Ethereum Plummets 17% to Below $2,300 Amidst Strong Institutional Demand

Ethereum (ETH)

• Price Movement: Ethereum experienced a significant price drop of up to 17%, falling below $2,300.
• Network Activity: Despite the price decline, Ethereum's Total Value Locked (TVL) remains near all-time highs, indicating strong institutional demand. The waiting period for ETH staking has extended to approximately 70 days, reflecting ongoing interest from investors.
• Market Sentiment: Analysts view the price drop as a market correction rather than a sign of weakening fundamentals. The decline is more influenced by broader market trends, particularly Bitcoin's movements, rather than specific issues within Ethereum.
• Long-Term Focus: Developers and businesses in the Ethereum ecosystem are concentrating on long-term growth, showing confidence in the network's future.

Solana (SOL)

• Price Predictions: Analysts predict that Solana could reach $2,000 by 2030, despite recent adjustments to short-term forecasts for 2026.
• Market Trends: The optimism surrounding Solana's long-term potential persists, suggesting confidence in its ability to compete with other blockchain networks despite recent price volatility. Solana's price has recently fluctuated around $100, with some analysts suggesting a potential rally of up to 150%.

Sui

• Price Performance: The current price of Sui is around $1.12–$1.15. There are concerns about Sui needing to defend the $1.10 level to avoid falling into a descending triangle pattern, which could lead to a price target between $1.60 and $1.70.
• Market Pressure: A recent major token unlock added supply pressure, testing investor absorption capacity. Analysts are monitoring Sui's ability to maintain demand and defend its price against potential downward trends.

Conclusion

The current market for Ethereum, Solana, and Sui shows resilience in network activity despite recent price declines. Ethereum demonstrates strong institutional support and long-term growth prospects, while Solana has ambitious future price targets. Sui's market performance is under scrutiny, with critical levels to maintain in the face of potential declines.