Main takeout:
ETH’s price rise is caused by an increase in network activities and a powerful point of ETF inflow.
According to the data, $ 2,800 will remain an obstacle for ETH to overcome.
Ether (ETH) has been traded in a relatively narrow range between $ 2,370 and $ 2,770 since May 10, but some indicators suggest the potential of upward exercise. Ether Liium continues to lead the blockchain space in both sediment and activity when the layer -2 scaling solution is included in the analysis.
Despite the fact that ether has not regained its all-time high during the 2024-25 cycle, either Ether Leeum killer did not match the total value lock (TVL) of $ 66.6 billion. Ether Lee now has a dominant share of 61%in the market, with only 14%of the two competitors.
The TVL of Ether Lee’s basic layer has increased by 6% in the last 30 days with the benefits of Pendle, Ethena and Spark. In contrast, the BNB chain saw a 6% decrease and Solana’s sediment decreased by 2%. More importantly, the surge in sedimentary water over the blockchain that competes during the Memecoin craze in early 2025 has been proven to be impossible.
Etherium has lost its volume (DEX) volume surface due to a high base layer fee, which remains a barrier to most users. However, Layer-2 Solutions has maintained Ethereum’s lead throughout the ecosystem with an impressive $ 70 billion in DEX activities for 30 days. Notable contributors include basic, intervention, unichain and polygon.
Interestingly, some networks are now aimed at challenging Ether Leeum’s rule with the base layer extension. For example, TRON was only $ 4.5 billion in 30 days, while Avalanche recorded $ 4.2 billion. In contrast, Ether Leeum and Scaling Solutions totaled $ 116.8 billion.
Ether’s critics have raised concerns about Ether Leeum’s sustainability, pointing out $ 43.3 million for 30 days. The recent network update has the advantage of rollups and introduces a large -scale cheap temporary data packet known as a blob. As a result, the decrease in the supply of ETH depends greatly on the network cost, so the profits of the steak were negative.
Beyond Onchain’s dominance, Ether remains the only Altcoin with the approved SPOT exchange transaction fund (ETF) in the United States. This advantage is that competitors such as Solana and XRP are still waiting for the US Securities and Exchange Commission’s decision, helping to strengthen the $ 10 billion market. Analysts expect the final decision by mid -October.
Since May 16, SPOT ETF has not recorded the net outflow of the day all day, and the net inflow has collected $ 883 million during that period. This purchase pressure may look humbly compared to the average daily ETM of $ 4 billion on the major exchanges, but sends a signal to increase institutional interest.
relevant: Everyone likes encryption ETFs, but not after reading a small print.
Ether’s short -term supply, measured by exchange deposits, fell to a record of 1333 million ETHs. At the same time, 28.3%of the total ether supply is now immersed in a dynamic staying that supports positive price movement when demand increases.
The rapid 48% ETH rally between May 7 and May 14 emphasizes the imbalance between the holder and the potential buyer. Considering Etherrium’s onchain indicators and ETF demand increases, there will be more than $ 2,800 in the short term.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.