Ethereum Price Drops 7.87% Amid Broader Crypto Market Selloff
Ethereum price has declined over 7.87%, testing the $3,000 support level with weekly losses nearing 10%. 24-hour liquidations exceeded $84.5 million. Investor sentiment is low despite historical bullish trends in February and March.
- In February, Ethereum has consistently gained, with a notable 46% increase in February 2024.
- It recorded positive performance in seven of the past nine years during March.
- Analyst Ali Martinez highlighted a critical pricing threshold at $6,770, suggesting potential upside if bullish momentum continues.
- Ethereum generated $2.48 billion in fees in 2024, nearly three times that of Solana.
- Last week saw a net inflow of $139 million into Ethereum spot ETFs.
Recent leadership changes at the Ethereum Foundation have prompted a renewed community drive. Vitalik Buterin's investment in Etherealize aims to enhance Ethereum's presence among Wall Street investors, focusing on DeFi and Web3 integration.