{"id":21242,"date":"2026-02-03T19:16:18","date_gmt":"2026-02-03T19:16:18","guid":{"rendered":"https:\/\/bitunikey.com\/news\/is-the-ethereum-price-crash-over-as-network-metrics-surge\/"},"modified":"2026-02-03T19:16:25","modified_gmt":"2026-02-03T19:16:25","slug":"is-the-ethereum-price-crash-over-as-network-metrics-surge","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/is-the-ethereum-price-crash-over-as-network-metrics-surge\/","title":{"rendered":"Is the Ethereum price crash over as network metrics surge?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum\u2019s price crash continued its strong downward trend this week, reaching its lowest level since June 23 as the crypto market dive accelerated.<\/p>\n<div id=\"cn-block-summary-block_5a55efe347d898c6394bbbbe0b4d8698\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price continued its strong downward trend this week.<\/li>\n<li>The network\u2019s transactions and active users have soared in the last 30 days.<\/li>\n<li>Technical analysis suggests that ETH price has more downside to go in the near term.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Ethereum (ETH) token dropped to a low of $2,180, down by over 54% from its highest level since August last year. This retreat has brought its market value to over $274 billion.<\/p>\n<p>Ethereum has crashed despite the ongoing network and ecosystem boom as companies like Fidelity, JPMorgan, and Janus Henderson embrace its network for their tokenized assets.<\/p>\n<p>Data compiled by <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.nansen.ai\/macro\/overview?chain=ethereum\" target=\"_blank\" rel=\"nofollow\">Nansen<\/a> shows that Ethereum\u2019s network is firing on all cylinders. For example, the number of active addresses jumped by 45% in the last 30 days to over 15 million.<\/p>\n<p>Another metric shows that the number of transactions jumped by 40% in the last 30 days to over 68 million, the highest level in years.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Ethereum transactions have soared | Source: Nansen<\/figcaption><\/figure>\n<p>This growth has pushed its chain fees to over $15 million, up by 40% in the last 30 days. This growth occurred even as Ethereum transaction fees have continued to fall over the past few months.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>More data show that Ethereum\u2019s decentralized exchange network continued to rise in January, a trend that will likely continue in the coming weeks. Its DEX networks rose to over $52.8 billion in January from $49 billion in December last year. The most notable DEX networks are Uniswap, Curve Finance, Fluid, and Balancer.<\/p>\n<p>Most importantly, Ethereum has become a major player in the real-world asset tokenization industry, with its distributed asset value rising by 15% over the last 30 days to over $14.4 billion. Its stablecoin market capitalization rose to over $165 billion.<\/p>\n<h2 class=\"wp-block-heading\">Ethereum price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"3574\" height=\"2098\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2026\/02\/1770146178_402_Is-the-Ethereum-price-crash-over-as-network-metrics-surge.webp.webp\" alt=\"Ethereum price\" class=\"wp-image-14447994\"><figcaption class=\"wp-element-caption\">ETH price chart | Source: crypto.news\u00a0<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that the ETH price has been in a strong downward trend in the past few weeks. It crashed recently after forming a bearish flag pattern, which consists of a vertical line and an ascending channel.\u00a0<\/p>\n<p>Ethereum price has dropped below the 61.8% Fibonacci Retracement level at $2,753. It moved below the 50-day moving average and Supertrend indicator.<\/p>\n<p>ETH is forming a bearish pennant pattern, a common continuation pattern in technical analysis. It has also moved below the Supertrend indicator.<\/p>\n<p>Therefore, the most likely Ethereum price prediction is bearish, with the next key support level being at $2,000.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum\u2019s price crash continued its strong downward trend this week, reaching its lowest level since June 23 as the crypto market dive accelerated. Summary Ethereum price continued its strong downward&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21242"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21242\/revisions"}],"predecessor-version":[{"id":21243,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21242\/revisions\/21243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11831"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}