Ethereum has lost $6.4 billion in leverage following a significant drop in open interest. Nevertheless, it maintains a total value locked of $330.4 billion in DeFi, showcasing its dominance despite falling prices.
Notably, whales, including Tom Lee’s Bitmine, continue to purchase ETH amid price declines, suggesting trust in Ethereum’s future. Current estimates indicate that ETH remains undervalued due to strong fundamentals.
Leave a Reply