Ethereum (ETH) has gradually gained bullish ground over Bitcoin (BTC) in the recent past amid an anticipated crypto constructive breakout. On-chain data analysis shows institutional investors have been increasing their Ether position, with some – led by Bit Digital – ditching Bitcoin to get Ethereum’s exposure.
Ethereum (ETH) has gradually gained bullish ground over Bitcoin (BTC) in the recent past amid an anticipated crypto constructive breakout. On-chain data analysis shows institutional investors have been increasing their Ether position, with some – led by Bit Digital – ditching Bitcoin to get Ethereum’s exposure.
According to on-chain data analysis provided by , Ether accounts with a balance of between 10k and 100k ETH coins added more than 200k coins over the past weekend, thus currently holding about 26.88 million coins. Consequently, the overall supply of Ether on centralized exchanges has exponentially declined to a multi year low of about 18 million coins.
The Ethereum network remains unrivaled in the development of decentralized financial (DeFi) protocols and tokenization of real-world assets amid the emergence of flashy chains led by Solana (SOL). According to data from Defillama, the Ethereum network has a total value locked (TVL) of about $65 billion and a stablecoins market cap of around $126 billion at the time of this writing.
In comparison, the Solana network has a TVL of around $8.59 billion and a stablecoins market cap of around $10.8 billion. The Tron (TRX) network has a TVL of around $4.95 billion and a stablecoins market cap of around $81 billion.
The Ethereum network has a reputable proof-of-stake (PoS) consensus mechanism. According to market data from , the number of staked Ether has surged to more than 35.5 million coins, which has been staked by over 100k validators.
The Ethereum network has attracted more investors in the recent past following an impressive performance by the U.S. spot Ether ETFs. According to market data from , the U.SZ spot Ether ETFs have recorded a net cash inflow of about $2 billion since April, thus currently holding total net assets of around $10.71 billion.
Meanwhile, technical analysis shows Bitcoin dominance has reached a major psychological resistance, signaling imminent market reversal. With the ETH/BTC pair attempting to form a macro bullish momentum, more investors have been betting on an altseason in the near term.
Since Ether price rebounded above $2k in early May 2025, the large-cap altcoin has been trapped in a consolidation above $2,500 to date.
Most importantly, ETH price in the daily timeframe has consistently closed above the year-to-date falling logarithmic trend, signaling the bulls are gaining ground.
The uptrend sentiment for Ether is also bolstered by the daily MACD indicator, whereby the MACD line recently crossed above the zero line amid rising bullish histograms.
