Ether Risks Lapsing Into Bear Market as Crypto Selloff Deepens

Just two months ago, enthusiasm around Ethereum — the blockchain that powers a key corner of the crypto economy — was spilling into the mainstream. Its native token, Ether, had surged to a four-year high as investors treated it as both a currency and a bet on the network’s growing role in payments and finance. Wall Street desks were structuring funds around it, and SWIFT’s pilot of an Ethereum-linked ledger seemed to confirm its arrival as real-world infrastructure.

That story is now cracking. Ether has fallen roughly 20% from its peak, erasing about $80 billion in digital-asset value and reviving doubts about whether Ethereum’s promise can withstand another market downturn. What began as a breakout moment for the most-used blockchain is turning into a reminder that, in crypto, belief and price remain inseparable.