ETH (Ethereum) has fallen by 3.34% in the last 24 hours.

Gate News Bot message, September 23, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at 4195.92 USD, falling 3.34% in the last 24 hours, with a high of 4643.97 USD and a low of 4130.17 USD. The 24-hour volume reached 54.676 billion USD. The current market capitalization is approximately 506.464 billion USD, a decrease of 17.48 billion USD compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for decentralized applications (DApps) and smart contracts, supporting various use cases including stablecoins, decentralized finance (DeFi), non-fungible tokens (NFTs), and more. The Ethereum ecosystem has the largest and most active developer community, continuously driving blockchain technology and Web3 innovation.

Important recent news about ETH:

1️⃣ Layer2 security recognized by Vitalik Ethereum founder Vitalik Buterin affirmed the security of Layer 2 solutions such as Base. He pointed out that while these Layer 2 solutions leverage centralized features to enhance user experience, they still rely on the underlying Ethereum for security. User funds are not custodial, which means they cannot be stolen or blocked from withdrawal, and the relevant security mechanisms have been validated by the L2beat platform. This statement helps to strengthen market confidence in the Layer 2 ecosystem.

2️⃣ Ethereum treasury holdings increase The total holdings of 68 Ethereum treasury entities have exceeded 5 million ETH, reaching 5.25 million, accounting for 4.34% of the circulating supply of Ethereum, valued at 22.09 billion USD. At the same time, BitMine Immersion Technologies disclosed that its crypto asset holdings include 2.416 million ETH. Large institutions continue to increase their holdings of ETH, reflecting confidence in the long-term development of Ethereum.

3️⃣ Market volatility intensifies, demand for risk management rises Recently, the price of Ethereum has fluctuated in sync with the weekly stochastic indicator, and extreme highs should be approached with caution regarding risks. The main buyers are state treasury companies, but due to the depreciation of asset values, subsequent buying power may be limited. In the past 24 hours, $492 million worth of ETH was liquidated, reflecting increased market volatility. Investors should enhance risk management and be wary of potential risks during rapid price surges.

From a technical perspective, ETH is currently facing an important support level at $4000, and a fall below this level may trigger further declines. At the same time, the cost price for some large holding institutions is close to $3950, which may also become a potential support level.

This message is not intended as investment advice; investors should be aware of market volatility risks.