Yuga Labs Senior Manager warns of Ethereum price drop to $200. Learn about factors affecting Ethereum's value and recent market trends.
According to Quit statements, Yuga Labs’ Blockchain Deputy mentioned that if the digital currency market enters a new bearish phase, Ethereum’s price could drop to $200 to $400. He referred to a historical trend showing that prices decrease by 80 to 90 percent in bear markets. Meanwhile, Ethereum whales are preparing for further price drops. A wallet associated with the Ethereum Foundation recently deposited 30,098 Ethereum worth around $56 million in MakerDAO. Ethereum faces various challenges such as network activity reduction, decreased institutional demand, and increasing competition from cheaper and faster blockchains. Currently, Ethereum is trading around $1,890, with $246 million liquidated in the past 24 hours.
