Ethereum struggles to reclaim $2,600 due to competition, weak onchain activity, and lack of demand

From Cointelegraph
March 10, 2025 5:30:00 pm:

Ether (ETH) price fell below $2,600, triggering $918 million in leveraged long liquidations. Traders await a breakthrough above $2,500 as Ether underperforms the altcoin market by 10%. Competition from Solana and Berachain raises concerns about Ethereum’s future. Weak onchain activity and lack of institutional demand further weigh on Ether’s price. The Ethereum network faces challenges in upgrades, interoperability, and demand compared to competitors.ETH supply increasing at 0.7% annually, causing inflation. Ether’s burn-fee mechanism is reduced, making it less attractive for staking. Concerns arise as US SEC may approve a Solana ETF, posing direct competition. Investors seek clearer evidence of Ethereum’s sustainable advantages for price to surpass $2,500. Overall, Ether’s future hinges on network upgrades, increased usage, supply decline, and improved interoperability for sustained growth.

Read more at Cointelegraph: 4 things must happen before Ethereum can reclaim $2,600