Ethereum's price experienced a 1.03% increase during a calm Sunday session, currently trading at $2,438. This gain is seen as a rebound from the previous week’s selling pressure, which was intensified by the geopolitical tensions between Israel and Iran.
The potential for Ethereum’s price to reach $3,000 is threatened as recent developments turn the asset inflationary after the Dencun update. Concerns have emerged over whether this reversal signals a departure from Ethereum’s prior deflationary trajectory.
Furthermore, the record low in Ethereum’s L1 fees adds to the current market dynamics, further complicating the long-term price trajectory of the cryptocurrency.
