$ETH Despite price struggles, Ethereum’s fundamentals remain strong. It continues to dominate the decentralized finance (DeFi) sector with approximately $45 billion in total value locked (TVL). The Ethereum ecosystem also supports a stablecoin market cap exceeding $123 billion.

Competition from other layer-one blockchains like Solana is growing. To maintain its edge, Ethereum developers are actively working on the upcoming Pectra upgrade. Ethereum Foundation core developer Tim Beiko announced that the third testnet, Hoodi, will launch by mid-April 2025 to finalize preparations for this upgrade.