📉 ETH is struggling after hitting $3,400 – Whales are still not very interested
🔻 Quick developments:
ETH adjusted ~4% in 2 days, falling to $3,280 after hitting $3,400
$65 million Long ETH was liquidated → early FOMO from traders
1-month ETH futures only premium ~4%/year → pro traders are not bullish yet
🧠 The core issue of ETH right now:
📉 Weak DApps demand: transactions ↑ but network fees ↓ 31%
🔥 Low fees → less ETH burned → staking is less attractive
🪙 ~30% of ETH supply is staked, potential risk of dumping if yield decreases
🐢 US spot ETH ETF attracts very modest capital
🧾 Many companies hold ETH but market cap < value of ETH held → the market doesn't trust much
⚠️ What do derivatives say?
Put options are more expensive than Calls ~6% → neutral to negative sentiment
Expectations for ETH to soar straight to $4,100 in the short term seem quite… distant
🤣 Humorous conclusion:
ETH at this moment is like a “beautiful house but few guests” – a premium platform but lacking paying users. To soar high, there must be cash flow + real activity, not just a narrative 🚀
😅 This article is a casual market chat, not investment advice. If ETH goes against this assessment then… it’s probably due to a tough market, not because of this article!
#Ethereum #ETH #CryptoMarket #OnChainData #NotFinancialadvice