PANews reported on March 31st that Matrixport officially stated that Ethereum's price has dropped by 50% since reaching a high of $3,668 on January 7th, 2025. Currently, the on-chain activity of the Ethereum ecosystem has significantly slowed down, with weak fundamentals, continuously low ETH demand, and a clearly bearish market sentiment.

As multiple key risk events approach, the derivatives market has begun pricing in a 10% significant volatility (in either direction) within the next week. Notably, Ethereum's price is gradually approaching the lows during the FTX bankruptcy period, with FTX expected to begin repaying major creditors on May 30th, 2025.