Ethereum’s price has dropped to $4,200, following an all-time high of nearly $5,000. Stablecoin supply and DeFi deposits are at multi-month lows. Analysts suggest that potential rate cuts in September could spark a resurgence in liquidity. The price of Ethereum has recently come under pressure, dipping to $4,200 just days after reaching an all-time high of nearly $5,000. This price drop can be explained by recent on-chain data, which reveals a divergence in market behavior. Liquidity metrics such as stablecoin supply and DeFi deposits have fallen to multi-month lows. Meanwhile, adoption indicators, including active addresses and transactions, are at record highs. This suggests that Ethereum may be shifting from a yield-driven market to a utility-led ecosystem, with potential rate cuts in September possibly acting as a catalyst for the next price breakout. Stablecoin on Ethereum Drops 34.27M ETH The dollar market capitalization of stablecoins on the Ethereum network is currently $149.58 billion, representing an all-time high valuation, according to DeFiLlama However, when measured in ETH terms, today’s volume stands at 34.27 million ETH toke… The post 5 Charts That Could Predict Ethereum Next Big Move as Rate Cuts Approach appeared first on Coin Edition .
