ETH price loses ground, but network metrics say DeFi season not over yet
Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and (BTC) was largely due to the rising dollar, which has stopped Bitcoin’s bull run in its tracks. Ether is still sitting at around $340, failing to recover its price ranges of August.
As the price of Ether dropped significantly from the start of the month, several fundamental factors on the network itself have changed. These include the movements and positions of key figures in the ecosystem, such as traders, whales, miners and DApp users, as well as the activity on the network, especially when it comes to DeFi and stablecoins. In addition, ECR-20 tokens have now overtaken Ethereum’s market capitalization.
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