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Ethereum On-Chain Activity Plunges 26% as Geopolitical Tensions Drive User Exodus
- Ethereum's on-chain activity dropped 26% amid escalating geopolitical tensions.
- DeFi Total Value Locked (TVL) declined by 10% to $57 billion as users withdrew funds.
- ETH surged 8% to $2,418 with increased trading volume aiming at $2,569 resistance.
- Daily active addresses on Ethereum's Layer-1 network fell sharply by 26%.
- The reduction in active addresses signals decreased user engagement and developer activity.
- Transaction count on Ethereum decreased by 14%, raising concerns about network health.
- DeFi TVL dropped by 10%, indicating participants limiting exposure to decentralized finance.
- Withdrawal of capital from DeFi creates a feedback loop of reduced liquidity and higher costs.
- Decreased transaction activity impacts ETH price as network utility weakens.
- ETH saw an 8% surge to $2,418 with a 7% increase in daily trading volume.
- Price and volume increases suggest genuine market interest in ETH's recovery.
- Technical analysis indicates potential resistance at $2,424 and $2,569 as the next key level.
- Sustained buying interest and market stability are crucial for further price appreciation.
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