Ethereum
Why Ethereum is down 1.8% today
Analysis
Ethereum (ETH) slipped 1.8% over the past 24 hours as attention shifted to ecosystem-level developments that didn’t translate into immediate spot demand. CoinDesk reported Espresso’s ESP token launch and 10% airdrop amid an ongoing Ethereum layer-2 debate, which may have added uncertainty around L2 dynamics in the near term.
Contributing Factors (3)
Espresso network launches ESP token with 10% airdrop amid Ethereum layer-2 debate
The network transitioned to proof-of-stake and coincides with the rollout of the ESP token, which is used for staking, securing the network and protocol participation.
Chainlink feeds go live for Ondo tokenized US stocks on Ethereum
Price feeds for SPYon, QQQon and TSLAon are now live on Ethereum, allowing the Ondo-issued tokenized equities to be used as collateral in DeFi lending markets.
Ethereum Worth $660 Million Pulled From Exchanges in One Week
Ethereum sees selling pressure subside as accumulation grows with 330,000 ETH tokens withdrawn from exchanges in the past week.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.