Analysts at Matrixport have pointed to negative sentiments regarding Ethereum. According to their report, activity in the Ethereum ecosystem has significantly decreased, and demand for the asset leaves much to be desired.
This is reported by Finway
Experts noted that since reaching a peak of $3668 on January 7, 2025, the asset’s value has fallen by 50%.
“Activity in the Ethereum ecosystem has sharply slowed down, and due to weakening fundamentals and low demand for the asset, market sentiment is clearly negative,”
emphasized Matrixport analysts.
They also added that the derivatives market predicts a possible price movement of 10% up or down by the end of next week, as several significant risk events are approaching. Ethereum is gradually approaching levels observed during the bankruptcy of the cryptocurrency exchange FTX in November 2022. It is important to note that the main group of FTX creditors will begin receiving payments on May 30, 2025.
At the time of writing, Ethereum is trading near the $1800 mark. It was previously reported that the price of the Ethereum coin could rise to $3400 by June 2025, as the asset is once again testing the key support zone that preceded its growth of 2000% and 360%.