Ethher (ETH), the native cryptocurrency of the Ethereum Network, recorded a price decrease greater than 15% in the last 24 hours. It fell almost up to $ 2,100, but later recovered, and at the time of the writing is above 2,700. Meanwhile, the behavior of users in the network shows a reality traced to that of the price for a month: tending to decrease. The total blocked value (TVL) in Ethereum dropped to levels not seen since November 2024, when it broke them ascendingly. These levels are those around 58 billion dollars. During December 2024, the TVL in the Ethereum network was up to 78 billion dollars, a higher than the current but still far from the historical maximum of the network in this section: 105 billion dollars in November 2021.
The TVL is the most important indicator of confidence in the profitability of a network. Source: Defillama. The TVL (Total Value Locked, in English) is an indicator used in decentralized finances (DEFI) to measure the total value of assets that are blocked in a protocol in the form of staking, loans or liquidity funds. It usually works as a confidence indicator in the profitability of the network.
Rate income Nor is it constituting a great source of income for validators in the Ethereum Network. In January, these validators saw a decrease in their income for three consecutive weeks, from January 13 to 27 of the same month. The first week, the validators received 37 million dollars in tariffs. The last one, less than 20 million dollars. The trend of these rates to be reduced has been consistent since the beginning of December 2024, when the network generated almost 60 million dollars in gas payments.
Validators receive income to validate and include transactions in the blocks. Source: Defillama. The income of the applications that offer services in Ethereum follows a pattern similar to that suffered by validators and their commissions. At the beginning of December, these applications were generating 70 million dollars. From there, except for a couple of weeks where the revenues recounted above 40 million dollars, applications are generating, on average, about 25 million dollars.
Ethereum is the second most important cryptocurrency network in the world. Source: Defillama. Since the end of December, the general tonic of tickets and money outputs to Ethereum is clear: the latter predominate before the former. As of this date, the network has experienced daily exits of 100 million dollars. On more penalizing days, such as January 23, Ethereum has seen how up to 500 million of the directions of his network escape. From the end of December here, Ethereum had only a few days of small tickets.
Since the end of December, the Ethereum Network has more outings than fund entries. Source: Defillama. As for the number of developers in Ethereum there is also something to say. Of these, at least 339 worked in January on the Network, according to Defillama. That amount is greater than what was in November and in December. However, from 2021 to July 2024, Ethereum was not difficult to overcome the 400 unfortunate brand, as evidenced by the following graph:
The developers have historically preferred the ETH network before any other. Source: Defillama. Some behavioral indicators in the Ethereum network show, then, that the second most important ecosystem of cryptocurrencies does not cross their best streak. As Cryptoics reported, the price of Ether could be affected by a leadership crisis within the Ethereum Foundation and by economic decisions programmed in the protocol. While Ethers's burning currently exceeds the broadcast, Since April 2024, ETH supply has not stopped growing constantly.
Currently, Ether has a net reduction of almost 9,000 ETH in his supply. Source: Ultrasound Money. This means that, for a year, Ether has progressively left its attribute of deflationary currency, and that it is currently on the threshold whose transfer would make it, again, an inflationary currency.