On March 13, the ETH/BTC exchange rate dropped to 0.0224, a level not seen since May 2020.
According to Qiao Wang, co-founder of Alliance DAO, the current oversold level of Ethereum is comparable to the situation following the Terra collapse in 2021, the bear market of 2018, and the DAO hack in 2016.
eth is about at the same oversold level as it was during the 2021 terra collapse, 2018 deep bear (“two digit shitcoin”), and after the 2016 dao hack.
its really hard not to want to buy at these levels.
— qw (@QwQiao) March 12, 2025
Glassnode’s weekly on-chain analysis recorded an accumulation of 600,000-700,000 ETH at $1900. Resistance could be encountered at $2200, where 465,000 ETH have been traded.
#Ethereum‘s Cost Basis Distribution shows where a potential short-term support levels might form.
1W view:
? Price briefly dipped below the major $1.88K accumulation cluster, but addresses at this level showed no engagement
? New accumulation emerged at $1.9K (600K–700K $ETH) pic.twitter.com/i2VtCScofK— glassnode (@glassnode) March 12, 2025
The gap in supply between the two levels remains slight, making a short-term move towards resistance likely, analysts noted.
Over the past six months, experts have identified coin accumulation at levels of $1800, $2400, and $2900.
On March 10, Ethereum co-founder Vitalik Buterin expressed confidence in transforming the network into an even more powerful platform capable of reshaping the digital economy at the Based Rollup summit organized by Taiko.
FULL PANEL: The Future of Ethereum & the Role of Based Rollups, featuring Ethereum co-founder @VitalikButerin, Taiko co-founder & CTO @Brechtpd, and Nethermind founder & incoming Co-Executive Director of the Ethereum Foundation @tkstanczak.
Based Rollup Summit – March 10, 2025. pic.twitter.com/mcTAsnYpzj
— Taiko.eth ? (@taikoxyz) March 11, 2025
He emphasized the need to rethink initiatives like ICOs, DAOs, RAW, and the social layer, minimizing their weaknesses. Buterin urged the community to focus on attracting users who prioritize openness, censorship resistance, and security.
In January, the Ethereum co-founder confirmed that the ecosystem will continue to scale primarily through L2 solutions.