Ethereum Price Steady at $2,500 Amid 91% Drop in Leverage Positions

The combined leveraged positions on Binance and Bybit for Ethereum dropped by 91% between August 22 and August 30, from $1.12 billion to $102 million.

This sharp decline in derivatives activity did not affect the price of Ethereum, which remained stable near $2,500.

In contrast, U.S. spot Ethereum ETFs have attracted about $1.5 billion in inflows since August 15, with BlackRock's ETHA fund accounting for nearly 72% of that amount.

This shift indicates that the recent price rally is now driven more by direct ETF buying in the spot market rather than leveraged trading.