Ether (ETH) has been struggling to surpass the $2,450 mark for over two weeks, with a recent 17% drop in Ethereum decentralized application (DApp) activity causing concerns, especially for the layer-2 ecosystem. Traders are uncertain about the sustainability of the $2,250 support level. Despite facing challenges like high transaction costs and lower staking rewards compared to competitors, Ethereum remains a dominant platform in terms of activity and development. While the decline in DApp volumes and performance of decentralized exchanges may seem worrying, Ethereum's total value locked (TVL) and active addresses have remained stable. Although there is an increase in Ether deposits on exchanges, indicating potential short-term selling pressure, the overall network metrics suggest that Ether's price is unlikely to drop significantly below the support level. Investors are advised to closely monitor Ethereum's activity for any potential risks. Read more AI-generated news on: https://app.chaingpt.org/news