Ethereum attracts attention with network growth, entry into ETFs, and price appreciation
The recent appreciation of Ethereum (ETH) has been driven by three main factors: increased activity on the network, strong capital inflows via spot ETFs, and a more optimistic outlook among investors.
Even without surpassing its all-time high, the $ETH has maintained its leadership in the sector. The $2,800 range remains an important barrier, but data suggests a breakout is near. Ethereum's dominance remains strong: the network holds 61% of the total value locked (TVL), with 28.3% of all ETH in staking, and exchange deposits dropping to historical lows — a sign of low selling pressure.
Meanwhile, blockchains like Solana ($SOL ) have lost traction, with a decline in deposits. Conversely, projects like Pendle ($PENDLE ) have gained prominence and boosted the TVL of Ethereum's base layer.
Another significant factor is the success of ETH spot ETFs in the U.S., which have already accumulated over $837 million in net inflows since May. This reinforces the growing institutional interest, even amid concerns about falling network fees and the sustainability of returns for stakers.
The combination of increasing demand, reduced supply, and institutional support could lead ETH to break the $2,800 resistance soon.
