Analysts’ opinions on ETH’s prospects are divided

The distribution of ETH options expiring next month indicates growing bets on the cryptocurrency moving above the $3,600 mark, according to information published by Deribit.

The volume of open call options at the specified exercise price increased to $161 million. It was higher only at the strike price of $6,500.

Open interest on calls in the first summer month is almost $1.9 billion. This is not only a factor indicating the optimism of crypto market participants, but may also indicate likely support for the asset.

Experts from 10X Research believe that the price of Ethereum could drop to $2,500 due to the weakening impact on the industry. Analysts have pointed out the currently unstable performance of the blockchain.

In addition, experts noted a deterioration in the fundamental indicators of the ETH network, which could become an obstacle to a significant influx of fiat into the ecosystem.

“Ethereum: the number 2 token in the world continues to disappoint from both a fundamental and technical perspective. Its daily chart shows clear weakness. If the $2,950 level is broken, it will fall quickly to the 2500–2600 area,” said Kryptanium Capital founder Daniel Yan.

The main Ethereum network is experiencing a significant decline in activity, which has triggered a record drop in transaction fees.

Analysts from IntoTheBlock reported that more transactions are now recorded on second-level blockchains. A month earlier, more than 80% of the total number of transactions came from the three largest L2s.

What do you think about the future of Ethereum?