Ethher (ETH), the cryptocurrency of the Ethereum Network, registered a fall greater than 15% in the last 24 hours, thus increasing the internal tensions and criticisms of the community towards the Ethereum Foundation (EF).
It is important to note that this price collapse is related to the economic uncertainty caused by the «war of tariffs» initiated by US President Donald Trump.
On January 31, the president confirmed that he will impose 25% tariffs on imports from Mexico and Canada and 10% to Chinese acquisitions.
As a consequence, the cryptocurrency market was dyed red and The native currency of the Ethereum network was no stranger to that trend.
In the last 24 hours, the price of ETH lost the support in the 3,000 dollar zone and collapsed up to $ 2,100.
At the time of publication of this note, its price is $ 2,600, 46% of its historical maximum (ATH) of $ 4,800 reached in November 2021.
Beyond economic uncertainty and political tensions globally, This new price drop deepened the discomfort within the ETH community.
As cryptootics is reporting, users are disagreement of the current conduction of the EF for the repeated sales of Ether to obtain funds and thus cover operating costs.
Specifically, user complaint is for ETH’s bad performance against other assets such as Bitcoin (BTC), Solana (Sol) and XRP.
Currently, the price of Ether measured in BTC is 0.027 BTC, the lowest registered figure since April 2021.
Part of that discouragement that the Ethereum community is going through can be felt on social networks.
In Reddit, User Amafydd said: “Sol fell 7% while ETH 18%. I’m really tired. ”
For his part, Vuhuucuong97 lamented and wrote: «BTC is high risk and high reward, while ETH is high risk and low reward.»
Another user, identified as Reno007, said: “Everything probably recovers slowly. BTC returns to $ 100,000 and we will stay at $ 2,600. Maybe makes sense. ”
Likewise, the influencer that is identified in X as Diego Defi, said: “ETH is not a value shelter, it is the fuel that allows generating performance in Defi. If they look for long -term value protection, better BTC or stable with Yield ”.
Ethereum’s disseminator and investor in web3 projects, Evan Van Ness, saw that publication and replied: «We all have a silly opinion, but we must not admit it in public.»
Diego Defi’s publication generated a wave of questions and, for that reason, wrote a new post to clarify his position. “I just say that ETH and Defi allow you to earn money for day to day, buy more satoshis or stable currencies, each one chooses. I would never pay a coffee with BTC, ”he explained.