The EC price is based on the number of people who are queued to advertise on your widget.
When no ad is queued, the price is 2. After someone purchases an ad the price goes to 4, and then 8. Each time someone purchases an ad the price doubles. Once an ad is finished advertising (24 hours), the price is halved.
Since your blog receives quite a bit of traffic, you will soon see your price jump very quickly.
There are a lot of spammy blogs on Entrecard, which is something people complain about. There are many ideas on how to get rid of them, but a solution is still in the works. Getting rid of the splogs is something that should be happening soon...hopefully.
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