Ethereum Searches for Support

🔷Ethereum is facing headwinds: supply has reached a record 120.7 million ETH, and the weakening of the deflationary mechanism following the Dencun upgrade has increased selling pressure. Declining network activity and waning investor interest point to reduced demand, which is holding back price growth. Despite ETH being historically undervalued relative to BTC, fundamental signals do not yet indicate a sharp recovery.

🔷Nevertheless, the recent Pectra upgrade has sparked optimism within the community, introducing important improvements — including expanded validator capabilities and support for smart wallets. These steps strengthen Ethereum’s technical foundation and could be key to the network’s long-term resilience.