ETH (Ethereum) down 4.15% in the last 24 hours

Gate News Bot Report, February 11 — According to CoinMarketCap data, at press time, ETH (Ethereum) is trading at $2,027.33, down 4.15% over the past 24 hours. The highest price reached $2,291.13, while the lowest dipped to $1,748.63. The 24-hour trading volume is $23.44 billion. The current market capitalization is approximately $244.68 billion.

Ethereum is a decentralized open-source blockchain network and software development platform supported by the cryptocurrency Ether (ETH). Ethereum provides a secure, global foundation for the next generation of unstoppable applications. The network is permissionless and open to everyone, built and maintained by thousands of individuals, organizations, and users worldwide.

Ethereum offers a variety of innovative use cases: stablecoins enable instant global payments and digital dollar storage; decentralized finance (DeFi) systems are accessible 24/7 to all internet users, supporting lending, interest earning, and other services; hundreds of layer 2 networks built on Ethereum provide low-cost and near-instant transaction experiences; applications built on Ethereum operate without selling user data, allowing users to use the same account across apps while maintaining privacy; any asset—from art to real estate to stocks—can be tokenized on Ethereum, enabling proof and verification of digital ownership.

As the native cryptocurrency of the Ethereum network, ETH is used to pay transaction fees and secure the blockchain through staking. Beyond its technical functions, ETH is an open, programmable digital asset used for global payments, collateral for loans, and as a store of value independent of any central entity. The Ethereum ecosystem has $111 billion in value locked in DeFi, with $76.81 billion in staked assets. The average transaction cost is only $0.0014, with 20.6 million transactions completed in the past 24 hours.

Recent Important ETH News:

1️⃣ Institutional Buying Supports Long-Term Confidence
Recently, amid a sharp price correction to a low of $1,748.63, institutional investors have been accumulating against the trend. Tom Lee’s Bitmine Fund has continued to increase its ETH holdings after the price collapse, now holding 3.6% of Ethereum’s total supply, with an additional $84 million purchase. This large-scale institutional accumulation indicates that market participants maintain confidence in Ethereum’s long-term value, and some see current price fluctuations as a buying opportunity.

2️⃣ On-Chain Activity Remains High
Despite a 4.15% price decline over 24 hours, Ethereum’s fundamentals remain resilient. Total value locked in DeFi stays at a high of $111 billion, staking value remains steady at $76.81 billion, and 20.6 million on-chain transactions were completed in the past 24 hours. Transaction costs remain low at $0.0014. This suggests that the ecosystem continues to operate smoothly, and user activity has not significantly diminished due to price volatility.

This message is not investment advice. Please be aware of market risks when investing.