Crypto
Ethereum Stabilizes Near $2,500 Amid ETF Demand Surge and Whale Supply Test
Ethereum's price has remained near $2,500 despite a significant drop in leveraged trading on Binance and Bybit. The rally is less reliant on derivatives, indicating a more robust market foundation.
The surge in institutional demand through U.S.-based Ethereum spot ETFs, particularly BlackRock's ETHA, has played a key role in supporting price stability. Over the past 10 days, $1.5 billion has been invested, making it a major driver of the market.
However, large whale deposits totaling over 40,000 ETH on major exchanges pose a supply test that ETF demand must absorb to maintain the price. The balance between rising institutional ETF inflows and potential whale selling will be crucial for Ethereum's near-term price direction.