CryptoQuant: Ethereum's price may fall to $1,500 due to the "adoption paradox".

CoinFeed reported on March 13th, citing The Block, that on-chain analytics firm CryptoQuant stated Ethereum is facing an "adoption paradox," where network activity is hitting record highs while the price of ETH is falling sharply. CryptoQuant's research director stated that if the bear market continues, ETH could fall further to around $1500, a level that could appear by the end of the third quarter or the beginning of the fourth quarter of this year. Data shows that Ethereum's daily active addresses hit a record high last month, surpassing the levels of the 2021 bull market, while ETH has fallen by more than 50% from its current cycle high. Activity generated by smart contracts and automated protocols has also surged, with internal contract calls reaching a record high last month; however, historical correlations have deteriorated, and the positive correlation between ETH price and contract-driven activity has weakened.