"Ethereum fell from around $4,950 in late August to roughly $2,900 by early December, marking a 45% decline over five months. The drop happened in stages rather than all at once. September brought prices down to the $4,500-$4,700 range, then October pushed them lower to around $4,100 as buyers couldn't defend key support levels. Each attempt to bounce back got weaker than the one before."
"By the end of October, ETH had fallen to $4,100, and the selling continued into November. The price dropped below $3,700 and couldn't climb back above $3,900 as liquidity dried up across major exchanges. The sharpest decline came in mid-November when ETH fell to about $2,700 before recovering slightly to around $3,000 by December 3. Throughout these five months, the chart shows a market losing momentum and facing thinner bids as Layer 2 migration picked up speed."
Ethereum fell from about $4,950 in late August to roughly $2,900 by early December, a 45% decline over five months occurring in staged drops as buyers failed to defend key supports. Trading volume and bids thinned as Layer 2 networks absorbed most activity, reducing mainnet transaction fees and burn pressure. Lower fees have eroded a core revenue pathway for ETH and prompted institutional skepticism about how much economic value flows back to holders. Each recovery attempt encountered selling pressure and weaker momentum. The market reaction reflects a structural shift in usage, value capture, and beneficiary distribution across the ecosystem.
Read at 24/7 Wall St.
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