Source: Cointelegraph.com NewsKey takeaways:<\/p>\n
Reclaiming the $2,200 level remains the first price challenge for ETH.\u00a0
\nETH price could recover if the Pectra upgrade leads to a surge in DApp and Ethereum network activity.\u00a0<\/p>\n
Ethereum successfully implemented a key network upgrade on May 7, but Ether (ETH) price and its derivatives metrics showed little response to the upgrade. The lackluster response surprised traders and led analysts to question whether ETH still has a real chance of climbing 22% to retake the $2,200 level. Source: Cointelegraph.com NewsKey takeaways: Reclaiming the $2,200 level remains the first price challenge for ETH.\u00a0 ETH price could recover if the Pectra upgrade leads to a surge in DApp and… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128790"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128790"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128790\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128790"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEther 30-day futures annualized premium. Source: Laevitas.chThe ETH futures premium has remained below the 5% neutral threshold, indicating a lack of appetite from leveraged bulls. More significantly, this indicator was unchanged at 3% after the Pectra upgrade, suggesting traders did not adjust their positions despite the upgrade\u2019s successful deployment.\u00a0
\nThe subdued response can be partly explained by investors\u2019 focus on macroeconomic issues, as recession risks arise amid uncertainty in global trade disputes. But traders\u2019 lack of interest in Ether predates the recent worsening of risk aversion conditions. In fact, ETH underperformed the broader cryptocurrency market capitalization by 28% in the first three months of 2025.\u00a0
\nThe lackluster price impact following the Pectra upgrade reflects broader dissatisfaction, as competing blockchains have gained traction.
\nSolana monthly active addresses vs. layer-1 competitors. Source: Token TerminalHistorically, high Ethereum base layer fees may have limited network activity, but these costs have dropped below $1 since mid-February. Additionally, Ethereum\u2019s leading layer-2 solution, Base, currently boasts 10.3 million monthly active users-far fewer than Solana\u2019s 82.2 million and BNB Chain\u2019s 25.9 million, according to Token Terminal data.
\nEthereum lags in DApp interoperability \u2014 Will it hurt ETH price?\u00a0
\nSolana has dominated the decentralized exchange sector, particularly in token launches, by offering an integrated user experience. Similarly, Hyperliquid has exceeded expectations in perpetual futures trading, demonstrating that traders\u2019 primary focus is not necessarily on Ethereum\u2019s decentralization and security. Meanwhile, Tron has made significant inroads in the stablecoin market.
\nBlockchains and DApps 30-day fees, USD. Source: DefiLlamaEthereum\u2019s leadership in total value locked (TVL) remains undisputed at $53.7 billion. However, this has provided little benefit to ETH holders, as network fees have been relatively low at $19 million over the past 30 days, according to DefiLlama. For comparison, Tron has amassed $51.8 million in fees in the same period, while Solana has accrued $39.4 million.
\nSource: X\/ProbablyNoamNoam Hurwitz, head of engineering at Alchemy, noted that Ethereum blob fees have dropped to their lowest possible level since the Pectra upgrade. For Hurwitz, Ether\u2019s success depends on base layer scalability, including further improvements in the rollup mechanism, and ultimately, a more seamless user experience.
\nRelated: Standard Chartered predicts BNB will more than double in 2025
\nBridging assets and data across Ethereum\u2019s layer-2 ecosystem has long been a challenge, while users on Solana and BNB Chain can easily switch between multiple decentralized applications (DApps). The Pectra upgrade, while a step in the right direction, does not resolve this issue, which explains why ETH has been unable to reclaim the $2,200 level seen in early March.
\nFor Ether\u2019s price to climb 22% from its current $1,810 level, investors likely need reassurance that the network\u2019s progress, whether through deposits or layer-2 growth, translates into clear benefits. Ultimately, improved staking yields or stronger incentives are needed to drive broader adoption of DApps, which in turn would generate increased demand for ETH within the ecosystem.
\nThis article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"