ETH Climbs Ahead of Glamsterdam Testnet Launch Amid Rotating Capital and Cooling Demand

Ethereum (ETH) is gaining traction ahead of its upcoming Glamsterdam testnet launch, currently trading at $2,684.65 after a 0.76% increase on Saturday.

This surge in price comes as investors rotate capital into altcoins, with the Altcoin Season Index rising by 18.37% to 58 over the past 24 hours.

The broader market remains flat, with BTC dominance stagnating at 58.87%, indicating a neutral-to-bullish macro environment.

A significant technical milestone is on the horizon as Ethereum enters testing, while institutional demand for ETH has cooled in the short term due to U.S. spot ETF outflows of $59.6 million and $55.4 million over three consecutive days.