Will Ethereum Hit $3K? Not Anytime Soon, Sorry to Break It to You! 🚫💸

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Will Ethereum Hit $3K? Not Anytime Soon, Sorry to Break It to You! 🚫💸

Key takeaways:

  • ETH futures are about as bullish as a Monday morning after a bad weekend. Yeah, not great.

  • More upside? Sure, if you enjoy watching weak network activity and Solana leapfrogging you. Good luck with that.

Ethereum’s decreasing TVL contrasts rising fees

Ether (ETH) just can’t seem to get back over $2,700, despite a modest 8% bounce—like trying to revive a dead plant. Between May and June, it’s up 48%, but honestly? That’s not exactly roaring back. The network’s pretty sleepy, and competitors like Solana? They’re over there like, “Hey, we’re still around.”

The total value locked on Ethereum? Dropped to 25.1 million ETH—17% down in a month. Yep, Ethereum’s losing its grip. Meanwhile, Solana’s TVL? That’s climbing—like everyone’s trying to jump ship, reaching 65.8 million SOL. Yeah, Ethereum’s edge? Shrinking faster than your patience during a traffic jam.

Sky (that’s MakerDAO, not a weather report) took a 48% tumble to 2.1 million ETH, and Curve Finance? Down 24%. Nice. But here’s the kicker: fees on ETH jumped 150%. So, even if fewer people are using it, those who do are paying more—kind of like a cover charge for a crappy bar. That actually helps burn ETH, making it less inflationary. Eh, leave the fireworks to the 4th of July.

DEX activity rises, but Solana beats Ethereum by volume

Now, DEX activity? It’s spiking. Uniswap’s doing over $2.6 billion daily—impressive, right? But wait—here comes the twist. Other networks like BNB Chain and Solana? They’re gobbling up market share. Ethereum’s now third in line. Yeah, third. Who saw that coming? Not me. Not you.

BNB Chain? They’re leading DEX volume growth. But guess what? It’s mostly because their fees are practically nonexistent. You can move coins for free—seriously, it’s too good to be true. So yeah, maybe don’t take that at face value. Even after adjusting, Solana’s volume surpasses Ethereum’s. Sorry, ETH fans, but we’re witnessing a shifting tide—like when you realize your favorite band sold out to a bigger label.

And all those big-deal dApps like Hyperliquid and Pump? They’re building their own chains instead of sticking with ETH. Looks like loyalty is optional, huh?

ETH futures show a lack of bullish conviction

The futures market? It’s about as excited as a snail on a lazy Sunday. Normally, ETH futures should trade 5-10% premium—kind of like a “trust me, it’s gonna go up” signal. But as of June 5? That premium shrank to 5%. Hmm, not exactly a confidence booster.

And the last time ETH futures topped 10%? Late January—so much for bullish vibes. Still, institutions are fairly interested, chugging along with $700 million inflows into ETFs. Yeah, they haven’t bailed yet. But realistically? They’re just waiting for a pullback—like how you wait for the sale to hit.

In short: there’s demand, especially from the suits, but breaking the $3,000 barrier? It’s looking more like a mirage. Sorry to be the bearer of bad news, folks. Or maybe it’s good news—less disappointment, right?

This whole thing? Just my opinion, not legal or investment advice—or anything that matters, really. Just saying.

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2025-06-05 19:50