Ethereum News: Price at Risk of 17-Month Low Amid Declining Interest and ETF Outflows

Recent developments in the Ethereum market suggest that the cryptocurrency’s price could hit a 17-month low. Declining market interest and significant outflows from Ethereum’s spot ETF have raised concerns among investors. Technical indicators also point towards potential further price declines, painting a grim picture for Ethereum’s short-term prospects.

Ethereum Price at Risk of 17-Month Low; ETFs Witness Outflows

Ethereum’s price is at risk of reaching a 17-month low due to a surge in volatility and declining market interest. Over the past month, Ethereum’s spot ETF has experienced significant outflows, with nearly 49,000 ETH withdrawn in the last 48 hours. This highlights declining interest and investor confidence in Ethereum’s short-term prospects. Technical indicators also suggest potential further price declines.

Ethereum MVRV Drops To 0.9: Is This Bullish?

On-chain data shows the Ethereum MVRV Ratio has seen a notable decline recently. The MVRV Ratio, an on-chain metric that measures the ratio between the market cap and realized cap of ETH, has fallen to a relatively low level. When the MVRV Ratio is under 1, it suggests that the average holder may not be carrying a net unrealized profit, which historically could have implications for the price.

Ethereum Core Developers to Phase Out Holesky Testnet by September 2025

Ethereum CORE developers have announced plans to end support for the Holesky testnet by September 2025. This marks another phase in the network’s testnet transition. The decommissioning of testnets is routine for Ethereum, with Kiln, Ropsten, and Rinkeby retired in 2022, followed by Goerli in 2023. Launched in September 2023, Holesky has been one of Ethereum’s two primary testnets alongside Sepolia, playing a key role in staking, infrastructure development, and protocol testing. However, Holesky recently faced disruptions during testing for the Pectra upgrade, and despite restoration efforts, the network remains limited in its ability to support certain community testing scenarios.

Tornado Cash Delisting: Coinbase CLO Slams US Treasury

Paul Grewal, Chief Legal Officer of Coinbase, has condemned the U.S. Treasury Department for ignoring a Fifth Circuit ruling that ordered the removal of Tornado Cash from the sanctions list. The ruling stated that Tornado Cash’s Immutable smart contracts do not meet the criteria for property under U.S. sanctions laws. This dispute has reignited discussions on regulatory oversight and the evolving legal definitions of digital assets and smart contracts.