Summary: Ethereum has experienced a significant decline in value relative to Bitcoin, with its weakest valuation since May 2020. This drop reflects a shift in market sentiment favoring Bitcoin over Ethereum. Additionally, Ethereum's total locked value has decreased by approximately $30 billion. The decline in value is attributed to macroeconomic factors and regulatory uncertainty. The crypto market as a whole has seen price declines, with ETH's market cap declining more than other assets. Ethereum's network total value locked, decentralized exchange trading volumes, and futures trading have all experienced significant declines. There is also reduced institutional demand for ETH, as evidenced by increased outflows from Ether ETFs. Rumors have circulated that the Ethereum Foundation may need to liquidate its holdings due to the price drop, leading to speculation of potential liquidations if the price of Ethereum continues to fall. The foundation has already made strategic investments and managed its treasury holdings to cover operational expenses.



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