Ethereum
Why Ethereum is down 1.9% today
Analysis
Ethereum (ETH) fell 1.9% over the past 24 hours even as on-chain fundamentals appeared stable, with builders telling CoinDesk that network activity has held steady despite the price slide. The dip also came alongside mixed positioning signals: AMBCrypto highlighted Bitmine’s continued ETH accumulation, but that buying wasn’t enough to offset broader selling pressure in the near term.
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.
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?
ING opens retail access to Bitcoin, Ethereum, Solana ETPs in Germany
Still, ING Deutschland noted that crypto ETPs carry significant risks and stated that crypto has no intrinsic value.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.