Against the backdrop of a general market crash, Ethereum ($ETH) has shown a sharp decline, dropping to $1,889. This decrease of 10.1% in a day has been a serious blow to the DeFi ecosystem. According to data from Binance Square, liquidity on decentralized exchanges continues to dry up, and investors are shifting into 'risk-off' mode, dumping risky assets.
The situation with altcoins is even more critical: Solana ($SOL) has collapsed by 15.8%,
and Cardano ($ADA) and XRP have lost over 12%.
As reported by Investing.com, the drop of Ethereum below the key support of $2,000 opens the way for testing the zone of $1,750. The bearish trend is supported by low activity in the network and a lack of new positive drivers. Currently, the altcoin market looks extremely vulnerable to further selling pressure.
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