An executive at NFT platform Yuga Labs has warned that Ethereum’s price could fall to between $200 and $400 in an extreme bear market scenario if the cryptocurrency market enters a new downturn.
Under the pseudonym “Quit,” the executive shared these concerns in a post on X, challenging more optimistic price predictions for Ethereum. They cautioned that if the market continues to decline, historical trends suggest an 80-90% drawdown is possible, which would bring Ethereum’s price down significantly from its current level of approximately $1,850.
Seeing calls for bottoms around $1500 for ETH.
That seems reasonable given the pain we’ve seen, but you need to ask yourself an important question: are we at the beginning of a bear market, or the end?
If it’s the end, great. BTC has barely seen any pain at all, it’ll settle at…
— Quit (@0xQuit) March 10, 2025
The executive pointed out that Ethereum’s recent 30% drop over the past week and 50% decline over the last three months may not indicate that the worst is over, as true bear markets often result in substantial losses.
While Quit maintains a positive outlook on the long-term potential of Ethereum, they suggest that investors should re-evaluate their holdings if they are not prepared to endure further declines.
ETH is currently trading at $1,900.03 , a 10.31% decrease in the last 24 hours. Data from Coinglass shows $246 million in liquidations in the past 24 hours, indicating significant volatility in the market.
Meanwhile, Ethereum whales are preparing for possible price drops as Ethereum’s price continues to fluctuate. Lookonchain reported that a wallet associated with the Ethereum Foundation transferred 30,098 ETH (approximately $56.08 million) into MakerDAO on March 11. This move, according to the blockchain analytics firm, might have been intended to reduce its liquidation price. As of now, this wallet holds 100,394 ETH (worth approximately $182 million) on Maker, with a liquidation threshold of $1,127.
In contrast, some entities are actively purchasing large amounts of cryptocurrency. For example, Donald Trump’s World Liberty Financial (WLFI) reportedly bought over 4,468 ETH for $10 million on March 5, along with significant amounts of wBTC and MOVE tokens.
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