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The warning comes as the Ethereum Foundation reduces spending, adjusts its treasury strategy and undergoes a wave of leadership departures.

Despite persistent market uncertainty and bearish sentiment across parts of the cryptocurrency sector, Ethereum is approaching a significant adoption milestone, with the number of non-empty wallets nearing 200 million. While price fluctuations often dominate investor attention, the steady growth in wallet activity suggests that participation in the ETH ecosystem continues to expand. How Ethereum’s Expanding User Network Signals Resilience Ethereum is rapidly approaching a major adoption milestone, with the network now approaching 200 million non-empty wallets despite high Fear, Uncertainty, and Doubt (FUD). Santiment Intelligence on X pointed out that the ETH network continues to grow exponentially compared to other top market capitalizations, while facing some of the most negative sentiment in crypto. Related Reading: Ethereum Price Gets Crushed To $1,840 Amid Relentless Selling Pressure The network now boasts approximately 195 million non-empty wallets, significantly outpacing Bitcoin’s roughly 59 million. This represents a lead of more than 230%, a gap that has continued to grow across multiple market cycles. While social media narratives focus on ETH’s recent price underperformance, user adoption continues to move in the opposite direction. ETH now sits just 5 million wallets away from the 200 million milestone. Much of the growth is driven by ETH dominance in Decentralized Finance (DeFi), staking, and broader on-chain activity, where users are not just holding assets but actively participating in the network. Despite the recent crowd sentiment indicators falling into extreme fear territory, ETH’s rising wallet growth suggests that long-term adoption continues to accelerate beneath the surface. Why Ethereum’s Consolidation May Be A Sign Of Market Maturity Ethereum’s current market structure may be less a sign of weakness and more a reflection of a natural consolidation process. According to Materkel, ETH remains one of the fastest assets in history to reach a $500 million valuation, even if Anthropic might overtake it depending on when it goes public. Related Reading: The Mistake Investors Are Making About Ethereum That Could Cost Them Money; Analyst Rather than signalling weakness, this appears to be an extreme healthy consolidation that happens after an asset has experienced a meteoric rise. Materkel argues that a large portion of BitMine’s ETH is most likely coming from long-term holders who invested as early as the initial coin offering (ICO) or at sub-$100 levels. Over the past five years, with ETH trading between $1,000 and $5,000, many of these investors have had ample opportunity to realize substantial gains. Though some of these investors may have lost conviction, they are also sitting on outsized profits for more than 5 years. It’s only natural that they would sell a bit at some point. Historically, many of the world’s most successful assets have experienced lengthy consolidation phases after periods of explosive growth in the stock market. These consolidation periods often lasted 5, 10, or even 20 years, and are frequently accompanied by widespread skepticism before eventually giving way to powerful new expansion phases. Featured image from Getty Images, chart from Tradingview.com

Ethereum derivatives activity is flashing a fresh signal on Binance, where open interest measured in ETH terms has reached a new all-time high. The move comes as traders reassess Ethereum after a steep drawdown, even as macro and geopolitical uncertainty continue to suppress broader risk appetite. CryptoQuant analyst Darkfost said the market has become “increasingly difficult to interpret,” with investors and institutions operating against a backdrop of elevated uncertainty tied to tensions between the United States and Iran. That uncertainty is not happening in isolation. According to the analyst, deteriorating economic prospects have made large-scale capital deployment a riskier decision, naturally limiting the willingness of market participants to add exposure. Still, Ethereum futures are showing renewed signs of speculative demand. Binance Ethereum Open Interest Hits New High Darkfost said speculative activity has recently started to revive in derivatives, with Ethereum standing out. The analyst noted that ETH is currently trading roughly 67% below its previous all-time high and has moved into what he described as “an area of extreme oversold conditions” over the past few days. Related Reading: Three Wallets Withdraw $122M In Ethereum From FalconX And Kraken: Is Tom Lee Buying Again? That weakness appears to have drawn in traders looking to rebuild exposure after months of pressure. “Some traders have not overlooked this opportunity and have chosen to increase their exposure despite the risks,” Darkfost wrote. The result, according to the post, is a record level of Ethereum positioning on Binance. “As a result, Binance has just recorded a new all time high in Ethereum Open Interest (ETH value), with nearly 3.7 million ETH currently positioned in futures contracts on the platform,” the analyst said. The figure is notable because it measures positioning in ETH terms rather than only in dollar value. After a large price decline, dollar-denominated open interest can look subdued even when the number of ETH contracts being carried by traders is rising. In this case, the increase suggests that speculative exposure to Ethereum is growing despite the weaker spot price environment. Binance’s role in that activity has also expanded. Darkfost said the exchange’s share of total Ethereum open interest has risen above 44%, reinforcing its dominant position in the ETH derivatives market. Traders Shift After Months Of Seller Dominance The more important question is whether the record open interest reflects bottom-fishing, leveraged hedging, or a more durable change in market positioning. Darkfost’s post points to at least some improvement on the buy side. Related Reading: Ethereum OG Nails The Crash: Sells $188M, Buys Back Lower “Following Ethereum’s sharp devaluation, traders appear to be gradually returning to the buy side,” the analyst wrote. “On Binance, the weekly average Taker Buy/Sell Ratio has increased from 0.95 to 1.0, reflecting a rebalancing of flows after several months of seller dominance.” That move from 0.95 to 1.0 does not indicate aggressive upside chasing by itself. Rather, it suggests that flows have moved closer to balance after an extended period in which sellers had the upper hand. In futures markets, that shift can matter because open interest rising alongside improving taker flow often shows that traders are no longer only using derivatives to press downside momentum. The backdrop remains fragile, however. Higher open interest can amplify moves in either direction, especially when positioning builds during periods of macro stress. If the long side is indeed rebuilding, the market may become more sensitive to forced deleveraging if ETH fails to hold the levels attracting dip buyers. Darkfost framed the setup cautiously, noting that Ethereum sentiment has “deteriorated significantly in recent months.” Even so, the analyst said more investors now appear willing to take the risk of rebuilding exposure, “particularly on the long side,” after a prolonged stretch of dominant selling pressure across futures markets. At press time, ETH traded at $1,658. Featured image created with DALL.E, chart from TradingView.com

The Ethereum price decline seems to have opened up the opportunity for fast accumulation among investors over the last week. This comes as data shows a significant amount of the cryptocurrency actually being moved out of the wallets of centralized exchanges. Historically, a move like this has pointed to investor buying rather than selling, suggesting that investors are taking advantage of the red month of June to actually fill up their bags. The Numbers Say Ethereum Investors Are Choosing To Buy Recent data from CryptoQuant, an on-chain data aggregator, shows that Ethereum investors are moving into accumulation mode for the month of June. This comes as the cryptocurrency started out the month with hundreds of thousands of ETH being moved out of centralized exchanges and presumably to private wallets. Related Reading: Dogecoin Will ‘Pump Hard’ After This Happens, Analyst Clocks Generational Entry The data shows that Ethereum had started out the month of June with 3.87 million ETH. However, just one week into the new month, there had been over 475,000 ETH withdrawn from centralized exchange wallets. This move was not only felt on one crypto exchange, but with notable declines coming in from major exchanges. The top losers included the likes of Binance, Bitfinex, OKX, and Gemini exchange, all recording major outflows during this time. This move also comes as the Ethereum price has declined below the $2,000 support, suggesting that investors are looking at these prices as low levels to get into the cryptocurrency. Buying ETH In A Red Month The month of June has historically been a red month for the Ethereum price, so the argument could be made that investors are using this opportunity to load up on the cryptocurrency. In its decade in the market, the ETH price has only closed June in the green a total of three times, data from the CryptoQuant website shows. Related Reading: Has The Bitcoin Price Crash Ended Or Is This Just The Beginning? Analyst Answers All of the other years have seen the digital asset end the month of June with varying degrees of losses. This brought the average return for the month for Ethereum to -7.59%, second only to September’s average of -10.2%. The median returns come out to -8.64% for June and -12.7% for September. This means that June is the second-worst-performing month for the Ethereum price. Keeping in line with historical performance, the ETH price is already down by over 16% at the time of this writing, suggesting that it could lead to another red close for the digital asset. Featured image from Dall.E, chart from TradingView.com

Morpho, a decentralized lending protocol operating on Ethereum, HyperEVM, and other blockchains currently holding $6.6 billion in total value locked, has raised $175 million in a funding round led by Paradigm, Ribbit Capital, and Andreessen Horowitz’s digital assets arm a16z crypto — valuing the protocol at up to $2 billion and positioning it for an eventual public debut as its founders set their sights on bringing Wall Street’s most traditional institutions into DeFi, according to Fortune’s report published June 9. Related Reading: The XRP Dream Has Changed: Why A Rally To $10 Could Happen Despite Disappointment The round also drew participation from Apollo Funds, Circle’s venture unit, and VanEck — a coalition of backers that spans crypto-native venture capital, traditional asset management, and institutional finance simultaneously. The investment was structured in cryptocurrency and priced at the token’s average monthly price, with the exact cost varying by when participants contributed, per Fortune’s reporting of co-founder Paul Frambot’s account. ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview The 25-Year-Old Taking On TradFi Frambot, who is 25 years old and founded Morpho at 20 alongside three fellow French co-founders — Merlin Egalite, Julien Thomas, and Mathis Gontier Delaunay — framed the fundraise with characteristic directness in his conversation with Fortune. “I think TradFi is going to have to wear shorts,” he told the publication — a reference to the cultural gap between crypto’s hoodie-and-shorts developer community and the suit-wearing institutions he is now actively courting. His pitch to those institutions is grounded in yield. Morpho allows any user to create their own blockchain-based lending markets with customizable risk parameters — effectively enabling anyone to build their own version of Aave, the incumbent DeFi lender that currently holds nearly $12.5 billion in TVL, per Fortune’s citing of DeFiLlama data. Morpho’s $6.6 billion positions it as the clear second-largest player in the decentralized lending space, a gap that has narrowed considerably after Aave’s significant exposure to a $290 million hack of other crypto protocols in April 2026, per Fortune. Ethereum And Crypto DeFi: The Institutions Already Inside Morpho’s existing user base signals the institutional crossover is already underway. Coinbase, Kraken, Anchorage Digital, and Galaxy Digital all use Morpho’s infrastructure, per Fortune’s reporting. Guy Wuollet, general partner at a16z crypto, described the moment to Fortune as one where traditional finance professionals may need casual Fridays while DeFi builders dress up ever so slightly — a convergence he views as the natural direction of an industry increasingly operating in lockstep with institutional capital. Frambot himself recently attended an event at the New York Stock Exchange — and wore trousers. This development marks a pivotal moment for the nascent sector’s relationship with mainstream venture capital and traditional finance. Related Reading: Citrini Research Puts Hyperliquid On Wall Street’s Crypto Radar A $175 million raise from three of the most prominent names in both crypto, Ethereum, and conventional investing — targeting the same Wall Street institutions that have spent two years cautiously circling DeFi — is the clearest signal yet that decentralized lending is no longer a crypto-insider experiment. It is becoming infrastructure that institutional capital intends to use. Cover image from ChatGPT, ETHUSD chart from Tradingview

Ethereum’s crash below $1,500 over the weekend has pushed sentiment into one of its most fearful phases since the previous bear market, but crypto analyst Crypto Patel believes the current selloff should be viewed through a longer lens. The analyst’s roadmap places ETH inside a broad accumulation range, with the chart showing that the same movement as previous Ethereum tops and bottoms is still playing out, and Ethereum might be declining into an accumulation zone. Ethereum Enters Panic Zone As Price Revisits $1,500 Ethereum’s weekend drop has brought ETH close to $1,500, extending a painful correction that has already erased a large part of the gains since its August 2025 ATH. Recent market data from TradingView shows ETH briefly touched $1,505 on Saturday, June 6, during a crypto market-wide selloff, a move that has increased panic among traders, as evidenced by various posts on social media platforms. Related Reading: Institutions Are Loading Up On XRP, But Liquidity Tells A Different Story Crypto Patel’s reaction to the decline was that panic selling is not the answer. Technical analysis of the 2-week candlestick timeframe chart shows that Ethereum is now trading close to a zone where long-term investors should begin thinking in terms of staged accumulation, not emotional exits.  Patel placed his preferred ETH/USDT accumulation range between $1,550 and $1,000, noting that the bottom could be in this zone, but no one can accurately call the exact bottom. The chart attached to his outlook, which was posted on the social media platform X, shows Ethereum trading on top of a green accumulation zone above the $1,000 support area.  Ethereum 2-Week Price Chart. Source: @CryptoPatel On X This range is the strong support, and any downside from the current price levels will be limited to $1,000. However, a break below $1,000, if it happens, will only last a few days as a final liquidation move to force weaker holders out. Long-Term Roadmap To $16,000 Ethereum’s full price history, viewed through an Elliott Wave structure, shows the 2017 and 2021 peaks as major cycle tops within two separate cycles. The current price action is classified as a Wave 4 correction in a five-impulse wave count that started after the 2021 top. Wave 4 is a correction to a major accumulation point before a projected Wave 5 expansion phase into 2026 and 2027. Related Reading: Here’s How High The Bitcoin Price Will Climb If It Breaks The Current Bear Trend Patel’s roadmap places $3,945 as a major resistance level, which is close to the zone that capped several rallies after the 2021 peak. A breakout recovery above that price level would likely be the first confirmation that Ethereum has moved out of the accumulation structure and back into a larger bullish Wave 5 phase. The projected Wave 5 extension targets $16,000, timed to a cycle top between 2026 and 2027. Patel also stated that ETH above $10,000, and possibly even $20,000, are possible over the long term.  Featured image created with Dall.E, chart from Tradingview.com

Ethereum’s latest price crash has pushed the cryptocurrency below $1,800, placing its monthly chart under pressure at a time when the entire crypto market sentiment has turned heavily bearish. There is also another weakness coming from the monthly RSI, which has now dropped to its lowest level since the asset launched in 2015. That reading has made the current setup very important, as previous deep RSI resets appeared near major Ethereum cycle lows in 2020 and 2022, and there’s also a question of whether the same pattern is forming again. Related Reading: Bitcoin Price Plunges To $59K, Sparking Fears Of Deeper Decline RSI Hits Its Lowest Level Since Ethereum’s Launch Ethereum has endured a brutal nine months since it peaked at $4,946 in August 2025. The brutal price action has culminated in a break below $1,800 in June, with the leading altcoin falling to as low as $1,536 in the past 24 hours, which is its lowest price level so far in 2026. Interestingly, that crash has caused the monthly Relative Strength Index (RSI) on ETH/USD to print its lowest reading since Ethereum’s launch in 2015. The monthly RSI indicator chart shows the index dropping to around 40, its lowest level on the monthly timeframe since ETH began trading in 2015. Ethereum Price Chart. Source: @CryptoPatel On X What Does This Mean For Ethereum? Back in 2020, Ethereum’s RSI reached a depressed level before ETH began a massive rally from around $88 to its 2021 peak above $4,800. Again in 2022, another deep RSI reset came before ETH eventually rallied from around $880 to its 2025 all-time high. The current setup is not a guarantee that these same rallies will repeat, but it does show that Ethereum is now in the type of momentum zone that has always appeared closer to major bottoms than cycle tops.  A notable difference this time is that the RSI has gone even lower, making the 2026 reading the most extreme in the cryptocurrency’s history. If history repeats itself, the ensuing rally might be even larger than those seen in the previous cycles. Technical analysis of the monthly candlestick timeframe presents Ethereum as moving through another four-year cycle, similar to the move from the 2017 top to the 2021 top. As shown in the chart image above, the 2017 cycle peak is the first major top, the 2021 peak is the next major cycle high, and then there is a projection of a possible top around $10,000 sometime in 2026-2027. Related Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For Confirmation At the time of writing, Ethereum is trading at $1,612, leaving bulls with the immediate task of defending the $1,600 region with stronger inflows. Speaking of inflows, Spot Ethereum ETFs ended a 17-day streak of outflows on Thursday, June 4, after recording $19 million in net inflows. However, that relief was short-lived, as Friday’s session returned to negative territory with $5.97 million in net outflows. Featured image from Unsplash, chart from TradingView

Ethereum is approaching a critical technical crossroads as bearish momentum continues to weigh on price action. With a major support zone now under intense pressure, traders are closely watching whether bulls can defend this level or if a breakdown will open the door to a deeper decline.  Bear Flag Breakdown Keeps Ethereum Under Pressure  Ethereum continues to slide, aligning with the broader bearish sentiment currently dominating the market. According to analysis from More Crypto Online, the asset’s recent breakdown from a previously identified bear flag and rejection of the yellow trendline strengthen the hypothesis that the significant B-wave rally peaked back in April. These technical failures serve as strong indicators that the prevailing trend remains firmly to the downside. Related Reading: Ethereum Price Downtrend May Not Be Over—Sub-$1,700 Levels Loom The leading scenario currently suggests that Ethereum is developing within a larger C-wave decline, with major support levels established at $1,550 and $1,400. While the price has already begun to react from the first support area, traders should remain cautious because bear market cycles frequently involve corrective rallies that can emerge unexpectedly from these support zones. In terms of risk management, any potential recovery attempt is anticipated to remain strictly corrective as long as the price continues to trade beneath the yellow trendline resistance. However, a stronger recovery would require the bulls to reclaim substantial resistance levels and fundamentally invalidate the current bearish framework. At this stage, such a reversal lacks the necessary confirmation and market strength. Ultimately, Ethereum remains locked in a definitive bearish trend following its exit from the bear flag formation. With support levels at $1,550 and $1,400 now squarely in focus, the structural setup continues to favor lower price action over an immediate reversal.  ETH Reaches A Critical Decision Zone  Crypto analyst MarketMaestro noted in an X post that Ethereum has successfully held both its long-term support trendline and a key Fibonacci support level on the monthly chart. According to the analyst, the current price zone has become a critical battleground between a routine correction and a much deeper structural decline. Related Reading: Ethereum’s Multi-Year Support Test Could Shape Its Next Big Move A monthly close below the current support area would significantly weaken Ethereum’s technical outlook and raise the risk of a broader breakdown. On the other hand, if support continues to hold, the recent pullback could still be viewed as a healthy correction within the asset’s longer-term bullish framework. Furthermore, if Ethereum manages to hold support, form a wick on the monthly candle, and rebound from current levels, it would suggest that buyers are aggressively accumulating during the dip and treating it as a high-value entry zone. Despite the possibility of a recovery, MarketMaestro cautioned that the stakes remain high. A decisive breakdown below support could force Ethereum into a prolonged bottoming process, potentially extending the period of weakness before a sustainable uptrend. Featured image from Getty Images, chart from Tradingview.com

Technical analysis of the 3-week chart outlook shows ETH pressing into the apex of a golden triangle formation that has survived the Covid crash, the 2022 bear market, and the ongoing 2026 correction. According to the analyst who first identified it, what happens next at the apex of that structure may define Ethereum’s trajectory for the next several years. Ethereum’s Nine-Year Structure Ethereum’s 3-week candlestick chart highlights a long ascending support line beginning near the early market cycle lows and stretching through the 2020 Covid crash, the 2022 bear market, and the latest correction since its August 2025 all-time high of $4,946.  Related Reading: The Last Time Ethereum Did This Against Bitcoin, It Exploded Above $4,000 The formation’s upper boundary is a horizontal trendline, around the $4,800 to $4,900 range. Ethereum has struggled around that horizontal resistance, including during the 2021 peak and again during its return to record peaks. The lower boundary, however, has been the more important part of the structure because it has defined the larger bull-market trend for almost a decade. Each major downturn has tested the trend, but the structure has not yet broken with a close below the support trendline with a 3-week candlestick. That is why the current position on the chart is more than another routine support test. According to a crypto analyst that goes by the name Crypto Tice on X, this is the moment of truth. The triangle has survived everything the market threw at it, but nothing it has faced compares to right now. Where Ethereum Goes From The Golden Triangle The Golden Triangle now leaves Ethereum with two scenarios. The first is the bullish path, which depends on ETH continuing to hold the long-term ascending support line. The important breakdown level is at $1,950, meaning Ethereum still has to close the current 3-week candlestick above this level to keep the nine-year structure alive.  Related Reading: The Mistake Investors Are Making About Ethereum That Could Cost Them Money; Analyst A successful hold above $1,950 would keep Ethereum inside the triangle and give bulls a chance to push the price back into the upper range of the structure. From there, the next important price level to watch is $4,350. That would turn the defensive setup into a breakout structure, with analyst Crypto Tice’s projected target at $10,000. The second scenario is the bearish one. A break and multiple candlestick closes below $1,950 would carry far more weight than a normal pullback because it would push Ethereum beneath the rising support that has guided the market through the Covid crash and the 2022 bear market. Such a move would cancel out the golden triangle thesis and imply that the nine-year bullish structure has finally failed. At the time of writing, Ethereum is trading at $1,575, down by 6% and 22% in the past 24 hours and seven days, respectively. However, there’s still time for Ethereum to return above $1,950 before the end of June. Featured image from iStock, chart from Tradingview.com

Ethereum is currently trading at a pivotal zone where long-term support and emerging bullish momentum are converging. With buyers attempting to defend a key multi-year trendline, the coming sessions could prove decisive for the asset’s broader outlook. A successful hold may set the stage for a powerful breakout, while failure could delay Ethereum’s next major rally. Ethereum Tests Critical Multi-Year Trendline Support After losing the $2,000 price mark, Ethereum continues to trend downward. However, recent analysis from World of Charts highlights that Ethereum has reached a critical technical juncture, currently testing a vital multi-year ascending trendline. The fact that this support zone is holding so far is a positive development, marking it as the most important area to monitor throughout the coming weeks. Related Reading: Ethereum Price Roadmap For The Rest Of 2026: Bull, Base, And Bear Scenarios Unpacked For a shift in momentum to occur, the asset needs to maintain this base while simultaneously overcoming the descending trendline overhead. Successfully reclaiming this overhead resistance would represent a major technical victory, potentially triggering a strong bullish wave and initiating a significant upward move. Despite the favorable setup, confirmation remains essential before projecting a larger rally. The stability of this support zone is the primary prerequisite for growth; if buyers continue to defend this level and a clean breakout is realized, Ethereum could be positioned for a substantial long-term bullish rally with significantly higher targets ahead. While patience remains the best strategy, the developing structure is becoming increasingly compelling for long-term investors and active traders alike. Closely monitoring these specific technical boundaries will be vital in identifying exactly when the market is ready to transition into its next expansion phase. Reclaims The 4H 200 MA And EMA After Months Of Weakness Speaking in a recent post, crypto analyst Daan Crypto Trades highlighted that Ethereum has achieved an important technical milestone by breaking above its 4-hour 200 MA and 200 EMA for the first time since losing those levels in April. The move suggests that short-term momentum may be shifting back in favor of the bulls after months of weakness. Related Reading: Ethereum Pullback Deepens, But Key Structure Still Signals Bullish Hope The analyst also pointed to Ethereum’s resilience against Bitcoin in recent sessions, noting that the asset has continued to show strength on lower timeframes. This relative outperformance has helped fuel optimism that ETH could be building a stronger recovery structure. According to Daan Crypto Trades, the breakout is worth monitoring closely. If Ethereum can maintain its position above these key moving averages, it could provide a boost to ETH-related sectors, particularly DeFi tokens and other ecosystem assets, especially if Bitcoin dominance continues to decline and capital begins rotating into alternative cryptocurrencies. Featured image from Pixabay, chart from Tradingview.com

CoinShares has laid out a five-year valuation framework for Ethereum that puts ETH at $14,135 by 2031 in its bull case, arguing that the asset’s long-term value now depends less on base-layer fees and more on its role as money, collateral and settlement infrastructure across the Ethereum economy. How High And Low Could Ethereum Go By 2031? The report, written by Luke Nolan, CoinShares’ senior research associate for Ethereum, frames ETH through a sum-of-parts model combining a cash-flow valuation, a monetary premium valuation and an additional network/speculative overlay. The headline outputs are wide: a bear case of roughly $1,443 by 2031, a base case of $4,935 and a bull case of $14,135, implying annualized returns of -9%, 16% and 43%, respectively, from current spot levels. Ethereum is getting harder to value. After Dencun, fees collapsed, but network usage kept growing. Our latest research by Luke Nolan (@eazygambit) introduces a 5-year sum-of-parts framework for ETH, combining cash flows, monetary premium, and network effects. Base case: ~$4,935… pic.twitter.com/dd938gknAR — CoinShares (@CoinSharesCo) June 2, 2026 The central premise is that Ethereum has become harder to value after Dencun. CoinShares notes that the upgrade moved execution activity away from the base layer and toward layer-2 networks, pushing user costs down and throughput higher, but also sharply reducing the fee revenue that had previously supported ETH’s “ultrasound money” narrative. Weekly fees that peaked above $200 million in early 2024 now run closer to $10 million, even as monthly active users have roughly doubled over the same period. “Ether is not a tech stock and it is not digital gold,” the report states. “It is the native asset of a permissionless platform on which builders can deploy essentially anything, drawing on decentralised security, leading liquidity, and global access. Within that ecosystem, ether also functions as money and as collateral.” Related Reading: Ethereum Coinbase Premium Hits Lowest Level Since February – Traders Are Watching That distinction drives the structure of the model. CoinShares’ first framework treats Ethereum like a business selling blockspace, projecting fee revenue across DEX trading, stablecoin transfers, DeFi activity, blob transactions, ETH transfers, real-world asset settlement, staking operations and a residual “other” category. In that framework, the contribution to ETH’s 2031 price is modest: $25 in the bear case, $385 in the base case and $2,055 in the bull case. Ethereum’s Future Depends On A Monetary Premium The second framework carries much more weight. It treats ETH as the monetary and collateral base of the Ethereum ecosystem, modeling demand from staking, DeFi collateral, layer-2 reserves, ETF inflows, corporate treasury allocations and store-of-value buying. CoinShares says this component produces a 2031 price contribution of $1,774 in the bear case, $3,960 in the base case and $10,065 in the bull case. Across the report, the bull case is deliberately demanding. It assumes Ethereum’s structural demand sources compound at elevated levels, rather than merely stabilize. CoinShares models fee revenue reaching $5.7 billion by 2031, supported by DEX volumes growing at a 25% CAGR and Ethereum L1 market share expanding to 35%. Stablecoin supply, in this scenario, reaches $2.8 trillion at a 50% CAGR, while tokenized real-world assets scale to $420 billion on Ethereum specifically. ETF flows are also a major variable. In the bull case, CoinShares assumes annual ETF flows reach $40 billion by 2031, while corporate buying rises to $25 billion and store-of-value demand grows meaningfully as the asset class matures. A 3x regime multiplier is then applied to buying pressure, reflecting a market environment with fewer willing sellers and stronger price discovery. Related Reading: The Last Time Ethereum Did This Against Bitcoin, It Exploded Above $4,000 “The bull case requires the six demand catalysts identified in section 4 to compound at high levels, with Ethereum increasing its market share over time as opposed to maintaining it,” CoinShares wrote. “One might consider this scenario an ‘everything has worked out perfectly and more’ scenario.” The base case is more restrained, but still constructive. It assumes Ethereum remains the dominant smart contract blockchain, DEX volumes grow at a 17% CAGR, L1 DEX share holds at 20%, stablecoin supply on Ethereum reaches around $450 billion by 2031 and DeFi TVL compounds at 25%. That path gives ETH a $4,935 implied price by 2031, or roughly 110% upside over five years. CoinShares says the greatest probability lies somewhere between the base and bull cases. The report argues Ethereum does not need to win every category to clear the base-case target, but it does need to hold DEX share, maintain its stablecoin position, deliver scaling upgrades such as Glamsterdam, and see ETH ETF flows improve toward bitcoin-adjusted levels. The key risk is that Ethereum’s post-Dencun economics remain unresolved. CoinShares explicitly flags weak fee revenue, uncertain blob mechanics, competitive pressure from alternative layer-1s, regulatory friction, monetary policy changes and delayed scaling milestones as variables that could force the model to be revisited. At press time, ETH traded at $1,870. Featured image created with DALL.E, chart from TradingView.com

After the latest Ethereum (ETH) pullback, some analysts have pointed to a bearish setup that suggests the leading altcoin could see another correction toward its potential market bottom. Related Reading: Arthur Hayes Bets $100K On Hyperliquid, Says HYPE Will Beat Solana By Year‑End Ethereum Bear Setup Breakdown Spells Trouble On Tuesday, Ethereum saw a 5.5% intraday drop from its daily opening, falling below the $1,900 barrier for the first time since late February. Notably, the King of Altcoins broke down from its five-day range between $1,965-$2,035, reaching a two-month low of $1,880. Amid today’s broader pullback, which also sent Bitcoin (BTC) toward the $67,000 support, market observer Trader Tardigrade affirmed that ETH’s final correction may be around the corner as a key bearish pattern is “repeating perfectly.” The trader pointed out a breakdown from a bear flag formation on the altcoin’s three-day chart. The setup had been forming since the February market crash, with the cryptocurrency breaking out of the pattern’s lower boundary around mid-May, when the price lost the $2,200 area. According to the above chart, this is the second time this pattern has formed since the Q3 2025 highs, with the first setup developing between late 2025 and early 2026, and resulting in the Q1 2026 40% crash. More importantly, Ethereum appears to be repeating the same path as its correction from the Q4 2024-Q1 2025 rally. After topping in late 2024, the cryptocurrency printed two consecutive bear flags, followed by a fresh leg down, before reaching its local bottom and eventually starting a new bullish rally. Now, “the structure is identical. Same breakdown. Same setup,” which suggests that “the final dip” toward the market bottom may be around the corner. “Once this dip completes, we’re headed straight into the next explosive leg up,” the trader stated. Where Is ETH Headed? Analyst Rekt Capital noted that Ethereum closed the month below its multi-year uptrend for the second time in five months. The last time this happened, the altcoin saw a “limited move to the upside” but was quickly rejected from the crucial $2,400 horizontal level. This signals that the rallies stemming from this trendline “are clearly weakening,” with the multi-year uptrend “likely faltering.” According to the analysis, ETH must hold the 2026 lows, around $1,750, or reclaim the uptrend to avoid a deeper correction. Similarly, Ali Martinez named this level a crucial support amid the recent price action. As he explained, Ethereum is approaching the bottom of its four-month horizontal channel, which is near the $1,825 level. To the analyst, “that area could offer a favorable risk-reward entry targeting $2,073 and $2,360, as long as price remains above $1,750 on a daily closing basis.” However, he has previously warned that since the price was rejected from the mid-zone of a multi-year channel and the 200-week Simple Moving Average (SMA), the altcoin risks a deeper correction. Related Reading: The Bitcoin Retracement Rally And The Resistance Level That Could End It All Therefore, if ETH sees a weekly close below the $1,850 area, “downside acceleration becomes highly likely,” with the channel structure pointing to two major downside targets, from a technical perspective. Martinez concluded that the initial retracement would see Ethereum retest the interim structural support around $1,560, while a deeper correction could push the price near the lower boundary of the multi-year range, at $1,070. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum is struggling below $2,000 as selling pressure and market uncertainty combine to keep the asset pinned beneath a level that has become the defining test of whether the recovery from the cycle lows has any structural foundation remaining. The price is under pressure — and an Arab Chain report tracking the Coinbase Premium Index has identified a signal in the US institutional demand data that provides a specific explanation for why the recovery keeps failing to sustain itself. Related Reading: HYPE Reaches New All-Time Highs Above $70 – A Legendary Trade Turns Green The Coinbase Premium Index for Ethereum has fallen to approximately -0.16 — its lowest level since February — before a slight rebound brought it back toward -0.14 in recent sessions. The index measures the price difference between Ethereum trading on Coinbase against the US dollar and on Binance against USDT. When the reading is negative, Ethereum is cheaper on Coinbase than on Binance — a condition that directly reflects reduced buying activity from US-based participants relative to global liquidity. At -0.16, the signal is not ambiguous. American institutional and retail demand for Ethereum on the most regulated and most scrutinized US exchange has been running below global demand for an extended period. The slight rebound toward -0.14 suggests the worst of the US selling pressure may be moderating — but the index remaining at February lows confirms that the recovery in domestic demand has not yet arrived at the scale that would change the structural picture for Ethereum attempting to reclaim $2,000. US Demand Has Been Absent Since February The Arab Chain report places the current reading in the context that gives it its full weight. The Coinbase Premium Index has remained in negative territory for extended periods since the beginning of 2026, experiencing several sharp declines throughout the year. The current reading near -0.16 does not represent a new deterioration from a previously healthy baseline — it represents a continuation and deepening of a condition that has been present for months. Ethereum Coinbase Premium Index | Source: CryptoQuant That persistence is the most alarming element of the data. A single negative reading can reflect a temporary imbalance. Months of sustained negative readings describe a structural absence of the US institutional demand that historically drives Ethereum’s most durable advances. The price behavior that accompanies the premium data completes the picture. Ethereum has been moving sideways without clear upward momentum — a dynamic consistent with a market where global liquidity and short-term speculation are providing enough activity to prevent a collapse but insufficient conviction to drive a sustained recovery. Binance’s price premium over Coinbase confirms that the participants currently setting ETH’s price direction are operating through offshore venues rather than the regulated US infrastructure most associated with long-term institutional allocation. Declining market risk appetite and increased derivatives volatility are the macro conditions compounding the absence of domestic demand. Until the Coinbase Premium recovers into positive territory and sustains there, the market structure the Arab Chain report describes — global speculation filling the gap left by absent US investment flows — is unlikely to produce the kind of directional advance Ethereum needs to reclaim $2,000 with conviction. Related Reading: Chainlink Sends A Rare Signal As 66% Of Exchange Supply Sits On Binance Ethereum Breaks Below Key Support Ethereum is trading near $1,975 after decisively losing the psychological $2,000 level and continuing the downtrend that has developed since its rejection from the $2,300–$2,350 resistance zone in May. The chart shows a clear deterioration in market structure, with ETH now trading below its 50-day, 100-day, and 200-day moving averages — a configuration that confirms bearish momentum across multiple timeframes. Ethereum consolidates below $2,000 mark | Source: ETHUSDT chart on TradingView The most important development is the breakdown below the April support area around $2,050–$2,100. That zone previously acted as a launching point for the rally toward $2,400, but sellers have now reclaimed control and turned former support into resistance. Volume has remained relatively stable during the decline, suggesting the move is being driven by persistent selling pressure rather than a single liquidation event. Related Reading: Ethereum Flashes A Rare Signal As Open Interest Reaches Highest Level Since 2019 From a technical perspective, ETH is approaching a critical demand zone between $1,820 and $1,920, highlighted on the chart. This area marked the February cycle low and previously attracted significant buying interest. As long as ETH remains above this region, bulls can argue that the broader range structure remains intact. However, failure to hold this support would significantly increase downside risk. A clean breakdown below $1,820 could open the door to a deeper correction toward the $1,700 region. For bulls to regain momentum, Ethereum must first reclaim $2,050 and then challenge the major resistance cluster between $2,250 and $2,350, where every recovery attempt has failed since April. Featured image from ChatGPT, chart from TradingView.com 

Ethereum is back at a point on its Bitcoin pair where the price action has always started to ask a dangerous question: is ETH still weak, or is it being priced for another rotation? A new ETH/BTC chart shared by crypto analyst BLADE shows Ethereum falling through 14 straight lower closes against Bitcoin, taking the pair below the same relative strength zone during its February low. The setup matters because the last visit to that area came at a moment of heavy pessimism around Ethereum. A few weeks later, ETH began to outperform Bitcoin, and the move eventually carried Ethereum above $2,450. Ethereum Returns To The Same ETH/BTC Buy Zone BLADE’s analysis focuses on the Ethereum/Bitcoin pair, where ETH has moved into a clear short-term breakdown against BTC after weeks of steady underperformance. The pair was trading above 0.0313 in April, but that level gave way as sellers continued to pressure Ethereum relative to Bitcoin.  Related Reading: The Mistake Investors Are Making About Ethereum That Could Cost Them Money; Analyst By May, ETH/BTC had fallen below 0.027 after recording 14 consecutive lower closes, dragging it to its lowest level since July 2025. That decline means that the Ethereum price has not only been falling in dollar terms or struggling with the broader crypto market but has also been losing ground directly against Bitcoin. However, the most recent red candle on the ETH/BTC pair turned out to be a doji candlestick, which is the ultimate candlestick of indecision. The current candlestick is still green, and the Ethereum price is now in a position of outperforming the Bitcoin price. Interestingly, the deeper point in BLADE’s analysis is where the decline has brought the pair. The ETH/BTC RSI has returned to the same support zone that appeared around the February low, near the lower 30s on the indicator. That zone is highlighted on the chart below as the area where momentum became stretched enough in February for Ethereum to begin recovering against Bitcoin. What’s Next For Ethereum? At the time of writing, the ETH/BTC pair is trading at 0.02835, which is about 35% below its August 2025 high of 0.0434. This was the last time the Ethereum price was in a period of peak outperformance against Bitcoin, and it led to a breakout above $4,000 and its current all-time high of $4,946.  Related Reading: Can Ethereum Stage The Biggest Comeback In History? Why Price Could Double Ethereum’s current setup is not identical to August 2025, but the rhythm is similar enough. The pair has returned to the same momentum support area, and the lower-close sequence has become stretched. The pair now needs to stop printing lower closes and reclaim the breakdown zone, and Ethereum starts seeing more inflows compared to Bitcoin, especially as BTC has now broken below $70,000 in the past 24 hours. However, Ethereum has not been immune to the broader market weakness either, with ETH also falling below $2,000 in the past 24 hours. Featured image from Freepik, chart from Tradingview.com

On-chain data shows large wallets on the Ethereum network have continued to accumulate despite the price decline that the asset has faced. Ethereum Holders With At Least 100,000 ETH Now Control 22% Of Supply According to data from on-chain analytics firm Santiment, the Ethereum investors owning at least 100,000 ETH have been accumulating recently. At the current exchange rate, this 100,000 ETH cutoff converts to nearly $200 million, so the only holders that would qualify for the cohort would be the big-money ones. Related Reading: Cardano Millionaire Wallets Reach Highest ADA Holdings Since 2017 In fact, the sums held by members of this group are so significant that they would be classified as large even among the whales, the popular cohort for classifying influential investors. Now, here is a chart that shows the trend in the total supply held by these Ethereum mega whales over the last few months: As displayed in the above graph, the Ethereum investors with 100,000+ ETH have collectively added a net amount to their holdings since the start of May. Interestingly, this trend of accumulation has maintained despite the bearish turn that the market has taken in the second half of this month. From the chart, it’s visible that these humongous ETH investors now hold a total of 17.41 million tokens, the highest in around nine weeks. In supply percentage terms, their holdings occupy a share of 22.03%, which is a 10-week high. The fact that the massive Ethereum whales have been adding to their holdings recently can naturally be a positive sign for the cryptocurrency, but something to keep in mind is that the supply of this group has still followed an overall decline since Q4 2025. Considering this, it only remains to be seen whether the current trend will continue for long enough to reverse this drawdown. Related Reading: Crypto Faces Nearly $1 Billion In Liquidations As Bitcoin, Ethereum Crash In related news, on-chain analytics firm CryptoQuant has also shared some data related to large holders, this time for the Bitcoin network. As is apparent in the graph on the right, the Bitcoin whales saw their supply go up during January and February, but since then, their 30-day supply change has dropped off to neutral levels. At the same time, the smaller dolphin group (displayed on the left) has also been pulling back on its accumulation. “Historically, when both cohorts stall simultaneously, sustained price weakness tends to follow,” explained CryptoQuant. ETH Price Following a drop of more than 6% over the past week, Ethereum has found itself back under the $2,000 level for the first time since late-March. Featured image from Dall-E, chart from TradingView.com

As the crypto market matures, the relative strength between Ethereum and Bitcoin is becoming one of the most discussed narratives. The ETH ecosystem is entering a new phase of growth, fueled by scaling solutions, rising staking participation, and a more efficient supply structure. These improvements are steadily reinforcing the ETH fundamentals and long-term utility within decentralized finance and beyond. Ethereum, Bitcoin Recovery Depends On Adoption And Market Rotation The debate around whether Ethereum can reclaim its 2021 highs against Bitcoin is gaining renewed momentum as institutional voices turn increasingly optimistic. Crypto analyst Walter Bloomberg revealed on X that Geoff Kendrick of Standard Chartered remains strongly bullish on ETH despite its prolonged underperformance against BTC. Related Reading: Ethereum’s Price Pulls Back Close To $1,900, But Large Holders Remain Unfazed Geoff Kendrick argues that the current disconnection between ETH’s strong fundamentals and its weak price performance is only temporary. Meanwhile, ETH has experienced a significant drawdown to $2,100, a 57% since August 2025, with the ETH/BTC ratio declining by 37%. However, the on-chain transaction levels and total value locked (TVL) across the ecosystem have reportedly remained near all-time highs. Standard Chartered reportedly compares the current ETH situation to a major technology company, Amazon, during the 2021 dot-com crash, suggesting ETH could bounce back. The bank maintains aggressive long-term targets, projecting Ethereum to reach $4,000 by 2026 and potentially reaching $40,000 by 2030.  A move of that scale would also push the ETH/BTC ratio back toward its 2021 peak. The bullish thesis is largely driven by ETH’s dominant 50-65% position in stablecoins and tokenized real-world assets (RWAs), with both sectors expected to experience massive growth. Macro Technical Levels Continue To Shape ETH/BTC Direction A partner with sizeprop known as Scient on X has mentioned that the broader Ethereum and Bitcoin macro prediction has now completed a textbook pattern, closely following the plan mapped out at the February lows. After a sustained 3-month rally, the price delivered a clean bearish retest of the daily market structure shift (MSS) and breaker zone, before rotating lower to sweep liquidity at the February range lows and fill the fair value gap. This move represents a textbook technical execution of the thesis. Related Reading: This 1 Chart Explains Why Bitcoin Is Winning And Ethereum Is Losing Right Now Currently, with price tapping into the critical 0.75 Fibonacci zone, the weekly timeframe is beginning to show early signs of a potential bounce. If ETH/BTC is going to establish a meaningful bottom, this would be the area where it will happen. On the lower timeframes, the 12-hour chart reveals an important development. The price has been holding its lows quietly for over a week, with the Relative Strength Index (RSI) printing bullish divergence, often a signal of classic accumulation at a key level. Scient noted that the confirmation of a sustained move higher is still pending, and the current setup places ETH/BTC at a decisive moment. Either way, the coming days are likely pivotal for determining the next major direction. Featured image from iStock, chart from Tradingview.com

Crypto analyst The Short Bear has addressed investors who are currently capitulating on Ethereum and offloading their coins. He cited a mistake these investors are currently making that could cost them money when the bull thesis for ETH eventually plays out.  Analyst Reveals Misconception Investors Have About Ethereum In an X post, the Short Bear said that many people are mistaken in treating Ethereum like an end-stage Amazon as if the main question is already about mature margins, fees, and cash flows. He explained that, in reality, the layer-1 network is still very much earlier in its economies-of-scale phase, with nearly all metrics in the top-right corner and growing at mid-double-digit to triple-digit rates.  Related Reading: Can Ethereum Stage The Biggest Comeback In History? Why Price Could Double The analyst further stated that most of the market is focused on the wrong battle, of which network can become the fastest and cheapest payment processor. However, he opined that the real value may not be in the transaction fee itself. Instead, the Short Bear believes that the real value lies in the amount of economic activity secured by the network, the credibility of that security, the neutrality of the base layer, and the difficulty of replacing such a network once it gains widespread adoption.  The Short Bear remarked that this is where Ethereum seems different to him and why many institutions are choosing ETH. He noted that most other networks still feel replaceable and that if their advantage is mainly technical efficiency, it can eventually be copied or rendered irrelevant. However, the analyst believes that Ethereum stands out because the network is looking to become the most secure, decentralized, credibly neutral settlement layer for the internet economy.  In line with this, the analyst declared that the most valuable network may not be the one with the lowest transaction costs. Instead, it may be the one people trust most to secure the highest-value assets and applications over the longest period.  How ETH Could Become One Of The Only Neutral and Secure Bonds The Short Bear noted that 1/3 of the total Ethereum supply is now staked and that, in this scenario, ETH would not be just another asset to hold. Instead, it could become one of the only truly neutral and secure bonds for the digital economy. The analyst painted a scenario where ETH retains its market share while continuing to scale through upgrades that improve speed, throughput, and fees. He remarked that the potential remains significant, especially if AI agents truly become crypto-natives.  Related Reading: Analyst Highlights Ethereum ‘Kill Zone’ That Shows The Best Time To Buy The analyst added that if Ethereum earns the crown as the leading value-secured network, then ETH could eventually be viewed as a truly decentralized, inflation-adjusting global bond. Under this scenario, he noted that ETH will be deserving of a premium market cap because of the value it provides in protecting assets, in addition to the incentives to stake and earn yields. Featured image from iStock, chart from Tradingview.com

Ethereum remains under heavy pressure after slipping below a major support level, reinforcing the growing bearish outlook across the market. With fear-driven sentiment increasing and sellers maintaining control, the $1,930 level has now emerged as the most critical support zone for bulls to defend to prevent a deeper decline.  ETH Structure Turns Bearish Below Key Support According to a recent analysis shared by Mira Agent, ETH was trading around the $2,055 to $2,080 range at the time of the post, with the broader market structure continuing to show signs of weakness. Ethereum’s current setup is becoming increasingly important as bearish momentum gradually strengthens across higher timeframes. Related Reading: Ethereum Recent Bearish Breakdown Signals Growing Advantage For Sellers Mira Agent explained that the 4-hour chart remains bearish after ETH lost the key $2,050 support zone. Adding to the negative outlook, the 200-day moving average has maintained a downward slope since May 21. Lower highs continue to form on the chart, while selling pressure keeps building as market sentiment remains fragile, with the Fear & Greed Index currently sitting at an extreme fear reading of 25.  Meanwhile, Mira’s AI confidence metric shows only 32% bullish probability at the moment. Key resistance levels to monitor are positioned at $2,050, $2,150, and $2,230, while major support zones are located at $1,930, $1,880, and $1,780. Mira outlined three possible scenarios for Ethereum moving forward. The dominant outlook remains bearish continuation in the near term with a 60% probability. A consolidation phase between $2,040 and $2,090 carries a 25% probability, while the bullish reversal scenario remains the least likely at 15%, requiring a decisive weekly close above the $2,180 level to confirm renewed strength. Institutional Demand For Ethereum Continues To Strengthen Stating what to look forward to, Mira Agent revealed that institutional tailwinds are quietly building, despite current market sentiment. Notably, BitMine has executed its largest Ethereum acquisition of 2026, signaling robust interest from major players. Furthermore, SharpLink is slated to enter the Russell indexes, a milestone that will trigger significant forced passive buying, adding a layer of structural support. Related Reading: Ethereum Price Struggles Near Key Levels As Market Sentiment Weakens Beneath the surface of market volatility, Ethereum’s fundamental health remains remarkably resilient. A key indicator of this stability is the shift in revenue streams for Ethereum treasury firms, where staking rewards now account for 60% of total income. This trend highlights a transition toward sustainable, yield-driven growth, proving that while the price has experienced a sharp contraction, the network’s underlying economic value has not broken. Bottom line: this is a moment for patience, not panic. It is crucial to watch the $1,930 level closely, as it represents the definitive line in the sand for the current cycle. As long as the market can hold this support threshold, the broader bullish case remains alive. Featured image from iStock, chart from Tradingview.com

Ethereum (ETH) has followed Bitcoin (BTC) and much of the wider crypto market lower over the past 48 hours, dropping below the key $2,000 support level and reigniting concerns among some investors that a longer bear phase could be underway.  Even with the recent slide, Standard Chartered’s Digital Assets Research Head, Geoff Kendrick, says the bank is not backing away from its bullish long-term outlook for Ethereum. Ethereum Price Will Catch Up In a note to investors on Thursday, Kendrick reaffirmed Standard Chartered’s core projection for Ethereum’s performance over the next four years, including its end-2030 target of $40,000 for ETH.  He linked the current weakness to something investors may eventually look back on as a confusing, even misleading, signal. Rather than treating the price drop as proof that the network is weakening, Kendrick argued that Ethereum’s usage metrics are continuing to improve even as the token’s market value loses ground. Related Reading: Hyperliquid (HYPE) In The Spotlight: Grayscale’s Latest Report Says What Comes Next To illustrate the gap between price action and underlying progress, Kendrick drew a comparison to Amazon during the 2001 dot-com bust. His argument echoes a line often attributed to Jeff Bezos: that while a company’s stock can go the wrong way, “everything inside the company” can still be moving in the right direction.  Kendrick specifically said that Ethereum will “catch up” to those improving internal metrics and suggested that investors are effectively watching a delay between operational strength and market pricing.  ETH Upside Signals Standard Chartered’s view leans heavily on measurable indicators that Kendrick says support Ethereum’s position in key parts of the crypto economy.  One of the bank’s central points is Ethereum’s role in stablecoins. Kendrick noted that 54% of all stablecoins are currently issued on the network. He also said stablecoins make up around one-third of all Ethereum transactions in 2026 year-to-date.  Based on that momentum, Standard Chartered projects the stablecoin market cap could increase sixfold from current levels by the end of 2028. Related Reading: Perfect Crypto Week In Texas: 6 Candidates Backed, 0 Misses—What To Track Next A second major pillar of the bullish case is Ethereum’s position in tokenized real-world assets (RWAs). Kendrick said Ethereum hosts around 62% of RWAs and about 68% of active on-chain loans.  He projected that the non-stablecoin RWA sector could grow about 50 times to reach $2 trillion by the end of 2028. For Standard Chartered, tokenized RWAs are likely to expand in a way that brings Ethereum a significant share of the activity.  Kendrick’s projections suggest Ethereum could still capture roughly half to two-thirds of both tokenized assets and the related category of growth, with Ethereum hosting an estimated 50% to 65% of those segments. Kendrick’s analysis keeps the forecast unchanged: ETH at $4,000 by the end of 2026 and then $40,000 by the end of 2030. In the same reaffirmation, Standard Chartered lays out an extended path through the intervening years, projecting $10,000 by end-2027, $18,000 by end-2028, and ultimately $40,000 by end-2030. At the time of writing, ETH was trading at $1,991, having retraced by 5% in the weekly timeframe. This means that the altcoin is now trading 59% below its all-time high of $4,964, reached last year.  Featured image created with OpenArt; chart from TradingView.com

Bankless co-founder David Hoffman said he sold his ETH after concluding that the “ETH is money” thesis has largely played out, marking a notable shift from one of Ethereum’s most visible public advocates. Hoffman said he remains “massively bullish” on Ethereum as a network, but no longer sees a clear path for ETH, the asset, to receive a structural rerating from here. “For someone who built a career, community, identity, and business around Ethereum, this choice does not come lightly,” Hoffman wrote. “The ETH is Money thesis didn’t fail… it played out. Ethereum got the ETH price it deserves, and I don’t see ETH being rerated as an asset, higher or lower.” The argument is not that Ethereum has failed. Hoffman’s thesis is more uncomfortable for ETH holders: Ethereum may continue to succeed as infrastructure while only a marginal share of that success accrues to ETH itself. In his framing, the network has become one of crypto’s most important open-source systems, but its design choices increasingly favor applications, rollups and external monetary assets over ETH’s own monetary premium. Hoffman Says Ethereum’s Monetary Window Is Closing Hoffman described Ethereum as a vast coordination game, where the “ETH is money” thesis required multiple layers of the ecosystem to align at once. Ethereum needed decentralized leadership, responsive governance, fast technical execution, coherent L2 incentives, and enough market dominance to make ETH the natural monetary Schelling point of the ecosystem. Related Reading: Ethereum Staking Record Meets On-Chain Collapse: Analyst Explains What’s Holding ETH Price That, he argued, was always a narrow path. “Money is a coordination game, and coordination is hard,” Hoffman wrote. “The Ethereum project itself is a stacked set of coordination challenges across multiple layers, and the ‘ETH is money’ thesis required all of them to succeed, and succeed with confidence.” In Hoffman’s view, Ethereum made the harder architectural choice compared with Bitcoin. Bitcoin stripped its base layer down to elevate BTC’s monetary role. Ethereum added programmability and sought to maximize blockspace utility. That approach created enormous surface area for adoption, but also made ETH’s monetary status dependent on Ethereum winning across technology, culture, governance and market structure at the same time. Hoffman said Ethereum achieved “some of the way there,” but not the maximal version of the thesis many ETH bulls once expected. Fees, L2s And The Asset-Capture Problem A central part of Hoffman’s argument is that smart-contract L1 tokens remain tied to activity, fees and revenue. He pointed to ETH’s dominance in 2021, Solana’s resurgence in 2024, NEAR’s 2026 rerating alongside revenue and burn growth, and long-running fee generators such as BNB and TRX as examples of the market rewarding chains that retain or expand direct revenue capture. Ethereum, by contrast, has deliberately moved toward a structure where value leaks outward. Rollups scale execution, applications capture more of the user-facing margin, and Ethereum provides secure settlement at low cost. Hoffman described this as a feature of Ethereum’s ideology and architecture, but a challenge for ETH as an asset. “At its heart, Ethereum is a giver, not a taker,” he wrote. “It supplies L2s with the world’s most secure blockspace, at cost. It tokenizes the assets of the entire world, at cost.” Related Reading: Ethereum (ETH) Next Rally Could Start With These Two Triggers, Top Analyst Says That framing sits at the core of his decision. Ethereum may be “noble,” “good,” and “the world’s most successful non-profit,” Hoffman argued, but that does not automatically make ETH a better investment from this point forward. He said the rollup-centric roadmap means L2s can take “97% margins,” while the fat-app thesis leaves more economics with applications rather than the base asset. Stablecoins And The ‘Strong Crypto’ Problem Hoffman also argued that Ethereum’s utility may increasingly strengthen other forms of money. He noted that Ethereum hosted $3 billion in stablecoins in 2020 and $163 billion today, a 54x increase. The network’s success as settlement infrastructure, in that sense, has helped expand tokenized dollars, not necessarily ETH’s role as money. He also questioned whether the “strong version” of crypto (DeFi, NFTs, DAOs and an alternative financial system built for its own sake) ever became a stable enough cultural or economic equilibrium. The moment when ETH functioned most convincingly as internet money, he argued, coincided with the COVID-era surge in online activity, risk appetite and public fascination with crypto. “ETH excelled as internet money at the exact moment everyone was forced onto the internet,” Hoffman wrote. “The world discovered cryptocurrency for the first time, and for that brief window, it was cool.” The implication is that ETH’s monetary premium may have depended on a broader crypto-native boom that did not hold. Ethereum kept building, but the public narrative around crypto shifted back toward scams, grifts and speculation, weakening the social foundation needed for ETH to become a dominant store-of-value asset. Hoffman closed by stressing that he is not bearish on Ethereum itself. His decision, he said, reflects a capital allocation call after the “ETH is money” thesis reached a mature outcome. At press time, ETH traded at $2,080. Featured image created with DALL.E, chart from TradingView.com

Bitmine has made its largest Ethereum (ETH) buy of the year during the recent market dip, reaffirming the firm’s bullish outlook on the leading altcoin and continued accumulation strategy. Related Reading: Bitcoin At A Crossroads: Two Key Levels Will Define BTC’s Next Major Move, Analyst Says Bitmine Ramps Up Ethereum Purchases On Tuesday, Bitmine Immersion Technologies, the world’s largest Ethereum treasury, announced its largest purchase since December 2025, having acquired roughly $238 million in ETH over the past week. In its latest update, the company shared it purchased 111,942 ETH during the recent market pullback, which sent the King of Altcoins below $2,200. Bitmine’s Chairman, Tom Lee, affirmed that last week’s correction represented “an attractive opportunity” to increase the company’s holdings. “We continue to expect a supercycle ahead for crypto and Ethereum, driven by the dual drivers of Wall Street tokenization and agentic-AI. And thus, we continue to steadily acquire ETH, with Bitmine now owning nearly 5.4 million ETH tokens,” stated Lee. Now, the company’s crypto and cash holdings have reached $12.3 billion at current prices, comprised of 5,390,404 ETH at $2,134 per token, 203 Bitcoin (BTC), a $200 million stake in Beast Industries, an $95 million stake in Eightco Holdings as part of its “Moonshots” initiative, and total cash worth $444 million. The latest buy has pushed BitMine’s Ethereum holdings closer to its goal of controlling 5% of ETH’s 120.7 million supply, reaching 4.47% of the supply, 89% of its goal, in just 11 months. As a result, “Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026,” the chairman affirmed. In addition, the company revealed that 4,712,917 ETH of its holdings, worth about $10.1 billion, have been staked. Lee also shared that, “At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $276 million annually (using 2.75% 7-day BMNR yield).” Analysts Eye $1,850 Support Recently, Lee suggested that Ethereum could rally toward new highs by the end of the year, based on his belief that the “crypto winter is over” and a recovery rally could take place over the coming months. However, some market observers have warned that a long-term bullish rally is not likely this year. In an X post, analyst Ali Martinez highlighted that ETH has been trading within a broad, multi-year range since 2021. After falling back to the channel’s lower half earlier this year, the altcoin recently faced a “clean rejection at the mid-range of this structure,” which coincided with a rejection from the 200-week Simple Moving Average (SMA), signaling weakness. Related Reading: XRP, ETH, SOL, LINK Look Cheap—The Catalysts That Could Drive The Next Leg Up As the price fails to reclaim this area, the analyst noted that the most critical level to hold remains $1,850, explaining that a weekly close below this support would likely trigger downside acceleration. He suggested that this could open a great opportunity for investors, based on the MVRV Pricing Band: Right now, the highly watched 0.8 MVRV Pricing Band is sitting right around $1,850. Historically, whenever Ethereum drops below the 0.8 MVRV band, the move is not sustained for very long. (…) History shows that this exact zone represents a high-probability macro accumulation window that builds the ultimate foundation for the next major bull market. Lastly, he affirmed that to invalidate the bearish scenario, ETH would need two clear triggers: a reclaim of the 200-week SMA, located around $2,500, and a clean break above the 50-week SMA around $3,100. Featured Image from Unsplash.com, Chart from TradingView.com

Ethereum has lost the $2,100 level as selling pressure overwhelms a recovery that has been struggling to find structural support since the mid-May highs. The decline is uncomfortable — but a CryptoOnchain analysis has identified a contradiction in the network data that makes the current price weakness considerably more complex than a straightforward bearish reading suggests. Related Reading: The Institutional Bitcoin Exit Is Real: Analyst Exposes Who’s On The Wrong Side Of The Trade The contradiction sits between two data points that should not be moving in the same direction simultaneously. The ETH 2.0 Staking Rate has reached a new all-time high of 32.18% — the highest proportion of Ethereum’s total supply ever committed to the network’s validator infrastructure. More ETH is locked in long-term staking contracts than at any previous point in the asset’s history, reflecting a cohort of holders whose conviction about Ethereum’s long-term value has never been stronger or more structurally expressed. Against that record commitment, the network’s organic activity tells the opposite story. Median token transfer size and transaction fees have collapsed by 80% to 90% compared to the 90-day baseline. The day-to-day utility that drives genuine demand for block space — the transactions, the DeFi activity, the NFT volume, the protocol interactions — has nearly evaporated. CryptoOnchain describes the current state of the Ethereum blockchain as an on-chain ghost town. Record conviction on one side. Near-zero organic activity on the other. Both present simultaneously, in the same network, at the same price. The analysis examines what is holding the structure together — and the answer is the most alarming element of what the data reveals. Record Staking And Empty Network The CryptoOnchain analysis arrives at the question that the contradiction demands: if organic network activity has collapsed and US institutional spot demand has disappeared, what is keeping Ethereum’s price from reflecting those twin absences more severely? The Coinbase Premium has dropped to -0.12 — confirming that American institutional spot buyers, who drove the most significant phases of Ethereum’s previous recoveries, have stepped back from active accumulation. The on-chain activity metrics confirm that retail and protocol users are similarly absent. The two categories of participants whose genuine demand has historically supported Ethereum price levels are both missing simultaneously. The Phantom Network: Binance Leverage vs. On-Chain Ghost Town The answer the analysis provides is offshore derivatives. Binance Funding Rates have surged 688% above the 90-day baseline, maintaining positive territory at +0.01. Speculative leveraged positioning on the world’s largest derivatives exchange is the force currently sustaining Ethereum’s price in the absence of the spot demand and network utility that would normally provide that foundation. The structural assessment that follows is direct. Peak staking creates a genuine supply floor — 32.18% of total ETH locked in validators represents a meaningful reduction in immediately available sell-side supply that limits downside in a structural sense. But a price sustained by derivatives leverage rather than spot demand or network utility is a price resting on a foundation that can disappear instantly. Leverage flushes do not arrive gradually. When funding rates at 688% above baseline encounter a catalyst that forces deleveraging, the adjustment happens in hours rather than days — and the supply floor provided by staking cannot absorb the speed of that kind of unwind. Related Reading: HYPE Rally Accelerates Above $60 As High-Profile Whale Quietly Builds His Position Ethereum Bulls Defend The $2,100 Region Ethereum continues trading near the critical $2,100 level after weeks of sustained selling pressure erased the recovery structure that briefly pushed price toward the $2,400 resistance zone earlier this month. The daily chart shows ETH trapped beneath the major resistance region between $2,280 and $2,380, an area that repeatedly rejected bullish momentum throughout May and prevented buyers from establishing a higher-high structure. Technically, Ethereum remains below the 200-day moving average, which continues trending downward and reinforcing the broader bearish market structure. The rejection from the resistance zone also forced ETH back below the shorter-term moving averages, signaling weakening momentum as sellers regained control during the latest retracement phase. Related Reading: FET Exchange Supply Is Quietly Disappearing – Discover Why Traders Are Watching Closely Despite the weakness, bulls are still defending the $2,050–$2,100 support region aggressively. Price briefly dipped below this area but quickly recovered, suggesting demand remains active near local lows. This zone is becoming increasingly important because a decisive breakdown would likely expose Ethereum to a deeper move toward the broader demand region around $1,800–$1,900 highlighted on the chart. Volume has gradually declined during the recent consolidation, reflecting market indecision rather than panic selling. For bulls to regain momentum, Ethereum likely needs to reclaim the $2,200 level first and then break decisively above the $2,300–$2,400 resistance cluster that has capped every recovery attempt since April. Featured image from ChatGPT, chart from TradingView.com 

Over the past fourteen days, Ethereum (ETH) has retraced by roughly 9%, and it is now probing the key psychological $2,000 support. Amid this weakening phase, technical analyst Ali Martinez pointed to what he described as “two triggers” that could potentially help ETH turn bullish again. What Happens Next For Ethereum In a recent social media post on X (formerly Twitter), Martinez noted that Ethereum has largely been confined to a broad, multi-year trading range since 2021. In his view, recent price action offered a telling confirmation of that structure.  The market experienced what he called a clean rejection at the midpoint of that range, which coincided with the 200-week Simple Moving Average (SMA) at around $2,300. Because ETH failed to reclaim that level, Martinez said the chart has continued to display weakness rather than recovery. Related Reading: Ethereum Price Roadmap For The Rest Of 2026: Bull, Base, And Bear Scenarios Unpacked Looking at the levels that matter most right now, Martinez singled out $1,850 as the critical point on the weekly chart. He warned that if Ethereum records a weekly close below that level, downside momentum could build quickly.  From there, he argued that the broader channel structure suggests two larger downside targets after the rejection—first an interim support area around $1,560, and then a move toward approximately $1,070.  Two ‘Triggers’ To Turn Bullish In addition to the Simple Moving Average indicator and structural levels, Ali Martinez also highlighted the 0.8 Market Value to Realized Value (MVRV) pricing band, a metric traders use to gauge valuation and help identify potential accumulation zones.  According to his analysis, this widely watched band is currently sitting near $1,850, just 10% below the zone that Ethereum is now testing. Historically, when ETH moves below the 0.8 MVRV band, the decline has not typically been sustained for long.  The analyst also said this key price zone often functions as a “high-probability macro accumulation window”—one that can help form the underlying base for the next bull market. Even so, Ali Martinez made it clear that a full bearish thesis would need to be invalidated before the bullish case can re-emerge.  Related Reading: XRP, ETH, SOL, LINK Look Cheap—The Catalysts That Could Drive The Next Leg Up For the downside scenario to be effectively negated and Ethereum to flip back toward a bullish direction, he said two specific “triggers” must occur in the short-term for the cryptocurrency.  The first is ETH reclaiming the 200-week SMA, which currently sits at around $2,500. The second trigger would follow only after that: a clean break above the 50-week SMA, which Martinez placed around $3,100. Featured image created with OpenArt; chart from TradingView.com 

Ethereum is losing ground inside one of America’s largest banking portfolios as Bank of America sharply pivots toward Bitcoin-linked investment products. Fresh SEC filings from the banking giant reveal a noticeable reshuffling of its crypto exposure during the first quarter, with Ethereum and Solana positions reduced while Bitcoin allocations expanded aggressively through spot ETFs and indirect treasury exposure. Ethereum Retreats, Bitcoin Expands The latest 13F filing from Bank of America paints a clear picture of where institutional conviction is shifting. While the bank still maintains exposure across several crypto-related products, recent reports indicate that Bitcoin now dominates its digital asset strategy by a wide margin. Related Reading: Bitcoin Upper Trendline Resistance Is Holding Price Back, Can It Push It Below $60,000? Analyst Answers At the center of that move is BlackRock’s iShares Bitcoin Trust (IBIT), which became the bank’s largest crypto holding after a substantial increase during the quarter. Regulatory documents show Bank of America lifted its IBIT exposure to roughly $37 million, making the ETF responsible for nearly 70% of the bank’s crypto investment portfolio while holding 972,590 shares of the fund. At the same time, exposure tied to Ethereum products moved in the opposite direction. The filing reflected a reduction in Ethereum-linked allocations alongside cuts to Solana-related investment products. Smaller holdings connected to XRP and Solana ETFs also appeared in the disclosure, though the bank’s allocation toward those products remained comparatively limited. Rather than spreading capital evenly across the digital asset market, the portfolio changes suggest Bank of America is concentrating on Bitcoin as the preferred institutional-grade crypto asset.  Moreover, the bank also maintained positions in Fidelity’s FBTC, Bitwise’s BITB, and several Grayscale Bitcoin products. However, none came close to the scale of the IBIT allocation, reinforcing Bitcoin’s growing dominance within the institution’s crypto strategy. Wall Street’s New Favorite Trade Bank of America’s repositioning did not happen in isolation. Across Wall Street, major financial firms are quietly increasing Bitcoin exposure even as broader crypto markets remain volatile. The filing also revealed that Bank of America owns nearly 3.96 million shares of MicroStrategy, a position valued at roughly $660 million. Because the software company continues accumulating Bitcoin as its primary treasury reserve asset, the investment gives the bank another layer of indirect Bitcoin exposure beyond ETFs alone. Related Reading: The Last Time Bitcoin Printed This Ugly Candle, It Tanked; Now It Has Returned Other financial giants are moving in a similar direction. Morgan Stanley reportedly holds one of the largest spot crypto ETF portfolios among traditional banks, with more than $1 billion tied to regulated digital asset products. Goldman Sachs has also maintained sizable positions in BlackRock’s IBIT alongside Fidelity’s FBTC fund, while JPMorgan expanded its crypto-related exposure during the quarter despite CEO Jamie Dimon’s well-known skepticism toward Bitcoin.  Together, these portfolio moves point to a broader shift taking shape across traditional finance, where regulated Bitcoin investment vehicles are drawing deeper interest from banks, asset managers, and hedge funds. Bank of America’s latest filing ultimately fits squarely within that pattern, underscoring how Bitcoin is increasingly becoming the centerpiece of Wall Street’s crypto playbook. Featured image created with Dall.E, chart from Tradingview.com

Ethereum (ETH) has been under heavy selling pressure in recent weeks, leaving many retail investors uncertain about when to enter the market. However, Lingrid, a TradingView crypto expert, has stepped in, pinpointing an area she calls a “Kill Zone,” which reveals the most ideal entry point for traders looking to buy ETH at the best possible price before the next major move higher. Analyst Flags Ethereum Kill Zone As Prime Buy Area  On May 20, Lingrid shared a new TradingView analysis of the Ethereum price, outlining what she believes is the ideal buy zone for investors and traders looking to accumulate during the current market dip. Related Reading: New Bitcoin Lows? Analysts Say Chances Are ‘Extremely Slim’ According to the expert, ETH recently broke down sharply from a “primary shaded wedge pattern,” highlighted on her accompanying chart. She noted that the breakdown had triggered a massive leverage flush, pushing ETH’s price down to $2,070. She added that the move has done its job by clearing out overleveraged positions and paving the way for ETH to potentially stage a fresh recovery. Lingrid further pointed out that Ethereum’s price has held firm right above a long-term rising macro support line, which she sees as confirmation that a structural bottom is in place. Based on this, her recovery roadmap for ETH, indicated by the purple arrow on the chart, targets a clean reclaim of the broken structure, reaching $2,300. Notably, Lingrid has warned of a potential trap ahead for traders who short this breakdown. She said that retail investors are already panic-selling the recent broken wedge boundary without noticing the major macro rising trendline sitting just below it.  She also observed that institutional investors are quietly using ETH’s $2,100 liquidity zone to accumulate spot Ethereum ETFs at a significantly lower price, preparing to trap late short sellers once prices move back up. For traders looking to enter the market, Lingrid places her ideal Ethereum buy zone between $2,100 and $2,135. She described this accumulation area as the cryptocurrency’s “Kill Zone” and set a stop-loss at $2,040 for those managing risk in the trade. ETH Eyes $2,300 Rapid Push As Institutions Accumulate  In her analysis, Lingrid noted that her primary price target for Ethereum is a potential move toward $2,300, which aligns with the upper internal trendline on her chart. She believes ETH’s momentum and setup are strong enough to push its price to that level in a relatively short period. On the more technical side, Lingrid noted that as of Wednesday, May 20, 2026, Ethereum mainnet gas fees had dropped to a 12-month low of 3 gwei, following a successful optimization patch tied to the Pectra upgrade. She argued that this development adds a fundamental layer of support to her bullish outlook. Lingrid also noted that the broader digital asset market came under pressure earlier this week following structural adjustments by the Federal Reserve under newly appointed Fed Chair Kevin Warsh. Despite this, the analyst highlighted that Ethereum’s on-chain data show institutional staking inflows have quietly risen over the last 24 hours. Related Reading: Bitcoin Treasury Company Nakamoto Takes Action To Prevent Stock Slide She concluded that the engineered sell-off designed to flush out retail positions and allow institutions to accumulate ETH at lower prices is now complete. With that phase out of the way, Lingrid believes the Ethereum price is finally preparing for a rapid push back toward $2,300. Featured image from CFI, chart from TradingView

A crypto founder and pundit recently took to the social media platform X to highlight a notable divergence between the Ethereum and Bitcoin markets. According to the analyst, the world’s leading cryptocurrencies could be nearing levels that would soon reverse their current price trajectories. Bitcoin In High-Pressure Environment As Ethereum Market Leans Neutral In a May 22nd post on the X platform, Alphractal founder and CEO Joao Wedson revealed that the Bitcoin market is currently in a state where its return efficiency is weakening relative to short-term risks. This observation is based on the negative readings on Bitcoin’s annualized Sharpe Ratio. For context, the Sharpe ratio measures how much extra return an asset (in this case, Bitcoin) generates relative to the additional risk it entails. Higher readings typically suggest stronger risk-adjusted performance, while a negative reading indicates that investors are transacting without worthwhile rewards on the table. Related Reading: Bitcoin Price Consolidates Near Lows As Market Searches For Direction Wedson noted that, while Bitcoin’s Sharpe ratio is within negative bounds, Ethereum’s stands quite close to the zero mark — a sign that the market is on almost neutral grounds sentiment-wise. In this scenario, Ethereum is neither offering strong risk-adjusted returns nor signaling extreme deterioration. Current Conditions Similar To Historical Price Bottom Precedents: Analyst While present conditions within the Bitcoin and Ethereum markets are essentially short-term, Wedson highlighted what their simultaneous prolongation would signal. According to the market pundit, extended stretches below zero have frequently coincided with several of Bitcoin’s weakest periods in terms of return-versus-risk. However, these phases have historically emerged near price bottoms. This is often where bearish sentiment, panic selling, and investor exhaustion become widespread, setting the path for new bullish pressure to eventually overcome the bears.  Nonetheless, the Alphractal founder mentioned as a caveat that the current conditions do not confirm that a bottom will be established. Instead, it merely highlights that the cryptocurrency market might soon enter zones typically associated with elevated pessimism, low reward potential, and risk stress. It is this type of highly pessimistic environment that often develops before major trend reversals play out. Until clear confirmations have thus been identified, investors and other market participants are advised to act with caution.  As of this writing, Bitcoin is valued at approximately $75,642, down by 2.5% in the past 24 hours. Meanwhile, the price of ETH stands at around $2,060, reflecting an over 3.2% in the past day. Related Reading: Solana Vs Ethereum: What’s Holding Growth Back? 3 Reasons SOL Is Still Lagging Featured image from iStock, chart from TradingView

A crypto expert has shared her macro prediction for Ethereum (ETH), warning of an imminent price crash that could see the second-largest cryptocurrency plummet to as low as $800, or even $400 per coin. While this would represent a massive bearish move given ETH’s current price, the analyst argues that such a decline is important for a market reset, where prices rediscover real demand and sustainable support.  Analyst Says Ethereum Crash Is Critical For A Market Reset Rafaela Rigo, a crypto market analyst, has presented a compelling Ethereum price analysis on X that has caught the attention of traders and investors alike. Rigo shared a chart analysis from 2024 in which she accurately predicted that the Ethereum price would plummet to $1,900 after the cryptocurrency had formed a bull run top in that same cycle. That same analysis had also forecasted  a price drop to $800, a level the analyst identified as a “great buying opportunity.” Related Reading: Here’s How High The Ethereum Price Would Be if It Matches The Market Cap Of Gold Notably, Rigo has now updated that 2024 chart analysis to predict Ethereum’s next move this cycle. She has boldly forecasted that ETH’s price could crash to $800 during the ongoing bear market. With the cryptocurrency currently trading above $2,100, a decline to that level would represent a staggering loss of more than 61%.  Taking an even more bearish stance, Rigo stated that an extended price drop to $400 was still on the table for Ethereum, especially if the cryptocurrency is unable to contain its bearish momentum. If ETH falls to this level, it would mark a historic low, pushing the second-largest cryptocurrency back to levels not seen since 2019.  Rigo noted in her analysis that she had previously described the 2024 cycle as a catabolic one, and expects the current cycle to be the same. She added that while $800 would be a painful downward slide, it was necessary for a proper market reset. The analyst emphasized that the crypto market desperately needs this reset to weed out the bad projects flooding into the space and growing daily. She also noted that many of these new crypto projects are pump-and-dump schemes that have weighed on sentiment and caused a significant number of investors to exit the market.  Notably, Rigo described her forecast as a “macro price prediction,” clarifying that it would still take time for everything to unfold as anticipated. In the meantime, she urges investors and traders to remain vigilant, monitor market movements carefully, and avoid emotional trading. Analyst Predicts Ugly Price Crash For ETH Soon Market expert Ted Pillows has also shared a new Ethereum price analysis, expressing caution over the cryptocurrency’s recent price action and a Bear Flag formation. Pillows warned that this Bear Flag could have very dire consequences for ETH’s price.  Related Reading: Analyst Predicts Bitcoin And Ethereum Price For The Rest Of 2026, What To Expect At the time of writing, the cryptocurrency is sitting above $2,100 following weeks of bearish pressure and volatility. Despite this resilience, Pillows cautioned that if ETH fails to hold above $2,100, “things could get ugly.” He has predicted a potential price crash down toward $1,960, representing a major decline of more than 6% from current levels.  Featured image from Pngtree, chart from Tradingview.com

A crypto analyst has shared a new report from Etherealize, a leading crypto research firm, which projects how high the Ethereum price could reach if its market capitalization were to match that of gold. The expert believes that, beyond price action, the Ethereum network could also evolve into a global settlement layer, further solidifying its position in the crypto space. Taken together, these developments paint a strong bullish outlook for the cryptocurrency, even amid the recent volatility and price declines that have weighed on the market. Digital Oil, a pseudonymous analyst and investor, is making a bold long-term case, arguing that the Ethereum network and its native asset, ETH, are positioned to capture two of the world’s largest markets. As the second-largest cryptocurrency by market cap and the backbone of decentralized finance, the analyst said that Ethereum holds an infinite range of possibilities.   The Ethereum Price Target At Gold’s Market Cap He referenced an analysis report by Etherealize, which describes ETH as a productive store of value that surpasses gold, while Ethereum itself is seen as the settlement layer for the future of global finance. This suggests that the blockchain network could be at the center of how money flows in the world in the future.  Related Reading: Ethereum Price Reaching $4,000 Isn’t A Moonshot, Here’s What It Is The report, titled The Bull Case for Ethereum: Digital Oil, Store of Value, and Global Reserve Asset for the Digital Economy, was produced by Etherealize to help institutional investors better understand ETH’s role in the evolving digital economy. Based on the analysis, Etherealize projects a long-term price target of $250,000 for ETH, representing a more than 11,400% surge from current levels. That figure could put the cryptocurrency’s market cap, which currently sits at $256.78 billion, on par with gold’s market valuation of $32 trillion. Notably, Etherealize pointed to 2045 as a rough timeline for this potential milestone. The research firm acknowledged that widespread adoption, which is needed to catalyze this growth, could change that date depending on how quickly or slowly it occurs.  Despite uncertainty about timing, Digital Oil remains firm in Etherealize’s bullish outlook for Ethereum. He said the projected shift is inevitable and could come soon. As a result, the analyst has urged investors and traders to prepare in advance by positioning for the long-term growth of ETH and the Ethereum network.  Analyst Says ETH Could Rally Above $3,000 Focusing more on Ethereum’s short-term price outlook, crypto analyst Ted Pillows has projected on X that the cryptocurrency could rally toward the $2,250 zone, with a possible extension above $3,000 if bullish momentum persists. At the time of writing, ETH is trading above $2,100.  Related Reading: Ethereum Is Not Dead: Why Market Experts Are Still Predicting A Rise Above $10,000 After recording a series of price declines, the analyst suggested that ETH is now attempting to reclaim $2,150 and break through former resistance levels. Pillows cautions that if Ethereum faces another rejection before reaching that resistance area, it could open the door to a steep correction toward $2,000. Such a move would represent a decline of more than 5% from current levels. Featured image from Pexels, chart from Tradingview.com

Ethereum’s recent pullback has added pressure to the market, but the broader technical structure continues to show signs of resilience. Despite the decline, ETH remains above several critical support zones, keeping hopes alive that the long-term bullish trend may still be intact if buyers can maintain control at these key levels. Ethereum Holds Above Critical 2022 Ascending Trendline According to The Boss, Ethereum’s broader market structure may still be holding firm despite the recent wave of selling pressure across the crypto market. Although ETH has experienced a steady decline over the past week, price action continues to remain above a major ascending trend region that has supported the asset since 2022. Related Reading: Ethereum Price Tumbles Hard, Bears Tighten Grip On Market Momentum The analyst noted that holding above this long-term trend zone suggests the bullish market structure has not been fully invalidated. Buyers are defending a critical support area, preventing Ethereum from slipping into a deeper structural breakdown for now. As long as ETH continues trading above the ascending trend region, the highlighted yellow zones are expected to remain important resistance levels. Any recovery attempt would likely need to overcome these barriers before stronger bullish momentum can return. The Boss also pointed out that market fear often intensifies not after a trend is broken, but while key support is still being tested. Current price action reflects growing uncertainty, yet the long-term structure remains technically intact as long as the major support region continues to hold. A Returns to Crucial $2,100 Support-Resistance Zone In his latest analysis, crypto analyst Daan Crypto Trades highlighted that following a period of volatile and messy price action throughout the past month, Ethereum has reached a pivotal juncture. The asset is currently testing a major support and resistance level at $2,100, a zone that has historically dictated market sentiment and remains the primary focus for technical traders. Related Reading: Ethereum Price Flashes Weakness Signals, Pullback Fears Start Rising This specific price point mirrors the importance of the $2,800 level, having served as a highly actionable area for Ethereum over the last several years. Given this track record, market participants are monitoring this zone with heightened attention to determine the next major directional move, as it acts as a critical line in the sand. Should Ethereum successfully bounce back and establish a higher low at this support level, the technical outlook improves significantly. A confirmed reaction here could provide the necessary momentum for a long-term recovery, potentially pushing the price back toward targets at $2,500 and beyond. Conversely, a definitive loss of the $2,100 floor would signal a shift in market control. In this bearish scenario, traders should be prepared for a rapid decline, as failing to hold this support would likely open the door for a retest of levels below the $2,000 mark in the immediate aftermath. Featured image from iStock, chart from Tradingview.com

Ethereum has lost the $2,150 level as selling pressure and market uncertainty combine to erase the recovery that had been building since the February lows. The decline is not gradual — it has the character of a market meeting supply that was positioned and waiting. CryptoOnchain data has identified the origin of that supply, and the picture it reveals is more alarming than a routine price correction. Related Reading: XRP Leverage Expansion Raises Risks Near $1.50 Resistance – A Big Move May Follow In a single day, more than 225,000 ETH was deposited to Binance — the largest net inflow the exchange has recorded in the past six months. The 7-day moving average of exchange netflow has skyrocketed to levels not seen since late 2022, a period that most participants in the Ethereum market remember as one of its most difficult phases. When that specific indicator reaches these levels, it is not describing routine portfolio management. It describes large holders making deliberate, consequential decisions about where their assets should be positioned. The behavioral translation is direct. Investors who keep Ethereum in cold storage — offline, inaccessible, removed from trading — are moving coins onto the world’s largest exchange in volumes that exceed anything the market has absorbed in the past three years. Whether they arrived to sell, to rebalance, or to deploy as collateral for derivatives positions, the act of moving that magnitude of ETH onto Binance is itself a signal that the market cannot ignore. The question CryptoOnchain’s analysis attempts to answer is what those whales are actually planning to do next. 225,000 ETH on an Exchange. Three Possible Reasons. None of Them Are Neutral The CryptoOnchain analysis names the three motivations that could explain a deposit of this scale — and examines what each one means for the market that has to absorb it. The first possibility is profit realization. Large holders who accumulated Ethereum at lower levels and have been sitting on gains may have chosen the current price environment to convert those gains into realized returns. At scale, that behavior creates direct selling pressure that the market must absorb before the price can stabilize. Ethereum Exchange Netflow | Source: CryptoQuant. The second spike is defensive repositioning. Holders concerned about further downside moving coins onto exchanges to enable faster exits are not selling yet — but they are reducing the friction between their position and the sell button. The increasing possibility of selling ETH is on the rise. The third is collateral deployment. Institutional participants moving ETH onto exchanges to back aggressive derivatives positions are not necessarily bearish on the asset — but the leverage they build on top of that collateral creates the fragility that amplifies any adverse move. All three explanations converge on the same market consequence. 225,000 ETH arriving on Binance from cold storage represents supply that was previously unavailable to the market and is now immediately accessible. The CryptoOnchain assessment is direct: major holders are positioning defensively, and the market is entering a period of severe turbulence and highly unpredictable price action as that supply meets whatever demand exists to absorb it. Ethereum losing $2,150 is the early expression of that meeting. Whether it is the full expression depends on which of the three motivations is driving the largest share of the inflow. And that question the coming sessions will begin to answer. Related Reading: Bitcoin Cannot Clear $82K – Analyst Explains How Traders Are Using Every Rally to Exit Ethereum Loses Momentum As Sellers Push Price Back Below Key Averages Ethereum is trading near $2,110 after losing the short-term recovery structure that had supported price throughout most of April and early May. The daily chart shows ETH breaking back below the 100-day moving average while continuing to trade far beneath the 200-day moving average, a signal that the broader trend remains under pressure despite previous rebound attempts. Ethereum consolidates below key Moving Averages | Source: ETHUSD chart on Tradingview After recovering strongly from the February capitulation event near $1,800, Ethereum managed to establish a local range between $2,200 and $2,400. However, repeated failures to reclaim higher resistance levels gradually weakened bullish momentum. The latest rejection near the $2,350 region triggered a new wave of selling pressure that has now pushed ETH back toward the lower end of its multi-week consolidation zone. Related Reading: The 2022 Playbook Says Bitcoin Fails Here. On-Chain Data Says This Cycle Is Different Volume has also started increasing during the recent decline, suggesting that the move lower is being driven by active selling rather than passive lack of demand. This aligns with the recent surge in Binance ETH inflows, which raised concerns about growing exchange-side supply pressure from larger holders. The $2,050-$2,100 region now becomes a critical short-term support area. If Ethereum loses this zone decisively, the market could revisit the broader demand region between $1,900 and $2,000, where buyers previously stepped in aggressively after February’s crash. Featured image from ChatGPT, chart from TradingView.com