ETH (Ethereum) fell 3.66% in the last 24 hours.

Gate News Bot news, on November 3rd, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $3756.35, having fallen 3.66% in the last 24 hours, with a high of $4250.67 and a low of $3681.91. The 24-hour volume reached $29.533 billion. The current market capitalization is approximately $453.384 billion, a decrease of about $17.22 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides the infrastructure for decentralized applications (DApps) and smart contracts, supporting a variety of application scenarios including finance, gaming, and social. The Ethereum ecosystem has the largest blockchain developer community, using JavaScript, Python, or specialized smart contract languages such as Solidity and Vyper to build applications.

Important news about ETH recently:

1️⃣ Large transactions are active, and the movements of institutional investors are significant An ETH whale deposited 3,000 ETH (worth about $11.17 million) into a centralized exchange after holding it for 2.5 months, making a profit of $14.76 million. Meanwhile, another address withdrew 20,021 ETH (about $7.815 million) from the exchange, possibly to repay a loan on Aave. These large transactions reflect that institutional investors are actively adjusting their ETH holding strategies.

2️⃣ Layer 2 ecosystem continues to develop The total locked value (TVL) of Ethereum Layer 2 has reached $41.43 billion, with Arbitrum One, Base, and OP Mainnet locked at $17.09 billion, $15.22 billion, and $2.97 billion respectively. The continuous growth of Layer 2 solutions indicates that the scalability of the Ethereum network is constantly improving, laying the foundation for broader future application adoption.

3️⃣ NFT market volume falls This week, the NFT trading volume was approximately $95.8 million, a decrease of 30.73% compared to last week. Among them, the trading volume on the Ethereum network reached $40.28 million, an increase of 12.94% from the previous week. Despite the overall market volume declining, Ethereum still maintains its dominant position in the NFT space, demonstrating its continued appeal in the digital art and collectibles market.

From a technical perspective, ETH is currently oscillating within the $3750-3900 range. The overall market is showing a consolidation pattern, with some analysts expecting ETH to maintain this trend until the end of November, with a new round of upward momentum anticipated in December.

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