ETH down 12% from Oct 1-3 after failing to break $2,650 resistance. 😬
- ETH price down 5% from Sep 1, but total crypto market cap up 1.4%.
- ETH ETF launch in US fails, loses $552 million.
- Vitalik Buterin and Ethereum Foundation sell ETH, putting downward pressure on price.
- ETH hopes to become "ultrasound money" have not come true.
📈 However, Ethereum network activity remains strong:
- 7-day trading volume reaches $26.2 billion.
- Active addresses up 27%, trading volume up 41%.
- Uniswap up 33%, Balancer up 122%, Curve up 143%.
ETH needs to balance scalability and incentivizing investors to hold ETH to recover to $2,800.
What do you think about the future of ETH? Comment! 💬