$ETH Price Isn’t the Only Problem: ETH Drops to $2,700 ⚠️
Ethereum just slid 8% in the last 24 hours, now hovering near $2,700 — but according to 10x Research, the real issue goes deeper than price.
The core problem? Weak on-chain activity, a trend that has persisted for almost two years.
Even with cheaper gas fees and the growth of L2s like Arbitrum, Optimism, and Base, Ethereum’s mainnet demand simply isn’t recovering.
🔍 What’s actually changed?
DeFi hype cooled off
NFT trading volumes collapsed
Mainnet usage stagnated despite scaling success
In 2020–2021, Ethereum thrived during congestion — high fees meant heavy demand.
Today? Fees are low… because engagement is low.
Without a real on-chain resurgence, ETH’s climb becomes tougher — technically and fundamentally.
#ETH #Ethereum #MacroInsights #CryptoMarket