A survey conducted by crypto chart expert Ali Martinez shows that the crypto markets overwhelmingly think that Ethereum is the biggest loser in the 2025 crypto market corrections.
The reason for the overwhelming response seems to be Ethereum’s fall from $4000 on Dec 6, 2025, to $1400 today i.e., April 9, 2025.
However, despite the fall, Ethereum continues to lead the markets in all fundamental factors, be it on-chain TVL, stablecoins, fee revenue, or dApp statistics. Ethereum beats all chains multiple times over. This is true even for Bitcoin, which only managed to generate 33% of revenue as compared to Ethereum.
This could be the reason why crypto whales have been accumulating Ethereum at aggressive levels. Crypto reporting platform on X.com, CryptoGoos presented data for whale accumulation (via Cryptoquant).
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Summarizing Ethereum’s Strong Fundamentals
Despite its price performance in the last three to four months, Ethereum is still the strongest blockchain in all of crypto markets based on our research.
Central Role in Crypto Markets
Ethereum has been the innovator and guiding beacon in the defined markets. Clearly, it has become a leader as DeFi applications and use cases grew.
At present, Ethereum directly has a $50 billion TVL and $120 billion of on-chain stablecoins, far greater than any other blockchain. It indirectly supports at least 75% of the DeFi markets by acting as a reference standard for chains like BNB, Tron and Berachain.
Highest On-Chain Revenue
Last year Ethereum managed to generate an on-chain fee revenue of $2.5 billion while others remained far below it the second highest revenue was generated by the Tron Blockchain at $2.1 billion and it even beat Bitcoin by a factor of 300%, as Bitcoin generated a revenue of nearly $750 million.
Other revenue sources like ENS domains also contribute to Ethereum’s fross revenue.
Supports Entire Layer-2 and Layer-3 Network
Ethereum places central role in the DeFi markets supporting over 60 blockchains, more than 140 Layer-2 and Layer-3 solutions and several other applications. Almost all of the DeFi markets either depend on Ethereum directly or are compatible with the EVM virtual machine.
Analyzing ETH’s Fall. Will it Recover?
Ethereum’s 63% fall over the last one quarter clearly has spooked the market. At present Ethereum is already in a oversold territory and could gain clearly from this stage. At Blockchain Lab, we believe that Ethereum has already formed its bottom at $1400, based on its recent price behavior.
Coming on to Ethereum ETFs, the underperformance is due to a regulatory reason and is completely solvavle.
Ethereum ETFs are only disliked in the ETF markets because of their inability to provide staking benefits, a critical source of income for Ethereum holders in the spot markets. If these Etherium ETFs under Donald Trumps Administration are allowed to re file and provides taking benefits we might see a sudden demand for them in the ETF markets.
Our analysis suggests that it might recover very soon in the crypto markets and this recovery will be aided by a complete change in crypto market regulations around the world. In the long term we expect ETH to establish itself as the largest cryptocurrency possibly beating Bitcoin by the turn of this decade.
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