$ETH Ethereum: A Lack of Growth Engines
In 2025, Ethereum failed to convert its technological role into price growth. ETH finished the year down about 12%, retreating from its spring peaks to around $3,000. Unlike Bitcoin, which benefited from a clear institutional trigger in the form of ETFs, Ethereum did not enjoy such a powerful demand catalyst on a market-wide scale.
Network upgrades and Ethereum's central position in DeFi and Web3 infrastructures remained significant from an ecosystem perspective, but they were not sufficient arguments for investors in a low-risk appetite environment. For the 2025 market, this proved inadequate: capital responded not to technological development, but to liquidity, regulatory clarity, and ease of access.
Another factor was competition for investor attention. Some of the activity shifted towards layer two solutions and alternative blockchains, while ETH itself was increasingly seen as an infrastructure asset without a clear short-term investment rationale.
