Ethereum
Why Ethereum is down 2.0% today
Analysis
Ethereum (ETH) fell about 2% over the past 24 hours amid signs of heightened derivatives stress and deleveraging, with reports flagging “FTX-era” style liquidation pressure weighing on price action. CoinDesk noted builders largely shrugged off the drop as on-chain/network activity remained steady, suggesting the move was driven more by market positioning than a deterioration in usage.
Contributing Factors (3)
Ethereum builders shrug off ETH decline as network activity holds steady
By several measures, activity on the network remains near peak levels, which has industry leaders plussed about the plunge in ether's price.
Ethereum enters FTX-era stress: Is this structural deleveraging?
Risk-off flows drive liquidations, negative Funding Rates, and structural market stress.
Bitmine ‘steadily’ adds 41,788 ETH – Can Ethereum rebound after $10.7B bet?
Why is BitMine buying more Ethereum while sitting on billions in paper losses?
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.