Week in Ethereum highlights!

• Ethereum's transaction fees have significantly decreased to an average of $0.41 per transfer, the lowest in years. This reduction makes the network more accessible and encourages broader adoption, especially for developers and decentralized finance (DeFi) platforms.
• The U.S. House of Representatives recently voted to repeal an IRS rule requiring decentralized finance brokers to report user transactions. This move could create a more favorable environment for Ethereum-based DeFi projects, potentially boosting demand for ETH.
• The Ethereum Foundation has announced the appointment of Hsiao-Wei Wang and Tomasz Stańczak as co-Executive Directors, effective March 17, 2025.
• Ethereum developers are working on the Pectra upgrade, which includes improvements like enhanced smart contract functionality. A new testnet, Hooli, has been launched to finalize testing before deployment. If successful, the upgrade could go live on the main network by late April or early May 2025.
• The Ethereum Foundation is facing a potential $900 million liquidation risk due to ETH locked in a MakerDAO vault. However, the foundation can mitigate this risk by adding collateral, if needed.
• Ethereum's price has been on a downward trend, dropping below $2,000. Ethereum has strong support at $1,825, and traders are optimistic about a potential rally to $2,500. Positive market sentiment and increased leverage on long positions suggest a bullish reversal might be on the horizon.
• $1.8 billion worth of Ethereum left exchanges last week. This is the largest outflow since December 2022, investors might be moving their ETH to private wallets for long-term holding.

I remain optimistic, reduced supply on exchanges and potential regulatory approval for staking ETFs could act as catalysts for Ethereum's recovery!