- Ethereum (ETH) value dipped to its 2-week low at $3.2K inside the final 24-hour window.
- ETH’s 30-day realized volatility experiences a drop from 79% to 76%.
- This largest altcoin data a worry and greed index of 56, emphasizing greed.
Ethereum (ETH), the world’s second dominantly valued cryptocurrency, fumbles all the way down to its lowest level of $3,202 in a fortnight. In the intervening time, the query, “Will ETH slide additional to $3K?” nonetheless hangs within the air.
ETH 4H Value Chart (Supply: TradingView)
As per the worth chart, ETH/USDT is trapped in a downtrend with a bearish MA (shifting common) cross-over — the long-term 21MA overtook the short-term 9MA. In the meantime, the relative energy index (RSI) stood at 35, indicating the asset’s shut proximity to the overbought territory.
On the time of writing, ETH traded at $3,312, after sliding 2.19% over the previous day. As per CoinMarketCap, the biggest alt holds a market cap of $397 billion and data a day by day buying and selling quantity of $20.7 billion.
Moreover, analyzing the 30-day realized volatility of ETH, the degrees climbed to 79.47% by the top of March in response to knowledge from Kaiko. Notably, in mid-February, it was discovered at 41%. At present, the volatility has barely dropped to 76%.
Stepping away from ETH’s value volatility and market momentum, statistics of the Ethereum Layer-2 (L2) networks emerge with optimism. Right here’s a spotlight of how the L2 ecosystem’s traction:
Ethereum L2s Replicate A Bullish Stride
Remarkably, ETH L2s have rallied to hit an all-time excessive (ATH) pushed by the rising recognition of restaking, real-world asset (RWA) tokenization, and web3 gaming. Information from growthepie.xyz signifies that the consumer base on these L2s surged 11.87% over the previous week, spiking the full rely to five.15 million lively customers.
Ethereum L2 Consumer Base (Supply: growthepie.xyz)
However, it’s the rising dominance of blobs’ function in burning ETH charges. The incidence of the Dencun improve on March 13 activated blobs on main Ethereum L2s. These blobs primarily cut back fuel charges. As per ultrasound.cash, blobs, the catalyst to scale back fuel charges, have now claimed the fourth spot on the dashboard.
