Is It Too Late to Buy Ethereum at $2,724 With ETH Still 45% Below Its High?
Key Summary
Ethereum recently achieved a 7% monthly gain, but this positive trend is overshadowed by shrinking demand and a significant setback for the Layer 2 network Arbitrum, which lost nearly $2 billion due to a shutdown. As of the current price of $2,724, Ethereum is still 45% below its all-time high, indicating that buyers may face a long way to recover from the losses. Despite the recent price increase, investors must carefully consider the underlying factors before making a decision on whether to buy Ethereum at this price.
Ethereum just posted a 7% monthly gain, but its deeper story involves shrinking demand, a Layer 2 network shutting down with nearly $2 billion gone, and a price still far from its peak. Here is what buyers need to weigh before making a move.