š¢ ETH Update: Price Holds Steady, ETF Inflows Strong! š
$ETH is trading around $2,600 USDT, showing slight positive momentum. Ethereum's resilience is largely driven by consistent institutional interest.
Key Highlights
* Strong ETF Inflows: Spot ETH ETFs have seen 15 consecutive days of net inflows, totaling over $837.5 million since May 16th! BlackRock's ETHA ETF alone contributed $249 million in the last five trading days. This sustained institutional demand is a major bullish signal.
* Pectra Upgrade Impact: The Pectra upgrade, live since May 7th, brought key improvements like increased validator stake limits (up to 2048 ETH) and Account Abstraction (EIP-7702), laying a strong foundation for future growth and efficiency.
* Growing DeFi Activity: Ethereum's Total Value Locked (TVL) has jumped 21% in the last month, showing renewed interest in its decentralized finance ecosystem.
Technical Outlook
ETH is consolidating, finding strong on-chain support around $2,500. Key resistance levels are $2,640 and $2,730. A decisive break above $2,730 could lead to a rally towards $3,000 and potentially higher.
What to Watch: Continued ETF inflows and a clear breakout above $2,700-$2,730.
Disclaimer: Not financial advice. Do your own research.
