Ethereum’s price has fallen below the crucial $1,600 mark, signaling a notable decline in the cryptocurrency market. This dip coincides with Ethereum’s lowest transaction fees in five years, leading to questions about the future of ETH, particularly given its second-place position in the global crypto landscape. 2.5 billion dollars have left the ecosystem recently. Market sentiment has shifted as investors grapple with a potential catalyst for recovery: Pectra, a new crypto project, which some believe could propel Ethereum back toward the $1,700 mark. However, a cautious stance prevails in the face of significant market volatility, and experts await clarity on whether this decline will continue or if a reversal is imminent.