Ethereum has experienced a notable decline, falling below $4,400 after reaching an all-time high of $4,946.05 just days earlier. The price drop of 4.4% surpasses the broader crypto market decline of 2.6%. Market factors influencing this downturn include the anticipation of over 1 million ETH set to be withdrawn from staking and notable congestion within the network. Despite the price fluctuation, Ethereum has seen a 16.6% increase over the past month. Institutional interest remains high, with companies like SharpLink Gaming significantly increasing their ETH holdings. SharpLink has recently added approximately $252 million in ETH to its reserves, totaling nearly $3.6 billion in value. Standard Chartered's analysts describe Ethereum's current pricing as a favorable buying opportunity, predicting a potential rebound to $7,500 by year-end due to sustained institutional demand. They note that Ethereum treasury companies and exchange-traded funds have absorbed about 4.9% of the circulating supply since June, positioning Ethereum for growth amidst increasing transactional congestion and scaling challenges.

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