When Ethereum Took a Nosedive and Left Everyone Scratching Their Heads

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The crypto world, much like a restless sea, had a sudden storm in early 2025. What once soared high in late 2024, basking in golden numbers, now found itself cast down hard. The total crypto market cap, once a mighty $3.8 trillion in January, slipped like a weary traveler stumbling down a hill, tumbling over 18% to just $2.8 trillion by the quarter’s end.

Meanwhile, Bitcoin, that stubborn mule, stiffened its back and claimed more ground, edgeing out a mighty 59.1% dominance, its highest bragging right since 2021.

Ethereum’s Rough Ride: Down 45% and Counting

But poor Ethereum, she couldn’t hold her footing. Ethereum’s slice of the pie shrank by nearly 4 percentage points, down to a meek 7.9%, a shadow of her glory days before late 2019. Her story in Q1 2025 was a painful tumble—45.3% down, wiping out every last penny of 2024’s hard-won gains. She lagged behind the cocky Bitcoin, Solana, XRP, and Binance Coin who at least managed to keep their heads above water.

Trading volumes shrank too, slipping from a hefty $30 billion in the final days of 2024 to a more anemic $24.4 billion, like a river losing its strength after a drought.

When the Whales Come Swimming, Trouble’s Not Far Behind

Adding insult to injury, reports surfaced that a wallet tied to the Ethereum Foundation decided to unload 1,000 $ETH — a hefty $1.58 million—onto Kraken’s trading floor. No one likes a whale dumping cargo in shallow waters, and the price wobbled under the weight.

Back in 2024, the Foundation earned its fair share of scolding for offloading 4,466 ETH, worth a cool $12.61 million, right when the market was already trembling. History tells us such moves usually mean a storm’s brewing, and sure enough, Ether’s price took a nosedive, failing to catch its breath since.

Peter Brandt, that grizzled old trader who’s seen more crashes than a demolition derby, even warned that Ether might sink further, all the way to $800, dragging us back to 2022’s gloom. From its peak of $4,878 in 2021, Ether’s lost more than 60% in just a few months, currently trading around $1,757 and still sliding, down another 2% today. Hold onto your hats, folks — this ride’s far from over. 😅💸

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2025-04-24 16:58