Introduction:

When it comes to cryptocurrencies, Bitcoin often steals the spotlight, but Ethereum, known as the king of altcoins, has maintained its strong position in the market. Lately, Ethereum has been experiencing fluctuations, sparking curiosity about its current status.

ETH Current Status:

Recent data from Santiment reveals a significant drop in Ethereum's transaction fees, hitting the lowest levels since January. Transaction fees on the Proof-of-Stake (PoS) network have plummeted by 84%, falling from $15 to $2.34 since March 5th.

Moreover, there has been a noticeable decline in Ethereum's blockchain activity over the past month. The daily number of individual addresses interacting with Ethereum has decreased by 7% since March 19th, leading to a decrease in unique network interactions.

The total number of transactions on the Ethereum network has also seen a 14% decrease over the last 30 days, with only 1.2 million transactions recorded on April 17th. This decline in user activity has impacted the performance of sectors like NFTs and decentralized finance (DeFi).

The NFT sales volume on Ethereum has experienced a significant drop, declining by 57% over the last month, according to data from CryptoSlam. This downturn in NFT activity is reflective of the overall decrease in user engagement on the Ethereum network.

Ethereum Price Outlook:

Despite the challenges, Ethereum's price has shown resilience, experiencing a modest 0.84% increase and returning to above $3,000, currently trading at $3,088. After dipping below $3,000 recently, the market cap has rebounded to the $370 billion level.

Additionally, the 24-hour trading volume has seen a 3.20% increase, surpassing $20 billion. In terms of Turkish Lira, Ethereum is currently trading at 100,500 TL.

Conclusion:

In conclusion, Ethereum is navigating through a shift in trends, marked by a decline in transaction fees and blockchain activity. Despite this, the cryptocurrency's price has demonstrated stability, maintaining its position above $3,000. As the market continues to evolve, all eyes remain on Ethereum's performance in the coming days.