Ethereum closes first positive month since August 2025, but recovery depends on external factors
After six consecutive months in red, Ethereum (ETH) finally recorded a positive performance in March 2025, up 2.93%. The monthly closure in green marked the first positive month since August 2024, interrupting a sequence of falls that came from September 2024.BeInCrypto, indicates a slight improvement in investor confidence, although the scenario is still surrounded by uncertainties.
Despite the punctual recovery, experts point out that the Ethereum market remains fragile. The currency still faces pressure at critical levels, such as the $2,000 mark, where liquidity is low and volatility tends to rise.BTC and EchoThis combination — strategic purchase in low zones and low liquidity — can both signal a recovery and increase the risk of further abrupt falls.
Lido, Ethereum’s staking leader, faces 23% drop in revenue by 2025
At the same time, the main staking protocol of Ethereum, theby LidoThe platform, which dominates about 30% of the ETH staking market, recorded revenue of $40.5 million in the year, a 23% drop from the previous year. The decline in revenue reflects the compression of earnings in the Ethereum ecosystem, which has suffered from falling transaction rates and demand for staking services following recent network updates.
O Journal of CoinNote that Lido is looking for alternatives to reinvent itself, such as expanding to other blockchains and offering more attractive financial products. However, for the approximately 9 million Brazilian users using staking platforms, the news serves as a warning: Ethereum’s returns may no longer be as attractive as in previous years.
What to expect from Ethereum in the coming months?
While the March rise is a temporary relief, the cryptocurrency market is sensitive to macroeconomic factors, such as the Federal Reserve (Fed) decisions on U.S. interest rates and the regulation of digital assets in Brazil. The Securities Commission (CVM) has not yet officially regulated Ethereum ETFs in the country, which limits institutional access to the asset and may delay a more robust recovery.
Furthermore, the competition with other blockchains, such as Solana and Ethereum’s Layer-2s, remains fierce.Base isand OzkSyncThey are attracting developers and users with lower costs and faster transactions, which can further reduce Ethereum’s share in the DeFi (decentralized finance) ecosystem.
Analysts listened to by the international press point out that without a clear catalyst — such as a new significant update in the network (for example, the full implementation of theDenzelFor those who already hold positions, the recommendation is to maintain a long-term strategy and diversify investments in cryptocurrencies and traditional assets.
Opportunities and risks for the Brazilian market
In Brazil, Ethereum remains one of the most popular cryptocurrencies, especially among those seeking to expose their investments to the ecosystem of smart contracts and DeFi.Foxbit, The Bitcoin Market e BinanceThere is a significant volume of ETH trading, but recent instability has caused many investors to migrate to less volatile assets such as Bitcoin or stablecoins.
On the other hand, the fall in staking revenue can open up space for new products in the Brazilian market.Bitrustand aHashdexThey already offer index funds (ETFs) with exposure to Ethereum, allowing institutional investors and individuals to access the asset in a more regulated way. These alternatives can help attract new capital to the ecosystem, even in a low-liquidity scenario.
Finally, it is crucial that Brazilian investors closely follow not only the prices, but also the on-chain metrics of the Ethereum network, such as Ethereum.Total Value Locked (TVL)Indicators such as these can give clues about the real health of the network and help in making more informed decisions.
As Ethereum tries to rebound, one thing is certain: the cryptocurrency market in Brazil and around the world continues to transform, with new players and technologies challenging the old giants.