– ETH price has declined by 7% between Oct. 6 and Oct. 12, reaching a seven-month low at $1,520.
– Investor confidence and interest in Ethereum are waning, as indicated by multiple metrics such as Google searches for “Ethereum” reaching their lowest point in three years.
– Ethereum’s average seven-day transaction fees have declined to $1.80, the lowest level in the past 12 months.
– Remarks made by Cardano founder Charles Hoskinson regarding the classification of Ether as a non-security asset in 2018 have impacted Ether’s price.
– Ethereum staking has garnered less interest from investors, with the yield decreasing from 4.3% to 3.6% in just two months.
– Regulatory concerns have escalated, with the French Central Bank highlighting the risk in decentralized finance (DeFi) and suggesting the need for specific rules.
– Derivatives data shows a lack of demand for leveraged long positions in Ether futures.
– Ethereum’s total value locked (TVL) has decreased, indicating reduced demand and diminishing confidence in the DeFi industry.
– Decreasing activity in ecosystem DApps, including decentralized exchanges and NFT marketplaces, further reflects reduced demand.
– The likelihood of Ether dropping below $1,500 remains relatively high considering the reduced demand, declining staking yields, regulatory uncertainties, and lack of interest.
Summary:
– ETH price has declined and reached a seven-month low.
– Investor confidence and interest in Ethereum are waning.
– Transaction fees have decreased significantly.
– Remarks by Cardano founder and regulatory concerns have impacted Ether’s price.
– Ethereum staking has garnered less interest from investors.
– Derivatives data and TVL reflect reduced demand and diminishing confidence in DeFi.
– Decreasing activity in ecosystem DApps further reflects reduced demand.
– The likelihood of Ether dropping below $1,500 remains relatively high.
