Ethereum Faces Challenges but Shows resilience
Ethereum’s price has struggled this year, falling 56% from it’s November peak.it’s performed worse than other top cryptos like Bitcoin and Solana. Ethereum has hit a record low against Solana and is near its 2020 lows against bitcoin.
Some investors wonder if Ethereum is fading. Charles Hoskinson, Cardano’s founder, predicted Ethereum won’t exist in 15 years. He cited the rise of layer-2 networks like Base, Optimism, and Polygon. These networks offer faster speeds and lower costs, attracting users from ethereum.
Though, Ethereum isn’t going away anytime soon. Its decentralized exchanges handled over $57 billion in the last 30 days, second only too Solana. Ethereum also leads in total value locked, with $107 billion, a 57% market share. It’s the biggest chain in stablecoins and non-fungible tokens.
Santiment data shows Ethereum’s holder count is rising. It now has over 144.8 million holders,up from 130 million in October. The five-year Mean Dollar Invested Age is at 658, suggesting older holders are holding on.
Technically, Ethereum’s price has bounced back from $1,383 to $1,787.It’s above the 25-day moving average and forming a bullish flag pattern. The Awesome Oscillator is near the zero line. A break above $2,150 could signal more gains, potentially to $3,000. If it fails,it could indicate further downside.
