Alongside Ethereum, the broader cryptocurrency market is also in the green: Bitcoin is up 1.40% to $106,160, while the remaining altcoin market capitalization has increased by 0.55% to $830 billion. Bitcoin's dominance now stands at nearly 65%, approaching the highs from early May this year, when dominance peaked at 65.35%. Bitcoin hasn't held similar dominance levels since January 20, 2021.
However, in recent weeks, capital has been gradually shifting toward Ethereum. Institutional investors are beginning to accumulate the second-largest cryptocurrency in anticipation of upcoming crypto market adoption in the U.S. Later this year, new regulations are expected for both the stablecoin sector and the broader DeFi space—both of which primarily rely on Ethereum as their settlement layer.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appEthereum-focused funds have begun aggressively accumulating ETH over the past five weeks, with particularly notable inflows into BlackRock’s Ethereum ETF.
Cumulative inflows into ETFs over the last 20 days are also showing a strong upward trend. This trend has persisted since late March, when sentiment around Ethereum was extremely negative. Currently, cumulative 20-day inflows exceed $1.2 billion.
Ethereum remains in a narrow consolidation range. Considering the prevailing uncertainty in global financial markets, this consolidation and defense of the $2,500 support level is a positive sign for bulls. The key will be a sustained breakout above the $2,750 resistance zone.
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
