Key results:

Ether (ETH) has not repeatedly broke over 2,200 USD since May 13, but despite this low -term weakness, the price of Ether has exceeded the wider capitalization of the cryptocurrency market by 17% in the last 30 days, increasing the likelihood of correction as the macroeconomic uncertainty continued.

Investors are afraid that the decreasing interest in decentralized applications (DAPPS) in all blocks is a key reason why ETH still trades 48% below its highest level of USD 4870 in October 2021. Taleing value in the industry (TVL), currently at 122 billion dollars, is still 43% below the summit of December 2021.

Ethereum still dominates in the TVL landscape with a 54.2% market share, and the leading Ethereum Layer-2 solutions provided an additional 6.3% of TVL share, reducing competitive pressure from alternative blocks. In total, deposits in the Ethereum ecosystem are more than four times greater than the total sums of the two largest rivals, the salted chain and BNB.

Critics say that Ethereum was not prepared for Memecoin madness, which defined the first quarter of 2025, especially since Onchain’s activity on Solanie appeared after the start of the official Trump tokena (Trump) in January. Despite this, while a few Solana DAPPS experienced a sturdy momentum, the overall benefit for SOL owners remains uncertain.

For example, the four best DAPPS Solana – Meteora, Pump, Jito and Axiom – generated 356.3 million dollars in the last 30 days. However, the Solana network itself collected only $ 48.5 million in the same period. This dynamics causes pressure on the price of Sole, because several of these projects regularly sell tax reserves.

For comparison, the four best DAPP on Ethereum generated $ 169 million in fees over the same 30-day period, while users paid $ 38.3 million fees for network processing. This suggests that the Ethereum dependence on layer 2 scaling solutions can be more favorable for ETH investors compared to the uneven distribution of Solana’s revenues.

Ether investors are frustrated, but layer 2 stands out

To assess whether traders became bear after a 9% decrease in the emerer price between May 29 and 30, it is useful to examine the Futures ETH markets.

Despite $ 159 million for liquid stubborn positions during a two -day decline, the annual Eth Futures bonus remained almost 6%. On neutral markets, the bonus between 5% and 10% is considered standard, because sellers require compensation for delayed settlement.

Some ether investors are also frustrated by the lack of clear competitive benefits of Ethereum. The latest network update has not changed its sentiment significantly. However, the ecosystem of layer 2 Ethereum currently processes more than 15 times more transactions than the basic layer.

Ultimately, investors’ moods remain anchored in wider macroeconomic trends. The probability of ETH rupture below USD 2,400 is closely related to the global risk of recession and commercial tensions. The scalability of TVL and Ethereum transactions assist alleviate the risk of minus and reduce the chance that ETH will achieve worse results on the wider Altcoin market.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.