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The premium for ETH futures recently hit its lowest point since November 2023, prompting speculation about Ethereum’s valuation. Despite a 12.5% decline in the past three weeks, historical evidence suggests a potential buying opportunity for investors willing to delve deeper into the asset’s data.

 

 

 

 

Macro-economic factors, particularly the shift in expectations regarding the US Federal Reserve’s interest rates, have contributed to the recent market correction. However, the ETH futures premium, now at a three-month low, has raised questions about additional pressures influencing Ethereum’s price.

 

 

 

 

Addressing Ethereum’s persistent high gas fees, a source of concern for traders and investors, is crucial for the network’s competitiveness against scalable blockchains like BNB Chain, Solana, and Avalanche. A positive development in this regard is the successful testing of the Ethereum Dencun upgrade, announced by core developer Tim Beiko on Feb. 1. The upcoming hard fork will introduce proto-danksharding, aiming to lower the costs of rollup scalability solutions. While analysts anticipate mainnet activation by March, no official deadline has been confirmed by the Ethereum Foundation. Emphasizing the significance of layer-2 solutions, the top four networks—Arbitrum, Optimism, Manta, and Base—currently boast a combined $4.2 billion in total value locked (TVL), surpassing BNB Chain’s $3.5 billion in smart contract deposits, according to DefiLlama. Notably, Ethereum rollups processed 4.2 times more transactions per day than the mainnet in the past week, as reported by L2Beat.

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