$ETH Indicators in the cryptocurrency market suggest a potential institutional shift that could redraw the dominance map among cryptocurrencies, after Ethereum (ETH) experienced strong financial inflows and recorded a record in the volume of staked coins, in a move that analysts see as a direct threat to Bitcoin's (BTC) dominance.
According to data from beaconcha.in, the total Ether staked on the network reached 34.65 million ETH, equivalent to 28.7% of the total circulating supply—marking the highest level recorded to date. This increase coincided with an 8% jump in the price of Ethereum in a single day.
In a notable development, Ethereum exchange-traded funds (ETFs) recorded their fifteenth consecutive day of net positive flows, totaling $837 million, reflecting a bullish trend in institutional investor confidence in Ethereum as a long-term investment asset.
Analysts at B2BINPAY believe that this data indicates a potential beginning of a 'new institutional capital cycle,' as major institutions have started to shift part of their investments from Bitcoin to Ethereum, driven by the yield advantages provided by the staking mechanism in the Ethereum network.
The analysis indicated that Ethereum retains strong upward momentum as long as the price remains above the support level of $2,320, while breaking the $2,000 barrier seems unlikely at the moment.
