✅ What the data show (as of now)

According to a monthly-returns list, ETH’s return for November 2023 was +13.03%, not a –22.2% drop.

The same source shows that earlier in 2023, ETH$ had positive months in March (+13.52%), April (+2.59%), May (+0.25%), June (+3.21%), September (+1.53%), October (+8.63%), and November (+13.03%) — that’s 7 positive months out of 11 listed.

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⚠️ What seems wrong / what to double-check

The “–22.2% in November 2023” — as attributed to a “Gate News bot message” — does not align with the public monthly data from the above source.

The claim that ETH had “only three positive-return months in 2023 by November” is not consistent with the same data: by that data, there were at least 7 positive months.

So either the “Gate News bot” got the data wrong (or mis-interpreted), or its reference was different (maybe a different exchange, different currency, or price-adjusted basis).

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🔎 What might explain the discrepancy

Possible reasons the “–22.2%” claim could diverge from the monthly returns data:

It could refer to a different price measure (e.g. USD vs another currency, or start-of-month vs different “open” price).

It might reflect not just nominal price but some adjusted metric (e.g. after fees, or compared to a different benchmark).

It might be a simple error or misinformation from that “bot message.”

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✅ Recent Context for ETH (as of now)

ETH is trading around US $2,818.

Despite volatility, some recent analyses — for example, demand metrics on ETH have reportedly increased, suggesting accumulation by investors.

The broader ecosystem (layer-2 scaling, staking, demand for ETH in DeFi) remains a factor often cited by analysts when discussing long-term ETH outlook.