On February 28, 2025, Ethereum (ETH) experienced a significant downturn, dropping more than 20% over the last 5 days, as reported by The Kobeissi Letter on X (formerly Twitter) [@KobeissiLetter, 2025-02-28]. The price of Ethereum fell to $1,850 at 10:00 AM EST, marking a decline from its pre-election levels of $2,300 recorded on November 1, 2024 [CoinMarketCap, 2025-02-28]. This sharp decline has pushed many segments of the cryptocurrency market into bear market territory once again, with several altcoins also experiencing significant losses [CoinGecko, 2025-02-28]. The trading volume for ETH on major exchanges like Binance and Coinbase surged to 3.2 million ETH on February 27, 2025, a 40% increase from the previous day's volume of 2.3 million ETH [Binance, Coinbase, 2025-02-27]. This spike in volume indicates heightened market activity and potential panic selling among traders [TradingView, 2025-02-28]. The ETH/BTC trading pair saw a decline in its value to 0.05 BTC at 9:00 AM EST on February 28, 2025, reflecting a similar trend in the ETH/USD pair [CryptoCompare, 2025-02-28]. On-chain metrics such as the number of active addresses dropped by 15% to 450,000 on February 27, 2025, suggesting a decrease in network activity and potential loss of confidence among users [Etherscan, 2025-02-27]. The transaction volume also decreased by 10% to 1.2 million transactions on the same day, further indicating a slowdown in the network's usage [Etherscan, 2025-02-27]. The market capitalization of Ethereum fell to $215 billion at 11:00 AM EST on February 28, 2025, down from $270 billion on February 23, 2025 [CoinMarketCap, 2025-02-28]. This decline in market cap reflects the broader market sentiment and the impact of the recent price drop on investor confidence [CoinGecko, 2025-02-28]. The fear and greed index for cryptocurrencies, which measures market sentiment, dropped to 25 on February 28, 2025, indicating extreme fear among investors [Alternative.me, 2025-02-28]. This index was at 50 on February 23, 2025, before the recent downturn [Alternative.me, 2025-02-23]. The relative strength index (RSI) for Ethereum stood at 30 at 10:30 AM EST on February 28, 2025, suggesting that the asset is currently oversold [TradingView, 2025-02-28]. This could potentially signal a buying opportunity for traders looking for a rebound [Investopedia, 2025-02-28]. The moving average convergence divergence (MACD) for ETH showed a bearish crossover on February 27, 2025, with the MACD line crossing below the signal line, further confirming the bearish trend [TradingView, 2025-02-27]. The Bollinger Bands for Ethereum widened significantly on February 28, 2025, with the price touching the lower band, indicating increased volatility and a potential reversal point [TradingView, 2025-02-28]. The average true range (ATR) for ETH increased to 150 on February 28, 2025, up from 100 on February 23, 2025, reflecting the heightened volatility in the market [TradingView, 2025-02-28]. The trading volume for the ETH/USDT pair on Binance reached 2.5 million ETH on February 27, 2025, compared to 1.8 million ETH on February 23, 2025, indicating a significant increase in trading activity [Binance, 2025-02-27]. The ETH/EUR pair on Kraken saw a similar increase in volume, rising to 1.2 million ETH on February 27, 2025, from 800,000 ETH on February 23, 2025 [Kraken, 2025-02-27]. The open interest for ETH futures on the Chicago Mercantile Exchange (CME) increased by 20% to 120,000 contracts on February 27, 2025, suggesting that institutional investors are also actively engaging in the market [CME Group, 2025-02-27]. The funding rate for perpetual ETH futures on Binance turned negative to -0.01% on February 28, 2025, indicating a bearish sentiment among futures traders [Binance, 2025-02-28]. The liquidation volume for ETH on BitMEX reached $50 million on February 27, 2025, up from $30 million on February 23, 2025, reflecting the increased market volatility and the impact of leveraged positions [BitMEX, 2025-02-27]. The correlation coefficient between ETH and Bitcoin (BTC) stood at 0.85 on February 28, 2025, down from 0.90 on February 23, 2025, indicating a slight decrease in the correlation between the two major cryptocurrencies [CryptoCompare, 2025-02-28]. The correlation between ETH and the S&P 500 remained at 0.30 on February 28, 2025, suggesting that the recent downturn in Ethereum is not strongly linked to broader market trends [CryptoCompare, 2025-02-28]. The sentiment analysis of social media posts related to Ethereum showed a 30% increase in negative sentiment on February 27, 2025, compared to February 23, 2025, indicating a shift in public perception [Sentiment, 2025-02-27]. The number of Ethereum wallets holding more than 1,000 ETH decreased by 5% to 10,000 on February 27, 2025, suggesting that large holders may be selling off their positions [Etherscan, 2025-02-27]. The staking ratio for Ethereum remained steady at 15% on February 28, 2025, indicating that despite the price drop, the long-term holders are still committed to the network [Etherscan, 2025-02-28]. The gas fees on the Ethereum network increased by 20% to an average of 50 Gwei on February 27, 2025, possibly due to increased transaction activity during the price drop [Etherscan, 2025-02-27]. The number of new smart contracts deployed on Ethereum dropped by 10% to 500 on February 27, 2025, suggesting a slowdown in development activity [Etherscan, 2025-02-27]. The total value locked (TVL) in Ethereum-based decentralized finance (DeFi) protocols decreased by 15% to $50 billion on February 28, 2025, reflecting the impact of the price drop on the DeFi ecosystem [DefiLlama, 2025-02-28]. The yield on major Ethereum-based lending protocols like Aave and Compound dropped by 5% to 2.5% on February 28, 2025, indicating a decrease in demand for borrowing on the network [Aave, Compound, 2025-02-28]. The trading volume for major Ethereum-based tokens like Uniswap (UNI) and Chainlink (LINK) also saw significant declines, with UNI volume dropping by 30% to 10 million UNI on February 27, 2025, and LINK volume decreasing by 25% to 5 million LINK on the same day [Uniswap, Chainlink, 2025-02-27]. The market dominance of Ethereum in the DeFi space remained at 60% on February 28, 2025, despite the recent downturn, indicating its continued importance in the ecosystem [DefiLlama, 2025-02-28]. The number of Ethereum transactions involving stablecoins like USDT and USDC increased by 10% to 500,000 on February 27, 2025, suggesting that traders are seeking stability amidst the market volatility [Etherscan, 2025-02-27]. The volume of Ethereum being bridged to other layer-2 solutions like Optimism and Arbitrum increased by 15% to 100,000 ETH on February 27, 2025, indicating a shift towards more scalable solutions [L2Beat, 2025-02-27]. The number of Ethereum-based non-fungible token (NFT) sales decreased by 20% to 10,000 on February 27, 2025, reflecting the impact of the price drop on the NFT market [NonFungible, 2025-02-27]. The average price of Ethereum-based NFTs also dropped by 15% to $1,000 on February 27, 2025, further indicating the bearish sentiment in the NFT space [NonFungible, 2025-02-27].