Ethereum Price Defies Leverage Drop as ETF Inflows Soar

Ethereum's price has managed to stay near $2,500 despite a significant drop in derivatives activity.

The combined leverage on Binance and Bybit fell 90.9% between August 22 and August 30, dropping from $1.12 billion to $102 million.

This sharp decline in leveraged bets shows that the rally now depends more on real buying than on borrowed money.

The shift is attributed to growing demand for spot Ethereum ETFs, which have seen inflows every session since August 15.

Over the 10-day period, these funds pulled in close to $1.5 billion combined, with BlackRock's ETHA fund leading the pack by a wide margin, accounting for roughly 71.9% of all ETF inflows during this period.