PANews March 7 news, according to Cointelegraph, blockchain data platform Santiment said in a post on X on March 5 that its social sentiment tracker found that compared with other major cryptocurrencies, traders were more pessimistic about Ethereum on social media channels such as X, Reddit and Telegram, and the community's sentiment towards Ethereum hit a new low this year. Santiment said: "For those who patiently hold Ethereum, the general bearish sentiment on social media is a good sign of a potential turning point, and Ethereum may rebound once the cryptocurrency market stabilizes."

Mike Cahill, CEO of Douro Labs, said in an interview that while Ethereum's poor performance may lead to a decline in social sentiment, it is important to "separate short-term narratives from long-term fundamentals." He said: "Historically, extreme bearish sentiment has often coincided with market bottoms, as price action tends to lead social sentiment rather than the other way around. If the cryptocurrency market stabilizes, Ethereum will be well positioned to benefit from new liquidity and continued institutional interest."