Stablecoin Ethereum Surges US$1.4 Billion, Sparks Bullish Hopes Despite Price Decline
Ethereum (ETH) recorded a decline of 8.95% in the last week, but market sentiment towards Ethereum remains optimistic. The addition of stablecoins worth approximately US$1.4 billion to the Ethereum network has increased demand and user activity, which could potentially drive broader Ethereum usage.
Artemis data also recorded a spike in *Bridged Netflow*, with an inflow of US$114,000 to Ethereum, mostly coming from Solana (SOL) investors selling their assets. This trend indicates major investor confidence in Ethereum's bullish prospects compared to other assets.
Additionally, *Total Value Locked* (TVL) in Ethereum protocols rose by 3.46%, adding liquidity of US$2.88 billion in a short period. This indicates that a lot of Ethereum is locked by investors, reducing the circulating supply.
*Disclaimer Alert. Not Financial Advice* (NFA). *Do Your Own Research* (DYOR).
