Etherum Price collapsed this year, suffering from an area of 244 billion dollars, as the maximum market decreased from $ 482 billion in November last year to 238 billion dollars today. ETH has decreased to less than 2000 dollars, and technologies suggest that they have more negative aspect of operation. So, why did the ETH price decrease, and what then?
Ethereum is no longer the most profitable player in Crypto
Third party data by Tokenerminal He explains that Ethereum is no longer the most profitable player in the encryption industry, the crown you have held for years. Data shows that Ethereum has only made $ 215 million this year.
While this is a lot of money, it has been overlooked by other networks. Tether has already achieved $ 1.04 billion, while Tron has just $ 700. ETHEREUM was passed by the other key players in the encryption industry, such as Circle, Jito, Solana and UISWAP.
This performance is mostly because many users have begun to avoid ethereum in most activities. For example, TON has become the largest series of Tron’s transactions, with more than $ 70 billion per day due to low fees.
ETHEREUM users are mostly chosen to use Layer-2 networks such as base, definition and optimism. While Ethereum protocols are still leading in the decentralized exchange sector (DeX), Layer-2 networks gain the market share.
Spot eth etfs bleed assets
Price ethereum has crashed as ETH Stil continues to get rid of assets. Sosoverue data shows that these funds have cast assets in the last four consecutive weeks. They have lost more than $ 703 million in the past four weeks, the longest loss series this year.
Ethereum ETFS now had a cumulative flow of only $ 2.4 billion compared to $ 45 billion from Bitcoin. They carry about 6.97 billion dollars of assets, which is much less than Ethereum Trust (GBTC) at its peak.
Ethereum ETFS became unpopular because the Securities and Stock Exchange Committee (SEC) rejected these funds to rid them. Staking is a position in which users delegate their metal coins to secure Blockchain. Then they are compensated every month.
As such, holders of ethereum are preferred instead of this money. according to StakingrewardsETHEREMM reward rate is 3.17 %, less than other common chains such as Solana, BNB Chain, TON and Avalanche. However, users prefer to generate this return instead of just keeping these small boxes.
The price of ETHEREUM decreased as the investors remain pessimistic about the network. Only this week, STANDARD CHARERED analysts have reduced their ETHEREUM price from $ 10,000 to $ 6000.
Technical analysis of Ethereum price
The weekly graph shows that the ETH price has decreased in the past few weeks. It formed a triple style that was up to $ 4050, and the neckline was at $ 2,120. This is one of the most drop in the market. I have now moved below this neckline.
Ethereum price is about to form a mini -death cross, as it spread among the moving averages for 50 weeks and 100 weeks.
The price of ETH also hovers at the Fibonacci 61.8 % re -imitation level. Also, I move below the Ichimoku cloud index. Therefore, the less currency -resistant track, with the next point for a $ 1250 viewing, is the final support for the Murrey Math Lines tool. This price is about 35 % lower than the current level.
The prediction of post -ethereum prices appeared after it faced $ 238 billion first on Invezz
