Ethereum News: Price Dips Below $2K, 2025 Forecast Revised Downwards

In a volatile market, Ethereum’s price has once again dipped below the crucial $2,000 mark, raising concerns among traders. Meanwhile, Standard Chartered has revised its price forecast for the cryptocurrency, signaling a cautious outlook for its future.

Ethereum Price Dips Below $2K Again

Ethereum ($ETH) price continues to be precarious as it trades below the critical $2,000 mark, raising fresh concerns among traders. The altcoin briefly reclaimed $2K but has dipped below this level once again, currently trading at $1991. Notably, the coin lost this level on March 10 and is hovering at its lowest point since October 2023. Standard Chartered recently revised its 2025 price forecast for ETH, cutting it from $10,000 to $4,000, signaling a cautious outlook amid ongoing structural declines. Despite the downturn, some analysts point to whale accumulation and real-world asset growth as signs of potential long-term resilience.

Ethereum Price Could Crash Further as On-Chain Metrics Disappoint

Ethereum price has crashed by over 52% from its highest level in December, pointing to more downside in the near term. Concerns about its future remain, as Standard Chartered analysts downgraded their estimate by 60% from $10,000 to $4,000, citing competition from layer-1 and layer-2 networks. Layer-2 networks on Ethereum, like Coinbase’s Base, Arbitrum, and Optimism, have drawn more users due to lower fees. DeFi Llama’s data shows that DEX Ethereum protocols handled significant volume.

Coinbase Becomes The Largest Ethereum Node Operator

Ethereum is advancing with Proof of Stake (PoS), and Coinbase controls a significant part of the network with 11.42% of staked ETH, amounting to nearly $6.8 billion. This makes Coinbase the largest node operator, with 120,000 validators working round-the-clock to secure Ethereum, boasting a participation rate of 99.75%. While this is good news for stability, it also raises concerns about the potential for a future monopoly.

Who’s Responsible When Something Breaks in DeFi?

A DeFi user lost 14 ETH (~$33,000) due to a faulty oracle update. The user, known as “jameis” on Morpho, had their cbETH-backed loan liquidated because of a price feed delay between Pyth’s cbETH/USD and ETH/USD feeds. ETH’s price kept updating, while cbETH’s remained frozen for nearly an hour, causing a price ratio distortion that triggered liquidations. jameis demanded answers on Morpho’s governance forum and Discord but found no resolution.