Ethereum’s Massive Slump Continues With Sixth Straight Red Month - U.Today

Ethereum, the second-leading cryptocurrency by market capitalization, has recorded its sixth consecutive month in the red, according to data provided by CoinGlass

The largest cryptocurrency has recorded its second-longest streak of monthly losses since 2018

Back in 2018, Ethereum suffered a brutal crash, plummeting to under $85 by December

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This was due to the unwinding of initial coin offerings (ICOs), which were the main use case for the network back in the day

Hundreds of crypto startups raised tons of money by issuing their own tokens on the Ethereum network (ERC-20 tokens). However, the bubble ended up popping the following year

Fast-forward to 2026, the bears are currently on track to repeat this feat. They need March to close in red for 2026 to catch up with the massive streak of losses that was logged in 2018

This time, ETH is under severe pressure due to a combination of various other reasons, such as massive whale distribution, intense derivatives selling, macroeconomic uncertainty, L2 cannibalization as well as spot ETF outflows

ETH price predictions

As reported by U.Today, Standard Chartered has predicted that the price of ETH could potentially reach $7,500

The bullish forecast is based on the network’s dominance in stablecoins, decentralized finance (DeFi), and tokenization

Meanwhile, VanEck believes that ETHA could reach $10,000 due to Pecta and Glamsterdam unlocking 100,000 transactions per second

For now, however, ETH is trading only slightly above its 2018 peak