Ethereum's Revenue Drained by L2 Solutions

Ethereum's base layer is facing revenue drain due to Layer 2 (L2) solutions, which are siphoning off fees. The data shows that Ethereum captured just $128,000 in daily fees, while Robinhood generated $2.13 million. Arbitrum extracted its 10 percent cut of the fees.

This highlights the impact of L2s on Ethereum's revenue. Despite ETH price being at $2415.11 within the Bollinger band, with lower support at $2400.06 and upper resistance at $2504.73, the indicators point to a bearish trend structure.

The EMA50 at $2430.57 acts as immediate resistance, while the MACD death cross and neutral RSI at 40.58 reinforce this trend. This suggests that Ethereum's price may test the $2400.06 band before any sustained move higher.