The Ethereum Premium Index on Coinbase continues to trade in an uncertain zone after the August 5, 2024 crisis.

For altcoin investors, the US market's perception of Ethereum as a benchmark is important. We saw Ethereum rise from $2,200 to $4,000 from February 8th to March 11th, when the Coinbase Premium Index remained positive for a long time. This was accompanied by significant (mini) rallies among many altcoins.

Looking ahead, I believe that the price of Ethereum will be a benchmark for the altcoin market, similar to how traditional indices work for the stock market. Tracking US market sentiment (buy/sell) is becoming increasingly important. My onchain notifications are ready and I will share them as soon as they are live.