• With the likelihood of ETF approval dropping to 11%, Ethereum is facing regulatory uncertainty as the deadline approaches.
• Transaction fees for Ethereum have dropped to $1.12, the lowest seen in months, indicating lower network demand and a possible market recovery.
• Despite market downturns, Ethereum has shown a slight weekly gain, outperforming the broader crypto market marginally.

In recent weeks, Ethereum has displayed subtle yet important shifts in market value, aligning with broader economic trends and changes in market sentiment. Currently priced at $3,203.90, Ethereum has seen a modest 0.27% increase over the past week despite a 3.28% decrease in the last 24 hours. Data from Santiment highlights that Ethereum has reached its lowest gas fee since October 18th, 2023.

The current market capitalization of Ethereum is approximately $390.88 billion, with a circulating supply of 120 million ETH. Trading volume has surpassed $13.46 billion, demonstrating active engagement despite market corrections. Ethereum has also reclaimed its position above the crucial 0.049 level, a key indicator for traders and investors monitoring its price movements.

A significant aspect to consider is the diminishing chance of Ethereum Spot ETF approval, currently estimated at around 11% according to predictions by Polymarket prediction markets. As the ETF decision deadline approaches, set just a month away, Ethereum's market outlook is characterized by suspense and potential volatility.