Tron (TRX) founder Justin Sun has staked $100 million worth of Ethereum (ETH), according to the blockchain analytics platform Arkham.

Arkham notes that Sun’s staked ETH will yield $3 million worth of Ethereum per year in passive income.

In addition to staking ETH, Sun also teased that Tron’s native asset, TRX, would soon be available on the Ethereum competitor Solana (SOL).

Sun, a polarizing figure in the crypto community, says it is currently “Tron meme szn [season].” He also notes that the issuance of top stablecoin USDT on Tron recently reached a new all-time high of $64.7 billion.

The U.S. Securities and Exchange Commission (SEC) recently paused its civil case against Sun. According to recent court filings, the Tron founder and the regulatory agency jointly asked United States District Judge Edgardo Ramos if they could “move to stay [the] case to allow the parties to explore a potential resolution.” Ramos granted the application a day later.

In 2023, the SEC accused Sun – who went on to invest millions of dollars into President Donald Trump’s decentralized finance platform World Liberty Financial – and his crypto firms of fraud, selling unregistered securities and manipulating the price of the digital asset TRX via wash trading.

TRX, a layer-1 asset, is trading at $0.23 at time of writing. The 10th-ranked crypto asset by market cap is down nearly 1% in the past day but up nearly 3% in the past week.

ETH is trading at $2,033 at time of writing. The second-ranked crypto asset by market cap is up nearly 7% in the past 24 hours and more than 8% in the past seven days.

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Featured Image: Shutterstock/Design Projects

Ethereum, like the broader crypto market, has experienced a sharp drop in price in recent weeks. From a high of $3,352 at the start of 2025, Ether now trades around $1,800 and $1,900, reflecting a sharp drop to the world’s second-biggest crypto by market cap. Looking at Ether’s bigger picture, it’s down 47% from last year’s value.

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If we go by the latest analyses and observations from commentators, Ether’s price correction will likely be extended. The altcoin is facing a huge bearish wave, with plenty of market factors undermining its price performance.

One significant factor is Standard Chartered’s recent decision to cut its price prediction by 60%, confirming market expectations.

News: Standard Chartered slashes ETH price target!

The bank cuts its 2025 ETH forecast from $10K to $4K, blaming Layer-2 networks like Base, which they say has drained $50B from Ethereum’s market value.#Ethereum #ETH #Crypto #Layer2 #Base #Blockchain

— Andres Meneses (@andreswifitv) March 17, 2025

Ethereum Faces A Descending Channel

Ethereum is currently in a price slump, and many experts expect a much deeper dive in the next few weeks. Ether’s price is currently floating above the $1,900 level as it continues its bearish price movements.

Analysts use the MACD indicator to verify and confirm the asset’s bearish sentiment. Also, the asset’s moving averages suggest a neutral trend and possible price consolidation.

Ethereum (ETH) remains in the correction zone today, trading around $1,874. The price continues to move in a descending channel, indicating a possible continuation of consolidation. Moving averages confirm the neutral trend: the price is holding below the 50-day and 200-day MA,… pic.twitter.com/R3vNqFBDkZ

— LVelarde (@0xvelarde) March 17, 2025

According to a crypto user named “LVelarde,” Ether’s price continues to follow the descending channel, suggesting price consolidation. The asset’s price is consolidating below its 5-day and 200-day moving averages, with traders looking for possible rejection or breakout. Since it fell below $2k, sentiments have been generally bearish, with many questioning its future price trends.

Standard Chartered Cuts Price Estimates For Ethereum

Even some of the biggest banks, like Standard Chartered Bank, are lowering their expectations of Ethereum. From a high of $10,000, the bank is reducing its price target to just $4,000, explaining that the Layer 2s are impacting its bottom line.

The bank added that changes and improvements to the blockchain affected its overall value, like its shift to the proof-of-stake and scaling roadmap.

Standard Chartered used Coinbase’s Base Layer 2 as an example, suggesting that the project has cost Ethereum $50 billion from its market cap. According to Geoff Kendrick, Standard Chartered analyst, Ethereum’s losses will continue as Base’s dominance in the industry continues.

Kendrick calls this the blockchain’s “midlife crisis”, adding that Ethereum’s chain has become a commodity with its Layer 2 framework.

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Things Ethereum Can Do To Address Its Slide

According to Kendrick, Ethereum can address its downturn in two ways. First, it can leverage its security-based dominance in the context of the tokenization of real-world assets (RWA). If Ethereum focuses on security, it can maintain its 80% market share.

Second, it can charge taxes for its Layer 2s, but it’s highly unlikely. Kendrick expects Ethereum to continue its underperformance in the short term.

Featured image from Bloomberg, chart from TradingView

Ethereum is currently consolidating below the $2,000 mark, trading within a narrow range between $1,800 and $1,900 as market uncertainty persists. Bulls have lost control, and speculation about a potential continuation of the bear trend is growing among analysts and investors. With macroeconomic instability, rising trade war fears, and erratic policy decisions from US President Trump, both crypto and U.S. stock markets remain highly volatile, adding to Ethereum’s struggles.

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To highlight Ethereum’s fragile position, top analyst Mister Crypto shared a technical analysis revealing that ETH is currently testing a 5-year-long trendline, a crucial level that has historically acted as strong support during major corrections. If Ethereum fails to hold this trendline, the market could see a deeper decline, reinforcing bearish sentiment and potentially pushing ETH toward lower demand zones.

On the other hand, if Ethereum holds above this trendline, it could trigger a strong recovery, offering hope for bulls looking for a reversal. Over the coming days, Ethereum’s reaction at this level will determine its next major move, making this a pivotal moment for the second-largest cryptocurrency.

Ethereum Faces Crucial Test as It Trades Below Multi-Year Support

Ethereum has been under massive selling pressure, driven by macroeconomic uncertainty and trade war fears that have rattled both the crypto and U.S. stock markets. With risk assets struggling to find stability, ETH has lost key price levels and now trades below a critical multi-year support around $2,000, which could flip into strong resistance if bulls fail to reclaim it.

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Analysts warn that Ethereum’s downtrend may continue as broader economic conditions show no signs of improvement. Investors remain cautious, with global trade tensions, inflation concerns, and U.S. regulatory uncertainties weighing on market sentiment. However, despite these bearish factors, some experts believe Ethereum could be preparing for a long-term recovery.

Mister Crypto’s technical analysis on X highlights that Ethereum is currently testing a 5-year-long support trendline, an even stronger level than the $2,000 demand zone. According to his insights, this trendline has historically held during major corrections and served as a key turning point for bullish reversals. If Ethereum maintains support above this level, it could trigger a significant recovery rally, pushing ETH back above $2,000 and beyond.

Over the coming weeks, Ethereum’s price reaction at this crucial trendline will determine whether a reversal is on the horizon or if the bearish trend will extend further.

ETH Bulls And Bears Battle For Control

Ethereum is now at a crucial crossroads, with bulls struggling to reclaim the $2,000 mark, while bears fail to push ETH below $1,800. This prolonged consolidation phase has left investors uncertain about the next major move for ETH.

For a recovery rally to take shape, bulls must reclaim the $2,300 level, which aligns with the 4-hour 200 moving average (MA) and exponential moving average (EMA). Breaking above this level would signal a shift in momentum and pave the way for further upside toward key resistance zones.

However, failure to reclaim the $2,000 mark and hold above crucial moving averages could trigger another wave of selling pressure. A decisive drop below $1,800 would put Ethereum in dangerous territory, opening the door for a potential retest of lower demand zones around $1,600-$1,700.

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With macroeconomic uncertainty and market-wide volatility still in play, ETH traders should watch for a breakout or breakdown from the current range, as the next few sessions will determine the short-term trend for Ethereum.

Featured image from Dall-E, chart from TradingView