CMB Stock News Of The Day 📰🗞️🗞️📈📉

“Ethereum Slides to Nine-Month Low as Market Cap Drops $100B in a Week” 🚨🚨🚨

Ethereum (ETH), the world’s second-largest cryptocurrency, has fallen to a nearly nine-month low after losing more than $100 billion in market capitalization over the past seven days. ETH is now trading below the $2,200 level, with CoinGecko data showing continued weakness across the market.

Despite attempts to stabilize, ethereum’s price action remains fragile, with downside risks still in play. Jim Hwang, COO of crypto investment firm Firinne Capital, noted that while pinpointing a market bottom is difficult, historical volatility suggests potential support near the $1,500 level. “Looking back to the volatility in April 2025, we see that there may be support around $1,500,” Hwang told Sherwood News.

Adding pressure to ETH’s price, spot ethereum ETFs have recorded $342 million in net outflows so far this year. This trend highlights a disconnect between investor sentiment and Ethereum’s underlying fundamentals. According to Hwang, the outflows stand in “stark contradiction” to growing real-world asset tokenization and improving network usage metrics.

The downturn also comes amid comments from Ethereum cofounder Vitalik Buterin, who said the “original vision of L2s and their role in Ethereum no longer makes sense.” Buterin pointed to slower-than-expected progress among layer-2 networks, while Ethereum’s base layer (L1) continues to scale and reduce transaction fees on its own.

As market uncertainty persists, traders and investors are watching closely to see whether Ethereum can defend key support levels or if further downside lies ahead.