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3 reasons why Ether price is still pinned below $1,900

Published 08/10/2023, 03:04 PM
Updated 08/10/2023, 04:40 PM
ETH/USD
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Ether's price has been locked within a tight trading range spanning from $1,800 to $1,900 since July 21. This remarkable lack of volatility has instilled a sense of uncertainty and skepticism among investors, despite recent positive developments, which include the launch of PayPal’s Ethereum-based stablecoin and a surge in requests for Ether-based exchange-traded funds (ETFs).

PayPal’s entrance into the world of cryptocurrencies could signify a major step toward mainstream adoption for Ethereum. However, this move also raises concerns about centralization and the potential loss of control over personal assets.

Ethereum network applications' total deposits in ETH. Source: DefiLlama
Ethereum's 30-day DApp activity. Source: DappRadar
Ether 3-month futures annualized premium. Source: Laevitas

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