Ethereum Market Cap Drops $54B as ETH Tests $2,300

Ethereum’s market cap fell by $54 billion in three weeks as total open interest across exchanges dropped to $11.5 billion. Binance open interest declined by $1.3 billion to $5.7 billion, while Gate, HTX and Bybit also recorded substantial monthly decreases. ETH trades near $2,304 with bearish RSI and MACD readings; a break below $2,300 could expose $2,250 and $2,200 support. Ethereum has lost $54 billion in market capitalization over three weeks as ETH fell about 15% and derivatives traders reduced exposure. Analyst Darkfost reported that total Ethereum open interest across exchanges dropped to $11.5 billion.

Source: Crypto Front News