Analysts expect ETH to decline despite strong fundamentals

Despite strong ethereum fundamentals, analysts expect ethereum to fall further.

The Ethereum blockchain is in the best shape it has been since launch: 100 days have passed since the transition from Proof-of-Work to Proof-of-Stake. The chain is now protected by nearly half a million validators and energy consumption has been reduced by 99%. There is approximately 16 million ETH in the stack, equivalent to $19 billion, or 13% of the total coin volume.