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📉 ETH at $3,300, but the sentiment remains bearish: what's the problem?
These sentiments are confirmed by the options market. The put option premium ( exceeds the call option premium ), indicating caution.
The chart shows blockchain activity over the past 30 days, and here’s what we see for Ethereum:
– active addresses +53%
– transactions +28%
– fees –31%
In other words, network usage has increased, but payments have decreased.
Why is this a problem for ETH:
• Part of Ethereum’s fees are burned
• Fewer fees = less ETH leaving circulation
• Less burning = weaker price support
• Staking becomes less attractive
What else is putting pressure on the market:
• Weak institutional demand
• Inflows into ETH-ETF are minimal
• Activity in dApps and meme coins has decreased
Ethereum is alive and in use, but the network economy is currently not working to drive the price up.