Ethereum Price and Usage Plummet as Regulatory Fears and Waning Confidence Sink ETH to 7-Month Low

Ethereum price has dropped to a 7-month low of $1,520 as of Oct 12.

Metrics like declining transaction fees, reduced staking yields, and lower TVL signal waning interest.

Regulatory uncertainty has increased, especially after recent French Central Bank report.

Derivatives data shows lack of demand for leveraged long positions.

Usage of top Ethereum dApps like Uniswap and OpenSea has decreased, reflecting diminishing confidence.