5 Charts That Could Predict Ethereum Next Big Move as Rate Cuts Approach

• Ethereum’s price has dropped to $4,200, following an all-time high of nearly $5,000.
• Stablecoin supply and DeFi deposits are at multi-month lows.
• Analysts suggest that potential rate cuts in September could spark a resurgence in liquidity.

The price of Ethereum has recently come under pressure, dipping to $4,200 just days after reaching an all-time high of nearly $5,000. This price drop can be explained by recent on-chain data, which reveals a divergence in market behavior.

Liquidity metrics such as stablecoin supply and DeFi deposits have fallen to multi-month lows. Meanwhile, adoption indicators, including active addresses and transactions, are at record highs. 

This suggests that Ethereum may be shifting from a yield-driven market to a utility-led ecosystem, with potential rate cuts in September possibly acting as a catalyst for the next price breakout.

Stablecoin on Ethereum Drops 34.27M ETH 

• The dollar market capitalization of stablecoins on the Ethereum network is currently $149.58 billion, representing an all-time high valuation, according to DeFiLlama

• However, when measured in ETH terms, today’s volume stands at 34.27 million ETH toke…

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