Standard Chartered analysts say Ethereum is going through a “midlife crisis,” with ETH struggling to hold around $2,000.

Ethereum (ETH) has seemingly stuck in limbo as it’s giving away its value for free to layer-2 networks while struggling to keep investors interested. The world’s second-largest cryptocurrency by market capitalization has dropped 40% in the past three months, with Standard Chartered analysts now saying the network if facing “midlife crisis.”

In an interview with the Financial Times, Standard Chartered’s head of digital assets research Geoff Kendrick said the network “gave away value for free” as with layer-2 networks Ethereum has “essentially commoditized itself.”

Now, Ethereum is struggling with keeping its price from falling even further. As of press time, ETH is trading at around $2,054, after plunging to $1,813 earlier in March. Kaiko’s research analyst Adam McCarthy says the decline might be tied due to the fact that Ethereum “is just not interesting to most people.”

“It’s hard to get too excited about amazing feats of engineering when there [are] so many competing things now in the attention economy.”

Adam McCarthy

At the same time, Ethereum’s developers are struggling with internal disagreements, and user activity on the network hasn’t picked up, noted Carol Alexander, a finance professor at the University of Sussex. She added that the decentralized finance vision now feels “much further away now than a year ago” and that decision-making in the Ethereum community has become “a bit of a shambles.”

Ethereum’s direction has been under scrutiny lately as even former Ethereum Foundation engineer Harikrishnan Mulackal criticized the network’s governance, saying it suffers from a “lack of a clear and cohesive vision.”

Per Mulackal, without stronger leadership, Ethereum could stagnate, suggesting that the network should push for faster updates and ship “one hard fork each quarter.” Otherwise, he said, Ethereum risks reproducing “exactly the same result” as the past five years.

An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange.

In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset.

News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours.

In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents.

Explains Across Protocol,

“Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path.

In practice, intents manifest as a combination of a cross-chain limit order and an action to execute, all encoded within a standardized order structure. Relayers compete on cost and speed to fill these orders, which can include on-chain actions as well as assets. Relayers deliver very quickly, without any messages.

From the user’s perspective, interoperability is solved. Their desired outcome is achieved.”

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Ethereum has experienced a much-needed surge above the $2,000 level, a key psychological and technical mark that bulls have struggled to reclaim since March 10. This breakout sparked optimism in the market, but the momentum was short-lived, as ETH quickly pulled back below the level and was unable to confirm a solid hold. Analysts widely agree that a strong and sustained move above $2,000 is critical for Ethereum to initiate a broader recovery rally.

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Despite the hesitation at resistance, on-chain data shows signs of growing investor confidence. According to Santiment, investors have withdrawn over 360,000 ETH from centralized exchanges in the last 48 hours. This shift is often interpreted as a bullish signal, suggesting that large holders are moving their assets to private wallets, possibly in anticipation of higher prices.

Meanwhile, the broader macroeconomic landscape continues to apply pressure. Trade war tensions and unpredictable policy decisions from the U.S. government have weighed heavily on both crypto and traditional markets, intensifying volatility and investor uncertainty. Still, Ethereum’s latest exchange outflows hint at a potential trend shift — one that could favor accumulation and set the stage for the next major move, provided bulls can reclaim and hold above the $2K threshold.

Ethereum Faces Critical Test Amid Exchange Outflows

Ethereum has lost over 57% of its value since mid-December, falling from a high of around $4,100 to recent lows near $1,750. This sharp correction has created a challenging environment for bulls, who have repeatedly failed to reclaim and hold higher price levels.

Now, the $2,000 mark stands as a psychological and technical battlefield. If Ethereum can firmly establish support above this level, it could provide the foundation for a recovery rally. However, a failure to do so would likely result in further downside and reinforce the bearish trend.

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The current market landscape struggles with uncertainty. On one side, continued macroeconomic headwinds—rising trade tensions, inflation concerns, and policy shifts from the U.S. government—have weakened investor confidence and driven volatility across risk assets. On the other hand, there are signs of potential recovery and accumulation.

Top crypto analyst Ali Martinez shared data from Santiment, revealing that investors have withdrawn over 360,000 ETH from centralized exchanges in the past 48 hours. Historically, large-scale withdrawals are considered a bullish signal, as they suggest investors are moving assets into cold storage for long-term holding rather than preparing to sell.

This move could indicate growing confidence among large holders and signal the early stages of a new accumulation phase—provided Ethereum can hold above $2,000.

Price Holds Steady Below $2,000

Ethereum is currently trading at $1,960 after briefly attempting to reclaim the $2,000 mark in yesterday’s session. The psychological and technical resistance at $2,000 remains a crucial barrier that bulls must overcome to shift market momentum in their favor. Despite a small bounce from recent lows, Ethereum has struggled to gain traction amid persistent market uncertainty.

Bulls need to push ETH above $2,000 and reclaim higher levels such as $2,150 and $2,300 to confirm the beginning of a recovery phase. A sustained move above these levels would not only signal a potential trend reversal but could also attract sidelined investors back into the market. Until that happens, Ethereum remains vulnerable to continued downside pressure.

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If bulls fail to break above the $2,000 resistance in the coming sessions, Ethereum could lose support at current levels and revisit lower demand zones around $1,850 or even $1,750. With the broader crypto market still under the influence of macroeconomic volatility and weak sentiment, the coming days are likely to be pivotal for ETH’s short-term direction. A decisive move either above or below this key range will likely set the tone for the next major price action.

Featured image from Dall-E, chart from TradingView