1. Competition from other blockchain platforms: High-performance networks, such as Solana and BNB Chain, offer lower fees and high transaction speeds, attracting users and investors, thereby reducing demand for ETH.
2. Macroeconomic factors: The cryptocurrency market correlates with traditional financial indices, such as the S&P 500 and Nasdaq. Changes in U.S. monetary policy and global economic trends may exert pressure on the value of ETH.
3. Cascade liquidations in DeFi protocols: Sharp price fluctuations can lead to mass liquidations of positions in decentralized finance applications, increasing pressure on the price of ETH.
4. Regulatory uncertainty: Following the update of The Merge, questions have arisen regarding the classification of Ethereum as a security in the USA, which may cause concerns for investors and affect the price.
5. Transition to an inflationary model: After the change in the consensus mechanism, Ethereum may face inflationary risks, which reduces the asset's attractiveness to investors.
The current price of Ethereum is $3,719.79, reflecting a recent decline.
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Investors are advised to closely monitor the situation and consider these factors when making decisions.
