Is Ethereum dominating the market, marginalizing altcoins, and are institutions betting on Ether to $7,500?
On-chain data shows that $ETH saw $2.3 billion in inflows in a single week, bringing the total to $10.5 billion since the beginning of the year. Its assets under management (AUM) reached $38.7 billion, far exceeding other cryptocurrencies.
Institutional funds are pouring into Ethereum through ETFs. The Trump administration's policy allowing pension funds to invest in cryptocurrencies has directly opened up a channel for traditional capital. Ethereum spot ETFs saw a record single-day inflow of $1.01 billion, prompting Standard Chartered Bank to raise its year-end target price to $7,500. Meanwhile, altcoins, with the exception of XRP and Sol, are mostly facing a funding drought. Some projects, like Cardano and Polkadot, are even experiencing net outflows.
Market sentiment and risk appetite are severely disconnected. The Greed Index soared to 75, with retail investors frantically chasing ETH's gains, while altcoins, due to insufficient liquidity, have become "cannon fodder." Over the past 24 hours, $102 million in liquidated positions across the entire network, 37% of which were long positions, exposing the risks of retail investors chasing altcoins at high prices.
Ether's "siphon effect" could trigger a backlash. Although technically only 9% away from its all-time high, the overbought RSI and surge in derivatives liquidations pose hidden dangers.
The current market faces two major contradictions: a mismatch between short-term speculative demand and long-term value storage, and a conflict between institutional concentration and ecosystem diversification. If altcoins continue to lose ground, market volatility could intensify.
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