Ethereum (ETH) experienced a significant weekly correction of 20.7%, falling to 2,924 USD. This drop led to liquidations totaling 395 million USD, indicating a shaky start for a rebound despite the ongoing interest in ETH derivatives.
The futures premium for ETH remains above the normal range, reflecting some Optimism among MAJOR traders. However, despite posting 42.7% gains in 2024, traders are still cautious following the price drops and underperformance against competitors.
Ethereum network transaction fees averaged 2.70 USD, higher than competitors Solana and BNB. HIGH fees and declining transaction volumes have raised criticisms about Ethereum’s layer-2 solutions, possibly impacting its appeal as a decentralized application platform.
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