Ethereum trades at $1,920, slightly above the short-term demand zone between $1,850 and $1,900, with key resistance around $2,050. Total value locked across Ethereum Layer 2 networks has dropped to approximately $5 billion, erasing much of the 2024 expansion and returning to 2023 levels. Robinhood Chain built on Arbitrum bridged $141 million in ETH over two weeks and generated $4.5 billion in DEX volume during its first week, but returned only around $4,000 in fees to Ethereum, fueling debate over how much value L2s actually send back to the base layer. Robinhood prediction markets reflect this uncertainty: only 22% of participants expect ETH to finish above $3,500 this year, while 54% anticipate a move below $1,500.
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