Ethereum withdrawals on Binance have caught the crypto world’s attention with one of the most remarkable moves in recent months. According to CryptoQuant data, 166 thousand ETH left the exchange in the past 24 hours, marking the strongest daily outflow recorded since March 2023.
Outflows hit a three-year highThe data show that Ethereum withdrawals from Binance have surged to their highest level in over three years. This move comes as the market is searching for direction and signals a notable shift in investor behavior. As one of the world’s highest-volume crypto exchanges, large withdrawals from Binance tend to be watched closely by market observers.
CryptoQuant data revealed that the Ethereum withdrawals on Binance have reached their highest point in more than three years, with 166 thousand ETH leaving the platform in the past 24 hours.
The sharp spike in withdrawals has fueled the view that crypto investors may be choosing to move their assets off exchanges and into long-term storage. The fact that this activity took place while the Ethereum price hovered around $1,500 has fueled speculation that some investors find this zone a compelling buying opportunity.
Mini glossary: CryptoQuant is an analytics platform that tracks the crypto market using on-chain blockchain data and exchange flows. Large outflows from exchanges are at times interpreted as a signal that investors may prefer holding over selling.
Ethereum seeks a recoverySince its latest peak at the start of 2025, Ethereum has faced sustained correction pressure, with its value dropping about 67%. Interestingly, over the same period, Ethereum’s decline has outpaced Bitcoin’s pullback by roughly 15 percentage points.
MetricDataDaily ETH outflow from Binance166 thousand ETHPrevious similar outflow recordHighest since March 2023ETH change since 2025 peak67% declinePrice movement in last 48 hoursApproximately 10% riseDespite this, there have been signs of price recovery over the last two days. Ethereum climbed roughly 10% in 48 hours to again top $1,700. The timing of both the withdrawal surge and rising prices has prompted debate over whether accumulation momentum is returning to the market.
The sharp withdrawal activity in Ethereum took place while the price steadied near $1,500, fueling expectations that some investors view this level as a bargain-buying opportunity.
The latest volatility shows how quickly investor sentiment can shift. Especially for major exchanges, sizable asset outflows offer key signals on how investors are positioning themselves and may hold clues beyond short-term price action.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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3 July 2026 | 19:55 The Ethereum derivatives market is flashing a fascinating divergence: trader conviction is recovering much faster than the underlying spot price.
Following a sharp flush out in early June, leverage is quietly returning to the market. However, unlike previous speculative peaks, this rebuilding phase is characterized by localized aggressive positioning rather than market-wide exhaustion.
Key Takeaways ETH funding rates hit 0.016% despite lower prices. Total open interest sits at $4.35B, avoiding overheating. Bullish conviction rebuilds with ETH 15-20% below peaks. Conviction Leading Price The first clear signal of returning bullish sentiment shows up in funding rates, the periodic fee paid between long and short traders to keep perpetual contract prices pegged to the spot index.
Ethereum funding rates across all exchanges. Currently, funding rates across major exchanges have accelerated back to approximately 0.016%. To put this in perspective, this is significantly higher than the 0.009% levels observed in late May, even though Ethereum was trading much higher at the time ($2,000–$2,150).
Late May Pre-Washout vs. Current Stabilization ETH Spot Price: $2,000 – $2,150 in late May vs. $1,730 at the time of writing. Average Funding Rate: ~0.009% in late May vs. ~0.016% currently. Total Open Interest: High peak over $12B in late May vs. ~$4.35B (below the 30-day average) currently. When ETH fell to its early June floor near $1,540, a massive wave of leveraged long positions was wiped clean from the order books, temporarily cooling the market. Crucially, funding rates refused to stay negative for any meaningful duration. Short sellers never took dominant control. Instead, as spot prices consolidated and stabilized around the $1,700–$1,730 liquidity pocket after 9% gain for the week according to CoinMarketCap data, buyers aggressively stepped back in, driving the cost of holding leverage to its highest point in weeks.
ETH/USDT daily technical price chart. The Structural Volatility Shield While funding rates show that active traders are increasingly eager to bet on upside, the second dataset proves that the broader market is not yet dangerously over-leveraged.
Binance’s 30-day Open Interest (OI) Z-Score, which measures how far current leverage volume deviates from its statistical average, currently sits at -0.56, according to report, shared by CryptoQuant. Total open interest across the market is hovering around $4.35 billion, remaining comfortably below the 30-day baseline of $4.81 billion.
Binance ETH Open Interest Z-Score analysis. What this tells us is that while individual participants are using higher leverage (high funding), the total volume of leveraged positions in the system is still entirely manageable. The speculative excesses of early cycle shifts might be successfully digested.
This localized positioning marks a pivotal shift from the retail-led euphoria that defined the 2025 cycle peaks. In previous rallies, market-wide leverage was often driven by speculative cascades, where retail over-leveraging forced rapid, correlated liquidations. Conversely, the current fragmentation suggests that institutional allocators are re-entering with a more surgical approach.
Data from SoSoValue reinforces this thesis, showing a clear, consecutive ramp in Ethereum Spot ETF inflows, climbing from $14.89M on July 1 to $29.08M by July 2. This reversal follows a grueling nine-day streak of consecutive net outflows, underscores a deliberate, capital-intensive accumulation phase.
For these desks, a non-correlated recovery is actually a health signal; it indicates that the market is currently supported by structural demand rather than reactive, emotion-driven sentiment. By avoiding a broad, systemic blow-up, the market is constructing a more durable floor. This layout makes the current environment significantly more attractive for institutional mandates that prioritize structural stability over parabolic, high-risk exposure.
Will Spot Follow Derivatives? This structural layout sets up a high-stakes race between derivatives conviction and spot market demand.
Positive funding rates are fundamentally healthy during sustained uptrends; they signal an appetite for risk and structural momentum. The underlying risk surfaces when derivatives positioning outpaces spot market accumulation.
If Ethereum’s spot demand strengthens and absorbs this momentum, the rising funding rates could serve as fuel for a clean, sustainable recovery. However, if spot buying fails to break key overhead resistance levels, these newly minted, high-funding long positions will become exposed. A failure to move higher could transform this growing optimism into a localized liquidation trap, prompting short-term cascade liquidations and heightened volatility.
The early June washout effectively cleared the board, but it did not break the underlying risk-on bias of the market. With traders front-running a recovery while ETH still sits 15-20% below its spring highs, all eyes now turn to spot order books to validate the move.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
3 July 2026 | 19:55 The Ethereum derivatives market is flashing a fascinating divergence: trader conviction is recovering much faster than the underlying spot price.
Following a sharp flush out in early June, leverage is quietly returning to the market. However, unlike previous speculative peaks, this rebuilding phase is characterized by localized aggressive positioning rather than market-wide exhaustion.
Key Takeaways ETH funding rates hit 0.016% despite lower prices. Total open interest sits at $4.35B, avoiding overheating. Bullish conviction rebuilds with ETH 15-20% below peaks. Conviction Leading Price The first clear signal of returning bullish sentiment shows up in funding rates, the periodic fee paid between long and short traders to keep perpetual contract prices pegged to the spot index.
Ethereum funding rates across all exchanges. Currently, funding rates across major exchanges have accelerated back to approximately 0.016%. To put this in perspective, this is significantly higher than the 0.009% levels observed in late May, even though Ethereum was trading much higher at the time ($2,000–$2,150).
Late May Pre-Washout vs. Current Stabilization ETH Spot Price: $2,000 – $2,150 in late May vs. $1,730 at the time of writing. Average Funding Rate: ~0.009% in late May vs. ~0.016% currently. Total Open Interest: High peak over $12B in late May vs. ~$4.35B (below the 30-day average) currently. When ETH fell to its early June floor near $1,540, a massive wave of leveraged long positions was wiped clean from the order books, temporarily cooling the market. Crucially, funding rates refused to stay negative for any meaningful duration. Short sellers never took dominant control. Instead, as spot prices consolidated and stabilized around the $1,700–$1,730 liquidity pocket after 9% gain for the week according to CoinMarketCap data, buyers aggressively stepped back in, driving the cost of holding leverage to its highest point in weeks.
ETH/USDT daily technical price chart. The Structural Volatility Shield While funding rates show that active traders are increasingly eager to bet on upside, the second dataset proves that the broader market is not yet dangerously over-leveraged.
Binance’s 30-day Open Interest (OI) Z-Score, which measures how far current leverage volume deviates from its statistical average, currently sits at -0.56, according to report, shared by CryptoQuant. Total open interest across the market is hovering around $4.35 billion, remaining comfortably below the 30-day baseline of $4.81 billion.
Binance ETH Open Interest Z-Score analysis. What this tells us is that while individual participants are using higher leverage (high funding), the total volume of leveraged positions in the system is still entirely manageable. The speculative excesses of early cycle shifts might be successfully digested.
This localized positioning marks a pivotal shift from the retail-led euphoria that defined the 2025 cycle peaks. In previous rallies, market-wide leverage was often driven by speculative cascades, where retail over-leveraging forced rapid, correlated liquidations. Conversely, the current fragmentation suggests that institutional allocators are re-entering with a more surgical approach.
Data from SoSoValue reinforces this thesis, showing a clear, consecutive ramp in Ethereum Spot ETF inflows, climbing from $14.89M on July 1 to $29.08M by July 2. This reversal follows a grueling nine-day streak of consecutive net outflows, underscores a deliberate, capital-intensive accumulation phase.
For these desks, a non-correlated recovery is actually a health signal; it indicates that the market is currently supported by structural demand rather than reactive, emotion-driven sentiment. By avoiding a broad, systemic blow-up, the market is constructing a more durable floor. This layout makes the current environment significantly more attractive for institutional mandates that prioritize structural stability over parabolic, high-risk exposure.
Will Spot Follow Derivatives? This structural layout sets up a high-stakes race between derivatives conviction and spot market demand.
Positive funding rates are fundamentally healthy during sustained uptrends; they signal an appetite for risk and structural momentum. The underlying risk surfaces when derivatives positioning outpaces spot market accumulation.
If Ethereum’s spot demand strengthens and absorbs this momentum, the rising funding rates could serve as fuel for a clean, sustainable recovery. However, if spot buying fails to break key overhead resistance levels, these newly minted, high-funding long positions will become exposed. A failure to move higher could transform this growing optimism into a localized liquidation trap, prompting short-term cascade liquidations and heightened volatility.
The early June washout effectively cleared the board, but it did not break the underlying risk-on bias of the market. With traders front-running a recovery while ETH still sits 15-20% below its spring highs, all eyes now turn to spot order books to validate the move.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
The crypto market is moving through a pivotal period of evolution. Long-term trends surrounding the XRP price prediction and the Ethereum price forecast 2030 continue to guide investor expectations. These projections rely heavily on Ripple’s utility in cross-border financial networks and Ethereum’s reigning dominance over smart contracts and Web3 systems. While both established assets serve as reliable benchmarks for digital currency growth, market participants are intentionally shifting their focus toward early-stage networks that offer significantly higher upside potential.
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Adoption Trends Drive Long-Term XRP Price Predictions Table of Contents
Adoption Trends Drive Long-Term XRP Price PredictionsEthereum Price Forecast 2030 Reflects Network EvolutionBlockDAG’s World Cup Bonus Boosts Token Accumulation PowerKey Insights Ripple’s expanding role in cross-border payments and international financial systems heavily dictates the current XRP price prediction narrative. Engineers designed XRP specifically to settle fast, low-cost international transactions in just a few seconds. This high-speed utility makes it an incredibly relevant asset for global remittance and institutional payment corridors.
Because of these variables, long-term market projections for XRP vary significantly. Conservative analysts suggest that moderate real-world adoption will likely place the asset’s long-term valuation somewhere between $1 and $5.
On the other hand, more optimistic outlooks push the XRP price prediction up to $10 or even higher. Achieving these higher price levels depends heavily on clearer global regulatory frameworks and deeper integration into institutional banking systems. Ultimately, the long-term future of XRP remains tied to liquidity demands and practical banking adoption.
Ethereum Price Forecast 2030 Reflects Network Evolution The Ethereum price forecast 2030 depends entirely on the network’s established role as the world’s leading smart contract platform. It serves as the primary backbone for decentralized finance (DeFi), NFTs, and decentralized applications (dApps). Because its ecosystem hosts the majority of decentralized protocols, Ethereum benefits from continuous network activity and high developer engagement.
Long-term valuation models show that the Ethereum price forecast 2030 sits comfortably between $8,000 and $20,000. Reaching these targets requires steady institutional participation, rising global adoption, and successful network upgrades.
These ongoing technical upgrades are designed to increase transaction throughput and lower gas fees during peak congestion periods. As blockchain technology integrates into mainstream industries, Ethereum’s capability to maintain a reliable, scalable infrastructure will dictate its long-term financial position.
BlockDAG’s World Cup Bonus Boosts Token Accumulation Power BlockDAG is capturing widespread attention as it rolls out advanced features and expanding utility. This rapid growth strengthens its reputation as the best crypto to buy for individuals targeting early network momentum. The primary catalyst driving this market interest is the limited-time 100% World Cup Bonus. This promotional structure dramatically boosts coin accumulation by granting buyers an extra 50% to 100% in BDAG tokens, successfully doubling their initial positions at activation.
With a current entry price of $0.00000066 and an anticipated buyback benchmark set at $0.03, BlockDAG presents a wide valuation gap. This difference underscores the substantial upside potential available as the ecosystem matures and market demand scales upward.
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Key Insights The crypto landscape continues to adjust around the utility-driven XRP price prediction and the institutional Ethereum price forecast 2030. XRP maintains its focus on cross-border payment efficiency, while Ethereum relies on its massive smart contract ecosystem. Both legacy assets move within long-term adoption cycles that depend heavily on regulatory progress and institutional capital.
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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Solana now beats Ethereum on trading volume, active users, and fee revenue. Ethereum still holds the money. Halfway through 2026, the question is no longer who is faster. It is whether the two chains are even running the same race.
Summary
Solana has overtaken Ethereum in Layer 1 activity with higher transaction volume, more active users, stronger DEX trading, and greater fee revenue. Ethereum continues to dominate in total value locked, stablecoin liquidity, institutional adoption, and developer activity despite losing ground in onchain usage. The rivalry has shifted from a direct competition into two distinct models, with Ethereum focused on settlement and custody while Solana leads in trading and execution. There was a time when the Ethereum versus Solana debate could be settled with a smirk and an outage screenshot. Solana was the chain that went down. Ethereum was the chain that mattered. Then Solana stopped going down, its trading volume flipped Ethereum’s, its ETF launched to institutional inflows while Ethereum funds bled for seventeen straight days, and the smirk changed sides.
Halfway through 2026, both tokens are deep in a bear market. ETH trades near $1,714 after a brutal second quarter that included a 29.5% thirty-day drawdown at the June lows, its worst quarterly stretch in years. SOL trades near $81, down roughly 78% from its cycle high, hit even harder in raw percentage terms. Price settles nothing here. The interesting story is underneath, in the on-chain data, where the two networks have diverged so completely that comparing them now requires deciding which metrics count.
So: is Ethereum losing the L1 race to Solana? The honest answer is that Solana has already won several of the events, Ethereum still owns the ones with the most prize money, and the race itself has split into two different sports.
How we got here: a short history of a long feud The rivalry has run through three distinct acts, and the current one makes no sense without the first two.
Act one, 2021 through 2022, was Solana as the venture-backed challenger: a chain built for speed, championed by Sam Bankman-Fried, and dismissed by Ethereum partisans as a centralized science project. The dismissal briefly looked like prophecy. Solana suffered repeated full-network outages, including the infamous February 2024 halt that lasted nearly five hours after a legacy loader bug forced a coordinated validator restart, and when FTX collapsed in November 2022, SOL crashed toward single digits as the market priced in guilt by association. Obituaries were published. Several were smug.
Act two, 2023 through 2024, was the resurrection nobody ordered. Solana’s developer community kept shipping through the winter, the Jupiter and Jito ecosystems matured, memecoin mania found its natural home on the only chain where a thousand trades cost less than a sandwich, and DEX volume began the climb that ended with the flip of Ethereum in late 2024. Ethereum spent the same period executing its own plan flawlessly and discovering the plan had a hole in it: the Dencun upgrade in March 2024 introduced blob space and cut L2 costs by an order of magnitude, which supercharged rollup adoption while gutting the fee burn that had underwritten the ultrasound money narrative. Activity exploded across the Ethereum stack, and ETH the asset captured almost none of it.
Act three is now: both chains institutionally legitimate, both tokens deep underwater, and the argument relocated from architecture threads to fund flow tables. Uniswap founder Hayden Adams warned back in 2025 that Ethereum’s confused scaling identity could hand DeFi leadership to Solana; in 2026 that warning reads less like a hot take and more like a memo the market already acted on.
The scoreboard, metric by metric Start with what Solana has flatly won: activity.
On a representative day in late June, Solana processed 127 million transactions from more than 2 million active addresses. Ethereum mainnet processed 2.8 million transactions from roughly 512,000 active addresses. That is not a gap. That is a different order of magnitude. Solana sustains 600 to 700 real transactions per second on average against Ethereum L1’s 15 to 20, at a cost of roughly $0.00025 per transaction against Ethereum’s dollars-per-swap mainnet pricing.
Trading volume tells the same story. Solana’s weekly DEX volume hit $11.49 billion in April against Ethereum’s $7.62 billion, a 51% lead. In February the monthly gap was wider still: $117 billion on Solana against $52 billion on Ethereum, more than double. Jupiter, the aggregator that routes the overwhelming majority of Solana order flow across Raydium, Orca, Phoenix, and Meteora, alone processes $2 billion to $4 billion in daily volume. Solana flipped Ethereum on DEX volume in late 2024 and has held the lead through every market condition since.
Then comes the metric that should worry Ethereum researchers most: revenue.
Solana generates over $1 million in chain fees per day. The major Ethereum L2s, where most Ethereum user activity now lives, generate under $200,000 combined, because blob-based data posting after the Dencun upgrade pushed L2 costs, and therefore L2 fee revenue, toward zero. Ethereum deliberately commoditized its own execution layer to win the rollup war. The result is a settlement layer with shrinking direct income and a rival that monetizes every swap on a single unified ledger.
Now flip the card, because Ethereum’s wins are just as lopsided.
Total value locked Ethereum L1 holds roughly $55.6 billion in DeFi deposits, around 68% of the entire global DeFi market, and the combined L1 plus L2 figure exceeds $80 billion. Solana holds between $8 billion and $12 billion depending on the week and the methodology, a figure that took a $270 million hit in April when the Drift Protocol exploit tore through its perps ecosystem. The deepest protocols in the industry, Lido at $27.5 billion, Aave at $27 billion, EigenLayer at $13 billion, all live on Ethereum, and Aave V4 launched on Ethereum mainnet in April to reinforce the point.
Stablecoins Ethereum hosts roughly 70% of all on-chain stablecoin supply, around $32 billion in USDC and $60 billion in USDT, and remains the venue where BlackRock, Franklin Templeton, and JPMorgan build tokenized products first. Solana carries about $14 billion in stablecoins, though each of those dollars turns over roughly six times faster than its Ethereum counterpart.
Developers Ethereum counted 31,869 active developers against Solana’s 17,708 at the latest Electric Capital reading, and added more new developers over the trailing year than any other ecosystem. Solana ranked second.
One chain has the users, the volume, and the revenue. The other has the money, the institutions, and the builders. Losing, it turns out, depends entirely on where you point the camera.
How the race split in two The reason the comparison keeps producing contradictory answers is that the two chains stopped competing on the same terms years ago, a divergence we chronicled when the ecosystems first collided in early 2025.
Ethereum abandoned the monolithic race on purpose. Its roadmap treats the base layer as settlement infrastructure while execution migrates to rollups: Base, Arbitrum, Optimism, and a long tail of zk systems that post proofs and data back to mainnet. Base alone captures nearly half of all L2 DeFi value, Arbitrum another 31%, and the top three rollups process close to 90% of all L2 transactions. Measured as a stack, the Ethereum ecosystem still dwarfs Solana on almost every capital metric. Measured as an L1, Ethereum mainnet is a slow, expensive chain that its own designers no longer intend retail users to touch.
Solana made the opposite bet: one ledger, one global state, sub-second finality at 400 milliseconds, and a relentless engineering campaign to make the single chain fast enough that nothing else is needed. The Firedancer validator client built by Jump Crypto, rolling toward full deployment late this year, is the endgame of that bet, with a theoretical ceiling measured in the hundreds of thousands of transactions per second. The network reliability problem that defined Solana’s reputation in 2022 and 2023 has largely disappeared; outages went from routine to rare, and the chain has traded its crash-prone image for something closer to an execution monopoly on retail flow.
The philosophical split produces the statistical one. Capital sits and compounds on Ethereum because that is what the architecture rewards: deep pools, long-duration lending, staking layered on restaking. Capital churns on Solana because sub-cent fees make churning free: high-frequency trading, memecoin rotation, dollar-cost-average bots, payments. Ethereum became the deposit ledger. Solana became the trading floor.
Follow the fees: two broken business models, one working one The revenue gap deserves its own examination, because it is the metric where architecture decisions turn into economics, and where both chains have problems they rarely advertise.
Ethereum’s fee engine used to be the envy of the industry. EIP-1559 burned base fees, high demand made ETH deflationary, and the ultrasound money framing wrote itself. The rollup migration dismantled the machine step by step. Execution moved to L2s, whose sequencers keep the margin between what users pay and what blob posting costs, and Dencun made blob posting cost next to nothing. The result in 2026: mainnet burns a fraction of its former fee load, L2s pay Ethereum pennies for security worth billions, and the value accrual question, what does ETH earn when Base wins, has replaced scaling as the ecosystem’s defining unsolved problem. Ethereum built a settlement business and priced its product like a public good.
Solana’s engine is simpler and currently stronger: one chain captures every fee at every layer. The base fee is fixed at 5,000 lamports per signature, roughly a hundredth of a cent, while priority fees let users bid during congestion, and stake-weighted quality of service plus local fee markets keep hot accounts from clogging the scheduler. On top of the protocol fees sits the Jito MEV economy, where searcher tips flow to validators and stakers, turning order-flow chaos into staking yield. Over $1 million in daily chain revenue against sub-$200,000 for the entire major L2 basket is the visible output.
The caveat is concentration of source. A large share of Solana’s fee revenue traces to speculative trading, memecoins above all, which makes the revenue line high-beta to the exact market segment least likely to survive a deep winter. Ethereum’s fee problem is structural but its demand is diversified; Solana’s fee machine works beautifully and runs on the most flammable fuel in crypto. Neither model is finished.
Fusaka and the second-half Ethereum upgrade path aim at scaling data further without answering value capture, while Solana’s validator economics, where thin margins already pushed the validator count down 68% from its 2023 peak, depend on fee and MEV income holding up.
The other front: stablecoins, payments, and tokenized everything DEX volume gets the headlines, but the war’s second front may matter more by 2027, because it is the one institutions actually fund: who carries the tokenized economy.
Ethereum’s position is incumbency at scale. Roughly 70% of stablecoin supply, the deep USDC and USDT float that institutional desks require, and essentially the entire first generation of tokenized funds. When Ondo debuted its SEC-aligned tokenized stock model with BlackRock ETF shares this week, the underlying rails were Ethereum-ecosystem by default. Stablecoin legislation cleared the path for bank issuance and for the consortium models now emerging among major institutions, and banks build where the auditors already have coverage, which is one more network effect compounding for the incumbent.
Solana’s position is velocity and consumer reach. Its $14 billion stablecoin float turns over roughly six times faster than Ethereum’s, because sub-cent fees make stablecoins usable as money instead of just collateral. USDC settles on Solana in under a second for a fraction of a cent, which is why Visa chose it for settlement pilots, why payment processors keep adding it, and why the Solana Developer Platform launched with Mastercard, Worldpay, and Western Union rather than with hedge funds. Solana is also mounting a genuine RWA challenge through Token-2022, whose compliance extensions target exactly the issuer requirements Ethereum handles with bespoke contracts, and both chains now face a third competitor for the same institutional flow in the compliance-native stack being assembled on the XRP Ledger.
The stakes here dwarf the DEX war. Stablecoins are a $320 billion asset class growing through legislation, and tokenized funds are the institutional product with the steepest adoption curve. If Ethereum keeps the float while Solana takes the flow, the split-decision structure of this whole rivalry repeats at a much larger scale, with Ethereum as the vault and Solana as the checkout lane of tokenized finance.
The institutional tiebreaker For most of crypto history, the institutional column belonged to Ethereum without argument. That is the column where 2026 has produced genuine movement.
The regulatory sequence mattered first. The SEC’s March 2025 classification of sixteen digital assets including SOL as commodities dissolved the securities overhang that had kept allocators away, and spot Solana ETFs began trading on October 28, 2025, making SOL the third asset after BTC and ETH with U.S. spot fund access. The flows since then have been small next to Bitcoin’s but directionally embarrassing for Ethereum: through the spring drawdown, Solana ETFs crossed $1 billion in cumulative inflows while Ethereum funds posted a seventeen-day outflow streak that stripped hundreds of millions, and July has opened with ETF flow reports showing ETH and SOL products gaining together while Bitcoin funds bleed. Goldman Sachs disclosures showed over $100 million in SOL exposure, and CalPERS entered the asset class the same quarter.
Solana’s institutional push went beyond funds. The Solana Foundation launched its Developer Platform in March with Mastercard, Worldpay, and Western Union among early adopters, shipped a quantum-readiness plan built on the NIST-standardized Falcon signature scheme in April, and rolled out on-chain, stake-weighted validator governance this week. Token-2022 extensions gave the chain the compliance hooks, confidential transfers, transfer restrictions, interest-bearing instruments, that enterprise issuers require. The pitch that Solana is a casino chain unsuitable for serious money has aged badly.
Ethereum’s institutional position remains the stronger one on stock rather than flow. It custodies the tokenized funds, hosts the deep stablecoin float, and runs the staking infrastructure through which more than 35 million ETH, nearly 29% of supply, secures the network across a million-plus validators. When a treasury desk needs to move nine figures with minimal slippage, Ethereum’s depth is still the only game available. BitMine Immersion bought its way past 5 million ETH this spring precisely on that thesis. But stock is what you accumulated yesterday. Flow is what you are winning today, and the flow has been tilting one direction for over a year.
The uncomfortable items on both ledgers Neither chain gets to run its highlight reel without the blooper file.
Solana’s validator count has collapsed to roughly 795 active validators from more than 2,500 in 2023, a 68% decline that concentrates block production and hands critics a decentralization argument with real teeth. Its DeFi remains thin and concentrated: one aggregator with 95% market share is a single point of failure wearing a market structure costume, and the $270 million Drift exploit showed what happens when a load-bearing protocol breaks. Its volume mix still leans on memecoin speculation, the most cyclical demand source in the industry, and February’s $117 billion month can become a $40 billion month without a single thing going wrong technically.
Ethereum’s problems are quieter and arguably deeper. Lido alone controls roughly 24% of staked ETH, a concentration risk of its own. The rollup roadmap solved scaling and created a value-capture puzzle nobody has answered: if execution fees accrue to Base and Arbitrum while blobs cost pennies, what exactly does ETH the asset earn from Ethereum the ecosystem’s growth? Retail has already voted, migrating to L2s so completely that mainnet active addresses look like a ghost town next to Solana’s. And the fragmentation tax is real: liquidity split across a dozen rollups with seven-day optimistic exits is a worse user experience than one chain with 400-millisecond finality, no matter how elegant the settlement theory. The KelpDAO exploit this spring, which erased $13 billion of TVL in 48 hours of contagion, showed that composability depth cuts in both directions.
Both assets, meanwhile, have been terrible investments this year, a market-wide condition tied to the macro regime we examined in the context of Bitcoin’s liquidity dependence. Fee revenue and active addresses have not protected SOL holders from a 78% peak drawdown, and settlement supremacy has not protected ETH holders from underperforming Bitcoin for most of the cycle. Whatever race is being run, neither token’s chart looks like a victory lap, and on-chain fundamentals have been decoupled from price across the majors for much of 2026.
So who is actually winning? Frame the question three ways and you get three defensible answers.
If the L1 race means base-layer usage, Solana won it, and the margin is no longer close. Two hundred times Ethereum’s L1 throughput, forty times its transaction count, five times its daily fee revenue, and a lead in DEX volume that has survived every market regime since late 2024. By the definition of Layer 1 that existed when the rivalry started, the contest is over.
If the race means where value lives, Ethereum is not losing and may never lose within this cycle. A 68% share of global DeFi TVL, 70% of stablecoin supply, the institutional tokenization pipeline, and the largest developer base in the industry constitute a network-effect fortress that Solana’s growth has dented but nowhere near breached. Capital has inertia, and inertia compounds.
If the race means trajectory, the tape favors Solana with an asterisk. It is winning new users, new listed products, new enterprise integrations, and the ETF flow battle. The asterisk is that trajectory arguments assume the current regime persists, and Solana’s flow-heavy economy is more exposed than Ethereum’s stock-heavy one to the next collapse in speculative appetite. Ethereum’s Fusaka upgrade cycle and the second-half protocol roadmap that all major chains have queued for late 2026 could reshuffle the technical comparison again.
The most likely outcome is also the least satisfying for partisans: permanent coexistence with divided territory. Ethereum settles and custodies. Solana executes and trades. Builders already behave as if this is settled, deploying on both by default. The 2025 framing of an L1 war with a single survivor has quietly died, not with a bang but with two chains discovering they are optimized for markets the other cannot serve.
What could flip the board before December Split decisions invite the obvious follow-up: what would actually change the standings? Four live catalysts carry enough weight to move the argument rather than the noise.
Ethereum’s upgrade cycle is the first. The Fusaka window and the broader second-half protocol roadmap target another step-change in data capacity, and the ecosystem’s real prize sits next to it: any credible mechanism that routes L2 economic success back into ETH, whether through based sequencing, native rollup designs, or fee-market reform, would repair the value-capture hole that has haunted the asset since Dencun. Markets have front-run Ethereum upgrades before; a roadmap that finally answers the accrual question would be the first fundamental ETH catalyst in two years.
Firedancer completion is the second. Solana’s independent validator client moving to full deployment removes the single-client risk that institutions cite most, and its throughput headroom opens application categories, full order-book markets, high-frequency payment networks, that no chain currently serves. If even one breakout consumer or enterprise application lands on that capacity, Solana’s volume base diversifies away from memecoins, which neutralizes the strongest bear argument against its fee economy.
ETF mechanics are the third. Staking-enabled fund structures, under active regulatory discussion for both assets, would transform the flow picture: a spot product yielding 3% to 7% natively changes the allocator pitch entirely, and the asset that gets staking approval first inherits a durable flow advantage. Watch the filings, not the influencers.
Treasury companies are the fourth and strangest. BitMine’s multimillion-ETH accumulation and the emerging class of SOL treasury vehicles mean corporate balance sheets now sit inside both ecosystems as permanent, price-insensitive holders. The Strategy playbook applied to ETH and SOL is small today; its growth rate through a recovering market could make treasuries the marginal buyer that decides which token outperforms, independent of every on-chain metric in this article.
The verdict for the second half Ethereum is losing the L1 race as originally defined, and it forfeited that race by choice when it went all-in on rollups. Solana is winning everything measurable at the base layer while still trailing badly where the institutional money actually sits. Watch three numbers through December: whether Ethereum ETF flows recover once its next upgrade lands, whether Firedancer’s full rollout converts Solana’s throughput ceiling into new categories of application, and whether Solana DeFi TVL can hold above $12 billion without memecoin volume subsidizing it. The chain that answers its own weakness first will own the 2027 narrative. Until then, the war everyone expected has settled into something stranger: two winners, two different games, and one increasingly obsolete question.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Digital asset markets are volatile, and you can lose your entire investment. Always do your own research. Information current as of July 3, 2026.
Transaction patterns are changing fast across the Solana network. A notable segment of investors has begun to move away from speculative memecoin trading, shifting their focus to major cryptocurrencies like Bitcoin and Ethereum. This move underscores a broader transformation for Solana as it evolves from being associated mainly with short term speculation to becoming a platform supporting a wide scope of real world applications and diverse digital assets.
Changing trends in transaction compositionMarket analyst Kylobayd reports that cross chain token transactions on Solana have reached an impressive $211.7 million. The surge in liquidity for assets coming from networks like Bitcoin and Ethereum highlights how investor interest is tilting toward well established cryptocurrencies over purely speculative meme assets.
With cross chain token transactions on Solana hitting $211.7 million, the network’s activity base has clearly expanded beyond the memecoin craze.
While the largest category of transactions still leads with $259 million, the gap between it and the cross chain segment is now down to just 18 percent. Analysts see this narrowing margin as evidence that Solana’s ecosystem is gradually diversifying and reducing its previous reliance on a single asset class.
This growing diversification could help decentralized exchanges on Solana achieve more balanced liquidity instead of being driven by the wild swings of a single token. The current trend also supports the integration of decentralized finance (DeFi) and cross chain asset utilization within Solana’s high performance, low cost blockchain infrastructure.
All eyes on the $120 technical targetThe technical outlook for Solana’s native token, SOL, is turning increasingly bullish. According to analyst BATMAN, a classic Wyckoff structure has recently completed on the SOL chart, with the price reclaiming its previous trading range after a significant sweep of liquidity.
Mini glossary: The Wyckoff structure is a technical analysis approach that describes price movements in stages like accumulation, false breakouts, and rallies. Regaining support in this pattern typically signals that buyers are regaining strength.
After retreating from above $200, SOL moved sideways for months within the $76 to $98 zone. This prolonged consolidation period pointed to a balance between buyers and sellers, but recent renewed demand is now sparking signals of a possible trend reversal.
IndicatorLevelLong term trading range$76 to $98Regained support$76 to $78Analysts’ target zone$120 to $125Current approximate level$81Short dips below key support may have triggered the stop loss orders of bearish traders. Analysts interpret this as textbook Wyckoff action, where strong hands accumulate while weak positions are flushed out.
The powerful candlestick that followed the reclaim of the $76 to $78 region indicates renewed buying pressure entering the market.
If SOL is able to sustain its hold above the $76 to $78 support, the next closely watched technical target stands at $120 to $125. Relative to its current level near $81, this would represent close to 50 percent upside potential.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Crypto market recovery signs are flashing amid July seasonality and rising liquidity. Bitcoin (BTC), Ethereum (ETH), and XRP prices have already rebounded significantly ahead of options expiry today.
BTC price has surged more than 6% to $62K since CoinGape predicted bullish crypto market reset for recovery last week. Over the last 24 hours, the crypto market saw nearly $300 million in short liquidations after US nonfarm payrolls came below expectations.
Over $2.2 Billion in Bitcoin, ETH, XRP Options Expiry Today According to Deribit data, $1.9 billion in Bitcoin options with a put/call ratio of 0.70 are expiring today, July 3. The max pain price is $61,000, below the current $61,626 market price.
Deribit data shows a higher probability of expiring above $61,500 strike price. Moreover, options traders are betting on $64K, $66K and $70K call options for upcoming weekly and monthly expiries.
In the last 24 hours, call options trading volume is higher than put options and has a bullish put/call ratio of 0.75. Falling implied volume and rising 25-delta skew indicate a transition from panic to stability, signaling a potential crypto market recovery.
Bitcoin Options Open Interest. Source: Deribit Meanwhile, $230 million in ETH options to expire today, with a put/call ratio of 1.29. However, the put/call ratio has decreased to 1 as bulls open calls for a $2,500 strike price in September.
The max pain price is $1650, below the current Ethereum price of $1713. Deribit data shows a 91% odds of Ethereum expiring above $1700.
ETH Options Expiry. Source: Deribit XRP options of notional value $3.7 million are set to expire today, with a put/call ratio of 1.06. The max pain price is $1.06, with Deribit data suggesting a $1.14 target by July-end amid broader crypto market recovery.
XRP price is currently trading at $1.10, up 5% over the past 24 hours. The recovery followed US jobs data that raised hopes of a Fed rate cut.
XRP Options Expiry Analysts Predict Crypto Market Recovery Bitcoin price is trading above the 7-day moving average, but still below the 30-day moving average. 10x Research pointed out that heavy supply pressure mounted when the Winklevoss Twins transferred Bitcoin and ETH worth $67 million to Gemini crypto exchange to secure profits.
However, a sudden buying spree by long-term holders helped establish a firm price floor. This happened after Fed Chair Kevin Warsh declined to signal imminent interest rate hikes.
Bitcoin July Seasonality. Source: 10x Research Markus Thielen from 10x Research said “July has historically been Bitcoin’s strongest month, averaging +9.1% returns, before the market typically flattens out through August and September.”
The latest Bitcoin rebound from $58K to nearly $62K comes amid support from derivatives traders. BTC, ETH, and XRP futures open interest have climbed massively in the past 24 hours.
Analyst Cheds Trading noted Bitcoin price recovery, but warned about a hidden bearish divergence with RSI on the daily timeframe. Bitcoin price faces local resistance at the $62.5K zone, which is near the key 200-week moving average.
Bitcoin Hidden Bearish Divergence with RSI. Source: Cheds Trading
Ethereum has made a notable comeback in the past 24 hours, rising more than 5 percent to once again cross the $1,650 mark. As the world’s second largest cryptocurrency by market capitalization, Ethereum has posted a weekly gain of 8.05 percent. Nevertheless, the price still lags well behind the key $2,000 level that was lost earlier this year.
Short liquidations drive the rallyA wave of forced liquidations in the derivatives market played a crucial role in Ethereum’s price rebound. Over the last 24 hours, approximately $92 million worth of short positions betting against Ethereum were closed out. Across the broader crypto asset market, total liquidations exceeded $475 million during the same period. This highlights that the rally was fueled not only by spot buying, but also by the rapid shut-down of leveraged bearish bets.
Ethereum’s futures trading volume surged by nearly 29 percent, reaching $43.4 billion. Open interest climbed above $22.8 billion, and options volume jumped about 57 percent to $915 million. The rise in both open interest and price indicates sustained influx of new capital into the Ethereum market.
Funding rates have remained in positive territory, reflecting ongoing investor appetite for long positions in the short term. This suggests traders are willing to pay a premium for maintaining bullish bets.
An eye-catching technical signal on the monthly chartAnalyst Ali Martinez noted that as July began, Ethereum’s monthly chart flashed a buy signal from the TD Sequential indicator. The same technical signal appeared in September 2022 and March 2025, each preceding major rallies of 235 percent and 182 percent respectively. The current signal has therefore drawn increased attention across the market.
Mini glossary: The TD Sequential is a technical indicator developed by Tom DeMark, aiming to spot exhaustion or trend reversal in price movements. The MVRV compares an asset’s market capitalization with its realized value to determine whether it is historically overpriced or undervalued.
Ali Martinez emphasized that the monthly TD Sequential buy signal seen at the start of July has only occurred twice before in Ethereum’s history, each time followed by a powerful rally.
Martinez also observed that Ethereum’s bounce from $1,549 coincided with the negative 1.0 sigma band of the MVRV extreme deviation model, a technical framework widely used to track historically suppressed price zones.
ETF outflows limit institutional appetiteOn the institutional side, capital flow into spot Ethereum ETFs has taken a cautious turn. Since June 17, spot Ethereum ETFs have logged a cumulative net outflow of $358.3 million. This development suggests that despite recent price gains, institutional investors have yet to trigger a significant accumulation phase.
Ted Pillows pointed out that even though Ethereum has recovered above $1,600, a solid confirmation of bullish momentum would require reclaiming the $1,700 to $1,750 range. Otherwise, the price could revisit yearly lows.
Watch these key levels: $1,700 and $1,550In the near term, the key resistance lies at $1,700. If broken, the $1,800 to $1,850 region becomes the next target, which coincides with Ethereum’s 50-day moving average. On the downside, a drop below $1,600 could mean a retest of the significant $1,550 support zone.
IndicatorLevelCurrent priceAround $1,650First resistance$1,700Upper resistance zone$1,800 to $1,850Main support$1,550Major investor moves are also under close watch in the market. Notably, “Machi Big Brother”, a well-known crypto whale, increased his Ethereum holdings after reducing exposure in some NFT assets. Such moves strengthen the expectation that some large players are eyeing current prices as an entry opportunity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Upbit will add Metaplex (MPLX) for BTC and USDT pairs and Nexus (NEX) for a USDT pair on July 3. Metaplex assists in creating infrastructure for digital assets based on the Solana blockchain, and Nexus builds a Layer 1 blockchain. Upbit, South Korea’s largest cryptocurrency exchange platform, announced the listing of Metaplex (MPLX) and Nexus (NEX). MPLX will be available to trade with BTC and USDT trading pairs on the Solana blockchain platform. NEX will be listed in the USDT market on the Ethereum network. Deposits and withdrawals will start two hours from the time of the announcement.
Scheduled Launch of MPLX and NEX Upbit has announced that MPLX will begin trading at 3:00 PM local time on July 3. Trading for NEX will be launched by the exchange at 6:00 PM local time on July 3. The users have been asked to ensure that deposits happen only through the supported blockchain networks, as deposits made via unsupported networks will not be credited. Upbit has also mentioned that insufficient liquidity may lead to delayed trading due to unfavorable market conditions.
The platform implemented temporary trading restrictions to ensure smooth market operations after listing these two cryptocurrencies. Upbit has put a restriction on buying orders in the first five minutes after trading. All orders, except limit orders, will not be available for 2 hours after listing. Upbit has put a restriction on selling orders that are at least 10% below the previous close price.
Metaplex and Nexus Extend Their Infrastructure Services Metaplex is an infrastructure protocol for digital assets with NFT support, token minting, metadata handling, and mass asset creation in the Solana and Solana Virtual Machine blockchain networks. This protocol allows the standardization of metadata of the assets along with NFT collections, compressed NFTs, and token drops using various ecosystem services. Metaplex also unveiled Agent Registry and Agent Tokens, extending the infrastructure of Metaplex in the direction of on-chain identity registration and token creation. MPLX tokens allow participating in governance, managing treasuries, and certain ecosystem services in the Metaplex DAO.
Nexus builds a Layer 1 blockchain by incorporating verifiable computation capabilities with finance use cases. This network leverages Cosmos SDK, CometBFT, and Ethereum-based smart contracts together with Nexus zkVM for the verification of computing resources from outside the chain. Nexus is also going to extend its ecosystem via Nexus Exchange and the USDX settlement ecosystem. The NEX tokens act as the native gas tokens of the network while staking and compensating computation providers. Upbit also advised users that their deposits should be in compliance with the Travel Rule.
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I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.
Ethereum price traded near $1,715 on July 3, according to crypto.news price data, after rising more than 6% over 24 hours.
Summary
Ethereum reclaimed $1,700 as ETF inflows returned, but exchange netflows still warn of selling pressure. Monthly TD Sequential signals suggest seller exhaustion, while MACD and RSI show early recovery momentum. Binance withdrawal spikes point to accumulation, but rising open interest keeps volatility risk elevated. The move pushed ETH back above the $1,700 area, a level traders have watched closely after weeks of selling pressure.
The rebound came as U.S. spot Ethereum ETFs returned to inflows. On July 2, spot Ethereum ETFs recorded total net inflows of $29.08 million, according to SoSoValue data. BlackRock’s ETHA led the group with $29.74 million in net inflows, while Grayscale’s ETHE recorded outflows of $2.75 million.
Ethereum spot ETF net inflow, source: SoSoValue The token had already been eyeing a $1,700 breakout after July 1 ETF inflows returned. That earlier shift helped ease pressure around the $1,500 support region, but ETH still needed a stronger move above $1,700 to improve its short-term chart.
The next area to watch is $1,800. A clean move above that level could show that buyers are gaining control after the recent drawdown. Failure to hold $1,700 may return focus to $1,650 and then the lower support region near $1,500.
Ethereum Technical indicators improve Ethereum’s short-term indicators are showing better momentum. The MACD histogram is positive near 19.33, while the MACD line sits around -49.01 and above the signal line near -68.34. That confirms the recent bullish crossover has gained strength.
The broader signal is not fully bullish yet because both MACD lines remain below the zero line. This means downside pressure has eased, but the token has not confirmed a full trend reversal. Traders usually look for MACD follow-through toward the zero line before calling a stronger recovery.
Ethereum (ETH) price chart, source: crypto.news The RSI also improved. It stood near 51.85, above its moving average near 38.12. This move above 50 shows buyers are starting to regain control after a weak June.
Crypto analyst Ali Charts said the token has printed a monthly TD Sequential buy signal. In his view, the signal suggests seller exhaustion on a higher timeframe. He also said ETH is approaching a long-term support area near $1,100, which he described as the bottom boundary of Ethereum’s multi-year channel.
ETHEREUM: BULLISH REVERSAL SIGNAL
The month of July has officially kicked off with a massive technical signal. The Tom DeMark (TD) Sequential indicator has just printed a buy signal on Ethereum’s monthly chart.
While a lot of volatility can play out within a newly opened… https://t.co/LNkygeYlUV pic.twitter.com/U8t1iKl3Th
— Ali Charts (@alicharts) July 2, 2026 Ali Charts pointed to $3,000 as a mid-range recovery target if that lower channel holds. He also placed the broader channel ceiling near $5,000. Those levels are long-term technical targets, not short-term price calls.
ETH/BTC setup draws attention Ethereum’s performance against Bitcoin is also drawing attention. Crypto Rover said an ETH/BTC golden cross is forming, with the 50-week moving average moving toward a cross above the 100-week moving average. He said the last similar signal in 2021 came before ETH outperformed Bitcoin.
That setup matters because ETH has lagged Bitcoin during the broader market decline. A stronger ETH/BTC pair would show that capital is rotating back toward Ethereum rather than only following Bitcoin’s rebound.
ETH/BTC GOLDEN CROSS IS FORMING.
50 week crossing above the 100 week.
The last golden cross, 2021, kicked off $ETH outperformance.
The death crosses marked $ETH weakness. pic.twitter.com/AKUHlnMUqb
— Crypto Rover (@cryptorover) July 3, 2026 Derivatives data also shows rising activity. According to Coinglass data, ETH volume rose 14.48% to $44.74 billion, while open interest increased 10.64% to $24.54 billion. Options volume climbed 30.19% to $1.41 billion, and options open interest rose 6.67% to $4.43 billion.
Rising open interest can support stronger price moves when buyers lead the market. It can also raise liquidation risk if leveraged positions build too quickly. For that reason, the current derivatives setup points to more volatility rather than a clean bullish trend.
On-chain signals remain mixed CryptoQuant analyst Darkfost said Binance ETH withdrawal transactions hit their highest level in three years. Binance reportedly logged more than 166,000 withdrawal transactions in one day as ETH rebounded from the $1,500 area.
Exchange withdrawals can point to accumulation when users move coins into self-custody. They can also show funds moving into DeFi for yield. Darkfost said some withdrawals may also reflect confusion around MiCA rules that took effect on July 1, even though withdrawals were not frozen.
Ethereum (ETH) exchange withdrawing transactions, source: CryptoQuant analyst Darkfost Another CryptoQuant analyst, PelinayPA, gave a more cautious reading. The analyst said Binance ETH exchange netflow remained positive at +12,938 ETH, meaning more ETH was moving into the exchange than leaving it. Positive netflow can create selling risk because coins on exchanges are easier to sell.
That contrast keeps the short-term outlook balanced. Withdrawal transactions suggest some users may be accumulating. Positive netflow and rising open interest suggest selling pressure and leverage have not disappeared.
Institutional activity adds support Ethereum also has support from corporate and institutional activity. As crypto.news reported, Ethereum Institutional launched with backing from BitMine, SharpLink, Joe Lubin, and other contributors to support adoption by banks, asset managers, custodians, and financial firms.
BitMine has continued building its Ethereum treasury. As previously reported, BitMine added 27,084 ETH, lifting its holdings to more than 5.7 million ETH, or about 4.7% of Ethereum’s supply.
SharpLink has also kept buying during weakness. The company bought another 10,000 ETH for $16.1 million as Ethereum tested lower support.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
A technical signal appearing on Ethereum’s monthly chart has strengthened expectations that a significant bottom may be forming in the market. Crypto analyst and investor Ali Martinez stated in his assessment on the social media platform X that the TD Sequential indicator on Ethereum’s (ETH) monthly chart has generated a new “buy” signal. According to the analyst, this development indicates that a strong bottom may be forming in ETH.
Martinez highlighted the significance of the current outlook, drawing attention to past signals given by the indicator. According to the analyst, TD Sequential generated a sell signal for Ethereum in September 2021, after which the ETH price fell by approximately 78 percent.
Then, a buy signal that emerged in September 2022 was followed by a strong 235% increase. Martinez also recalled that another buy signal seen in March 2025 preceded an approximately 182% increase in Ethereum.
Ali Martinez pointed out that the signal currently seen is the first buy signal to appear on the monthly chart since March 2025. Therefore, he stated that the current technical outlook could be indicative of a larger bottom formation rather than just a short-term recovery.
According to the analyst, the relatively high accuracy rate of the TD Sequential indicator in the past suggests that selling pressure on Ethereum may be beginning to wane on a macro scale. This means that the recent price correction could be part of a larger process of forming a significant short-term or cyclical bottom.
However, market experts emphasize that technical indicators alone are not sufficient for definitive direction, and that the Ethereum price continues to be strongly influenced by factors such as macroeconomic developments, Bitcoin’s trajectory, spot ETF flows, and overall risk appetite.
*This is not investment advice.
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Key Highlights Ondo Finance introduced blockchain versions of BlackRock’s iShares Core S&P 500 ETF and Micron Technology stock on the Ethereum network First instance of third-party tokenization of US-listed securities on public blockchain infrastructure following SEC custodial guidelines Digital token owners receive complete shareholder privileges, including corporate governance voting through Broadridge’s system Tokenized equity sector expanded 147% during 2026, achieving $5.5 billion in total market capitalization Ondo’s worldwide platform encompasses over 430 stocks and ETFs with close to 181,000 distinct token holders Ondо Finance unveiled blockchain-based representations of BlackRock’s iShares Core S&P 500 ETF and Micron Technology stock this Thursday. These offerings operate within the SEC’s third-party custody framework initially detailed in January.
As America turns 250, U.S. securities have come onchain on U.S. rails.
Today, Ondo Finance announced the first-ever live solution of third-party tokenized U.S. securities operating entirely within the existing regulatory perimeter in the U.S., in partnership with @Broadridge… pic.twitter.com/auHGrXFtrv
— Ondo Finance (@OndoFinance) July 2, 2026
This represents a groundbreaking moment where a third-party entity has successfully tokenized securities listed in the United States on public blockchain infrastructure while maintaining compliance with current US regulatory standards. Earlier comparable offerings either functioned overseas or demanded direct issuer sponsorship.
The actual shares remain within the traditional US custody system. Ondo’s SEC-registered transfer agent division, Oasis Pro TA, creates digital tokens with one-to-one backing from the underlying securities. These blockchain tokens are deployed on Ethereum and maintained by licensed custodians.
Understanding the Custody Architecture Within the SEC’s regulatory structure, a third-party custodian maintains possession of the underlying securities while issuing cryptocurrency tokens that represent the investor’s beneficial ownership of those assets. Transfer limitations are administered by broker-dealers, transfer agents, and custodial institutions following established regulations.
Ondo CEO Ian De Bode stated the rollout demonstrates that securities tokenization can satisfy both marketplace demands and regulatory standards for investors in the US and internationally.
Digital token owners enjoy identical privileges as conventional stockholders. This encompasses receiving issuer notifications and participating in onchain governance voting via Broadridge’s ProxyVote.com infrastructure.
Corporate Governance Rights Extended to Tokenized Securities The collaboration with Broadridge represents a critical component of this development. Owners of more than 250 tokenized securities accessible through Ondo can now engage in proxy voting processes and review corporate documents. The integration leverages a Web3-adapted version of Broadridge’s shareholder communications technology, enabling users to verify their identity using blockchain wallets.
This resolves a frequent objection to tokenized equities — that participants would forfeit the governance privileges associated with conventional direct share ownership.
Ondо’s Global Markets infrastructure operating beyond US borders already facilitates over $1 billion in tokenized securities spanning more than 430 stocks and ETFs. In June, the firm collaborated with Exodus to introduce Exodus Markets on Solana, providing qualified participants with access to over 200 tokenized stocks, ETFs, and real-world assets.
The tokenized equity sector experienced rapid expansion throughout 2026. Market capitalization reached $5.5 billion as of June 8, representing approximately 147% growth from $2.23 billion recorded at year’s beginning. The segment currently ranks as the fourth-largest category within the real-world asset marketplace.
Aggregate tokenized stock valuation reached $1.67 billion with nearly 181,000 distinct holders, based on Ondo’s figures. The market has experienced almost 14-fold growth since May 2025.
Rival platforms including Backed Finance are similarly scaling operations, with tokenized equities now accessible through multiple cryptocurrency exchanges and blockchain ecosystems. A recent Binance analysis revealed tokenized real-world assets increased nearly 600% throughout the previous year.
The Friday expiry session delivered a clear split between Bitcoin and Ether derivatives positioning. A combined $2.13 billion in options notional value settled as 31,000 BTC contracts and 135,000 ETH contracts matured, but the underlying sentiment metrics told two very different stories, according to the market update from WuBlockchain.
Bitcoin’s put-call ratio came in at 0.70, meaning roughly 10 put contracts expired for every 14 calls. A reading below 1 typically signals that traders favored upside exposure, either through outright calls or protective strategies sold into strength. The $1.9 billion in notional value also set the stage for a non-trivial delta hedging unwind as the settlement window closed.
Ether, by contrast, printed a put-call ratio of 1.29. More puts than calls pointed toward a market bracing for downside or hedging aggressively. The $230 million in ETH options notional was a fraction of the Bitcoin tally, but the direction of the ratio was unmistakably cautious. Maximum pain for Ether sat at $1,650—a level that would leave the bulk of open interest worthless and that has historically acted as a magnet during expiry hours.
Bitcoin’s own max pain point was $61,000. When spot prices gravitate toward that strike, options sellers—often market makers—collect premium with minimal payout obligations. Whether the week’s price action respected those gravitational pulls is the kind of detail that matters for desk traders recalibrating gamma exposure. The data alone cannot confirm a direct cause, but the dynamic is well understood by platforms that track weekly expiries.
The divergence between the two largest crypto assets by market cap isn’t happenstance. Bitcoin has been absorbing institutional flows for months, with open interest on Deribit and CME reflecting a market that is increasingly about macro hedging rather than pure speculation. Ether, on the other hand, deals with a more complex narrative: staking yields, Layer-2 fee reduction pressures, and ongoing debates about its monetary premium. The higher put-call ratio may simply reflect a structural need to hedge these moving parts.
That backdrop makes the options data a useful snapshot, not a prophecy. Some altcoin movers ignored any cautious signals, with names like TON, SIREN, and VVV booking large weekly gains during the same window. It’s a reminder that options flow on the majors captures only part of the market’s risk appetite.
What remains uncertain is whether the ETH put dominance will translate into spot pressure or was simply a one-week hedge against an event that didn’t materialize. Post-expiry, the options market resets, and flows rebuild. If the max pain theory held, Ether may have spent the session pinned near $1,650, but the clearing of that concentration also frees up directional bets for the following week.
Longer-term, the expansion of the options market continues to alter how crypto trades. The tokenization of real-world assets, for one, has drawn institutional eyes toward on-chain yields, with RWAs crossing $20 billion in recent weeks. When capital allocators can earn yield on tokenized Treasuries or private credit, their options positioning on BTC and ETH becomes more nuanced. A put isn’t just a short bet; it’s part of a larger portfolio construction puzzle.
Underneath the derivatives surface, network fundamentals haven’t stood still either. The chains that dominate developer mindshare—Ethereum, BNB Chain, Polygon, Solana—continue to see robust activity, as highlighted by this week’s developer activity rankings. That kind of sustained building gives the options market something genuine to hedge.
For the immediate term, traders will be watching whether Ether’s put-call ratio moderates in the next weekly expiry or if it signals a more entrenched defensive posture. Bitcoin’s call-heavy expiry, while seemingly bullish, doesn’t preclude a shakeout. Max pain levels often act as a target, not a floor, and the mechanics of dealer hedging can amplify moves in either direction after settlement.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
Remember when I kept telling you to watch the exit doors instead of the price? For weeks, Ethereum‘s supply was quietly tightening, coins leaving exchanges, staking hitting records, while the price did nothing but bleed and everyone ignored it. Well, this week the ignoring stopped.
ETH is trading at $1,719, up 6.4% on the day, the strongest of all the major coins, and up nearly 9% on the week (live ETH price on CoinGecko). And the thing that lit the fuse is exactly the kind of demand the tight supply was waiting for. Let me walk you through it.
The fund that changed the mood Here is the headline that matters. BlackRock, the world’s largest asset manager, launched a new staked Ethereum fund called ETHB, and it pulled in $100 million on its very first day.
Why is that such a big deal? Two reasons. First, “staked” is the magic word: unlike the older Ethereum ETFs, this fund passes staking yield to investors, the roughly 3% that Ethereum pays for securing the network. That was always Solana’s ETF advantage, and now Ethereum has its own yield-bearing product from the biggest name in finance. Second, $100 million on day one is a statement of demand. After months of watching money drain out of crypto funds, institutions just showed up for Ethereum with real size on the first day they got a product they liked.
And it did not happen in a vacuum. Bitcoin ETFs just logged five straight days of inflows led by BlackRock’s IBIT, the first sustained streak in months. The institutional money that vanished this spring is stepping back in, and Ethereum is getting the biggest single dose of it.
Why ETH is moving so hard Now connect this to the supply story we have been following. Ethereum’s exchange reserves have been sitting at all-time lows around 14.5 million ETH, and the staking ratio at record highs near a third of all supply. Translation: there is less ETH available to buy on the open market than at any point in years.
So what happens when fresh demand, a $100 million fund launch, a short squeeze that liquidated $281 million in bearish bets across crypto, and a dovish shift from Fed Chair Warsh, hits a market with record-thin sellable supply? Exactly what you saw: the price moves fast. A 6.4% daily jump is what a supply squeeze looks like when it finally meets a demand spark. This is the mechanism I have been describing for weeks, just running in the direction nobody positioned for.
The macro helped too. Warsh said inflation risks had eased, the first genuinely dovish note from the new Fed chair, and markets are now watching US jobs data as the next potential fuel. After a hawkish June that crushed crypto, even a small change in the Fed’s tone lands with force.
The honest caveats, as always I owe you the other side, because one great day does not erase a hard year. ETH is still down more than 60% from its 2025 high near $4,950, and this bounce, however real its drivers, has not yet broken the larger downtrend. The level that changes that conversation is $1,800, the resistance ETH rejected during the selloff, and then the big one at $2,000. Until those fall, this is a strong rally inside a bear market, not a confirmed reversal.
And remember what carried ETH down: it falls harder than Bitcoin when fear returns. If the jobs data disappoints or the Fed walks back the dovish tone, the same beta that powered this 6% jump works in reverse. Enjoy the move; respect the trend.
The levels I’m watching Above: $1,750 first, then the real test at $1,800, and the prize at $2,000, where the recovery becomes undeniable. Below: $1,650 is the first support, then $1,600, the floor that held through the worst of it. As long as ETH holds above $1,650, this breakout attempt stays alive.
Where this leaves us Ethereum at $1,719 is having its best day in months, leading every major coin, and for once the reason is concrete: BlackRock’s staked ETH fund drew $100 million on day one, right into a market with record-low sellable supply and record-high staking. The squeeze we watched build all spring finally met its demand spark, with a dovish Fed and a short squeeze as accelerants.
It is not a confirmed trend change yet, $1,800 and $2,000 stand in the way, and ETH’s high beta cuts both ways. But the thing the bears said would never come, institutional demand returning to Ethereum, just showed up with a nine-figure opening day. Watch $1,800. The quiet story is not quiet anymore.
FAQ What is the Ethereum price today? Ethereum is trading around $1,719 on July 3, 2026, up 6.4% on the day, the strongest performance among major coins, and up nearly 9% on the week.
Why is Ethereum going up today? BlackRock launched a staked Ethereum fund, ETHB, that drew $100 million on its first day, landing in a market with record-low exchange supply. A dovish signal from Fed Chair Warsh, a $281 million short squeeze, and five straight days of Bitcoin ETF inflows added fuel.
What is BlackRock’s ETHB fund? ETHB is BlackRock’s new staked Ethereum fund, which passes Ethereum’s staking yield (roughly 3%) to investors, unlike older ETH ETFs. Its $100 million first-day inflow signals returning institutional demand for Ethereum.
What are the key Ethereum levels to watch? Resistance sits at $1,750, then the key $1,800 level, with $2,000 as the milestone that would confirm a real recovery. Support is $1,650, then $1,600. Holding above $1,650 keeps the breakout attempt alive.
Is the Ethereum recovery confirmed? Not yet. ETH remains down over 60% from its 2025 high, and the larger downtrend holds until $1,800 and then $2,000 are reclaimed. The rally has concrete drivers, but ETH’s high beta means it would fall hard again if the macro mood reverses.
This is not investment advice. Cryptocurrency is highly volatile. Always do your own research.
Ethereum News: Grayscale’s Ethereum Staking ETF Just Had Its CFO Resign
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Ethereum News: Grayscale Investments filed a Form 8-K for its Grayscale Ethereum Staking Mini ETF on July 2, 2026, disclosing the departure of CFO Edward McGee after seven years and his replacement by co-CFOs Kathryn Masci and Daniel Plourde on an interim basis, a governance shift at one of the most structurally sophisticated crypto ETF products currently listed in the U.S. market.
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Ethereum News: What the 8-K Actually Says, and What It Doesn’tThe 8-K filed with the SEC falls under the category covering departures, elections, and appointments of directors or certain officers, along with compensatory arrangements.
That category requires disclosure of the event but does not mandate full detail on circumstances, severance terms, or strategic rationale in the initial filing itself.
Kathryn Masci signed the filing as Co-Chief Financial Officer and Principal Financial and Accounting Officer of Grayscale Investments Sponsors, LLC.
Source: SEC FilingHer background runs through Ernst & Young and Garrison Capital before she joined Grayscale in May 2020. Daniel Plourde, the second interim co-CFO, brings institutional ETF operations experience from SPDR ETF Trusts at State Street and Gabelli Funds – a combination that reads more like deliberate succession planning than an emergency scramble.
The structural significance of this governance event is modest in isolation. McGee’s exit does not appear to implicate fund strategy, staking policy, or custody operations.
What it does add to is a pattern of active corporate housekeeping at the sponsor level throughout 2025 and 2026, including the creation of a new Board of Managers for the Sponsor on May 4, 2026 – a context that makes the July filing look like a continuation of planned restructuring rather than a reactive disclosure.
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The Fund Itself: Numbers That Matter More Than the FilingThe leadership change is the headline event, but the operational data behind the spot Ethereum ETF is where the real story sits.
The fund held over 861,000 Ethereum as of Q1 2026, up from roughly 734,000 ETH at the start of the year, net creations of approximately 218,500 ETH during the quarter, which translated to around $337 million in net inflows and ranked the fund as the top U.S. Ethereum ETP by Q1 inflows as reported by most news.
Source: BitboThe staking yield mechanics are straightforward but worth quantifying precisely. Approximately 67% of the fund’s ETH is actively staked on Ethereum’s proof-of-stake network, generating a gross staking reward rate of approximately 2.88% annualized – the trailing 60-day figure Grayscale cited in January 2026.
Q1 2026 staking income came in at $8.38 million, with net investment income of $7.41 million after the fund’s 0.15% management fee. Total staking rewards generated since October 2025 have crossed $15 million.
That 2.88% gross yield against a 0.15% fee is a genuinely competitive structure. Non-staking spot ETH products capture price exposure only; holders of those funds absorb the fee drag without the partial offset that staking rewards provide.
The question for competing issuers is whether regulatory clarity on staking in registered fund structures,still evolving as of mid-2026, will allow them to match this product’s architecture or whether Grayscale’s first-mover position in staked Ethereum ETPs hardens further.
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As the crypto market begins to see a rapid shift in investor behavior and momentum appears to be building again, Ethereum withdrawal transactions on Binance are beginning to retest record levels.
According to the latest data provided by crypto analytics platform CryptoQuant, Ethereum withdrawal transactions on Binance have surged to their highest level in more than three years.
166,000 ETH exit Binance in 24 hoursFollowing the surge in Ethereum withdrawal activity seen on the leading crypto exchange, the data further showed that Binance recorded over 166,000 ETH withdrawal activity in a single day.
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Apparently, this marks the strongest single-day withdrawal activity the exchange has seen since March 2023, signaling a sudden surge in interest among investors.
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The sharp surge in Ethereum withdrawals on Binance has sparked discussions across the crypto community amid rising curiosity about the sudden shift in investor sentiment.
While the surge happened around the $1,500 price level, analysts have predicted that investors may have considered the level as an attractive entry point, causing them to aggressively accumulate the asset at this level.
Ethereum down 67% from 2025 peakFurthermore, the surge in Ethereum withdrawals on Binance arrived at a time when Ethereum is attempting to recover after suffering a prolonged market correction.
Prior to the sudden rise in Ethereum withdrawals, the asset continued to face consistent price declines since its previous peak in early 2025.
Over this period, Ethereum has fallen by about 67%, a decline estimated to be about 15% deeper than Bitcoin's decline during the same period.
However, the past two days have seen Ethereum show signs of recovery, rebounding to above $1,700 after posting a notable increase of about 10% within just 48 hours.
July has begun on a bullish note for Ethereum price as it has finally shown signs of a relief rally after weeks of heavy selling. ETH has jumped more than 5% in the past 24 hours to trade above $1,728, extending its weekly gain to nearly 12%. The recovery comes as U.S. spot Ethereum ETFs recorded inflows for the second straight day, improving investor sentiment.
Well-known crypto chart analyst Ali Martinez believes that buying activity could help Ethereum rally towards its previous all-time high.
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Binance Records Highest Ethereum Withdrawals in Three YearsAccording to CryptoQuant analyst Darkfost, Ethereum withdrawal transactions on Binance have surged to their highest level in more than three years. The exchange processed over 166,000 ETH withdrawal transactions in a single day, a level not seen since March 2023.
Such a large spike usually means investors are moving ETH off exchanges instead of preparing to sell.
Darkfost believes much of this activity could represent long-term accumulation around the $1,500-$1,700 area. Some investors may also be moving funds into DeFi platforms to earn yield rather than leaving coins on exchanges.
He also noted that part of the spike may have been driven by confusion surrounding Europe’s MiCA regulations, as some users wrongly believed exchange withdrawals would be restricted after July 1.
Even so, the overall withdrawal volume remains unusually high, suggesting genuine buying interest is returning.
Also Read : Tom Lee Explains Why Ethereum’s Price Crash Is Not a Bearish Signal
Ethereum ETF See Continue InflowInstitutional investors are also becoming more active again. After several sessions of outflows, U.S. spot Ethereum ETFs have now recorded inflows for two consecutive trading days, attracting $14.8 million, followed by $29 million.
Leading the outflow charge is BlackRock (ETHA), which led both sessions with $36.6 million and $29.7 million in inflows, showing institutional confidence is gradually improving despite continued Grayscale outflows.
Ethereum Is Flashing a Rare Monthly Buy SignalAdding to the bullish outlook, crypto analyst Ali Martinez says Ethereum has printed a monthly TD Sequential buy signal, an indicator that has historically appeared near major market bottoms.
His monthly chart shows Ethereum trading near the lower boundary of its long-term price channel, an area that has repeatedly attracted buyers during previous market cycles.
During the last major monthly buy signal, Ethereum went on to rally roughly 236%. Another similar setup later produced a gain of around 182% before reaching cycle highs.
Based on that long-term structure, Martinez believes Ethereum is once again approaching a high-value accumulation zone.
If buyers continue defending current support, the first major upside target sits near $3,000, which marks the middle of the long-term channel. A full recovery toward the upper boundary would place Ethereum close to $5,000, matching previous cycle highs.
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Crypto ETF flows are starting to tell a more complicated story than simple risk-on or risk-off. Bitcoin funds have seen pressure, while Ethereum products are still pulling in demand, giving traders a cleaner view of where institutional appetite may be shifting.
Data tracked by Farside Investors showed U.S. spot Bitcoin ETFs posting a daily outflow of $294.62 million on July 1. At the same time, Ethereum products remained a bright spot, keeping the focus on whether allocators are rotating inside crypto rather than walking away from the asset class entirely.
For more details, visit the official Farside platform.
TL;DR U.S. spot Bitcoin ETFs recorded $294.62 million in daily outflows on July 1, according to Farside data.Ethereum ETF flows showed a more resilient picture.The split suggests investors may be rotating between crypto exposures rather than simply exiting the market. Bitcoin Funds Lose Ground Bitcoin ETFs have become one of the cleanest institutional sentiment gauges in crypto. When flows are steady, they can absorb spot-market weakness. When outflows accelerate, they can add pressure to an already nervous market.
The latest Farside figures put that pressure back in focus. A near-$300 million daily outflow is not automatically a trend by itself, but it does show that investors are not treating Bitcoin exposure as a one-way trade. After the huge success of spot Bitcoin ETFs, even short bursts of redemption activity now matter for market psychology.
Ethereum’s Different Signal Ethereum’s side of the ledger is more interesting because it stops the story becoming a simple crypto-exodus narrative. When Bitcoin funds lose capital while Ethereum products attract or hold demand, it suggests allocators are making more targeted decisions.
That distinction matters for traders watching BTC dominance, ETH/BTC, and broader altcoin appetite. If ETF flows continue to diverge, the market may read it as early evidence of institutional rotation into other crypto exposures. If Bitcoin outflows reverse quickly, this could instead look like a short-term rebalance after a volatile week.
For now, the fund data is giving the market a sharper signal than price alone: crypto demand has not disappeared, but it is becoming more selective.
Not Every Outflow Means Panic ETF flows need context. A single negative day can reflect profit-taking, portfolio rebalancing, tax positioning, or short-term risk reduction. The market tends to overreact when the number is large, but the better question is whether outflows continue across several sessions.
That is where the Ethereum comparison becomes useful. If Bitcoin redemptions appear alongside inflows into other crypto products, it points less toward panic and more toward internal rotation. Institutions may be reducing BTC exposure while adding to assets they see as earlier in their own ETF cycle.
The next few sessions should make the signal clearer. Sustained Bitcoin ETF outflows would pressure the market. A quick reversal would make July 1 look more like a sharp but temporary rebalance.
That is why this story is worth keeping separate from a standard market recap. ETF flows now shape daily crypto liquidity in a way that was not true before spot funds launched. When those flows split by asset, they can reveal changes in institutional conviction before they are obvious on the price chart.
This report is based on ETF flow data from Farside Investors.
This article was written by the News Desk and edited by Samuel Rae.
TLDR:Altcoin Sell Pressure Extends a 15-Month Distribution TrendWhat the Record Volume Gap Means for an Altcoin Recovery Altcoin sell pressure has reached a fresh multi-year low after more than 15 months of persistent net selling across major spot exchanges. The cumulative buy and sell volume difference for altcoins excluding Bitcoin and Ethereum has moved below the five-year extreme recorded in June. The prolonged imbalance indicates broad distribution, with sellers repeatedly overwhelming new demand whenever altcoin prices attempt to recover. A flattening cumulative volume gap could offer the first sign of improvement, but current data does not confirm a wider altcoin market bottom. Altcoin sell pressure has fallen to a fresh multi-year low as sellers maintain control across spot exchanges. CryptoQuant data shows the cumulative buy and sell volume difference dropped below its June extreme. The measure excludes Bitcoin and Ethereum, focusing on the wider altcoin market.
The indicator has stayed negative for more than 15 months. That pattern points to prolonged distribution rather than a brief market correction. Bitcoin traded near $61,600, while Ethereum changed hands around $1,720 as the update emerged. Yet broader altcoin demand still showed little evidence of a sustained recovery.
Altcoin Sell Pressure Extends a 15-Month Distribution Trend The cumulative volume difference measures whether traders aggressively buy or sell altcoins on spot markets. A negative reading means selling volume exceeds buying volume over the measured period.
Altcoin Sell Pressure Broke to a Fresh Multi-Year Low
“The cumulative buy/sell volume diff (alts ex BTC/ETH) hit a 5-year extreme in June. Now it's gone even lower.” – By @IT_Tech_PL pic.twitter.com/od6zSYIaN2
— CryptoQuant.com (@cryptoquant_com) July 3, 2026
The gauge briefly approached a balanced level in early 2025. It then reversed sharply and moved deeper into negative territory. The cumulative gap was near negative $209 billion in June. Other market estimates later showed the deficit approaching negative $240 billion.
The exact figure can vary with timing and exchange coverage. Still, the direction remains clear across the available data. Sellers have repeatedly absorbed buying attempts, while demand has failed to establish a lasting floor.
According to Cryptoquant data, the move is a continued distribution without a visible bottom. The five-year extreme reached in June has now fallen further. This trend does not mean every altcoin has declined together. Several tokens can rally on project-specific catalysts or temporary liquidity shifts. However, isolated gains do not confirm broad altcoin accumulation.
What the Record Volume Gap Means for an Altcoin Recovery A broad altcoin recovery usually needs expanding spot demand across many assets. Current data shows the opposite, with net selling still dominating the market.
The prolonged volume imbalance suggests investors are reducing exposure whenever liquidity improves. That process can limit rallies, as fresh buying meets existing holders seeking exits. It also weakens the case for an immediate altseason led by broad market participation.
The first improvement may not appear as a positive reading. A flattening trend would show that selling pressure is no longer accelerating. Several weeks of rising cumulative volume difference would offer stronger evidence that buyers are returning.
Traders may also watch altcoin market share, stablecoin flows, and Ethereum performance against Bitcoin. Those measures can reveal whether capital is rotating beyond the two largest cryptocurrencies.
Ethereum cryptocurrency can be expected to rise to the next resistance level 1856.00 (target price for the completion of the active minor correction ii and the top of earlier wave 2).
Ethereum reversed from support zone Likely to rise to resistance level 1856.00 Ethereum cryptocurrency continues to rise steadily after the price reversed from the support area located between the key support level 1529.00 (which stopped the previous minor impulse wave 1 at the start of June, as can be seen from the daily Ethereum chart below) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor correction ii – which recently broke the resistance trendline from the start of May
Given the strength of the support level 1529.00 and the predominantly bullish sentiment seen across the crypto markets today, Ethereum cryptocurrency can be expected to rise to the next resistance level 1856.00 (target price for the completion of the active minor correction ii and the top of earlier wave 2).
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About the Author: Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex—broker technology, liquidity, and macro drivers. Karthik’s writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities.
Bitcoin (BTC) maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum (ETH) and Ripple (XRP) are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.
Risk appetite boosts capital inflowsFor several weeks, risk sentiment in the crypto market was subdued, weighed down by macroeconomic headwinds, geopolitical uncertainties, and a dearth of clear catalysts.
However, sentiment is now showing tentative signs of recovery, as evidenced by the Crypto Fear & Greed Index, which ticked up to 21 on Friday from 19 the previous day, still deep in ‘Extreme Fear’ territory. Should this trend persist, we could see further capital inflows as investors gradually regain confidence in risk assets.
Crypto Fear & Greed Index | Source : AlternativeInstitutional investors are making a notable return to Bitcoin, as evidenced by Thursday’s spot BTC Exchange-Traded Fund (ETF) inflows of $221 million, the first significant uptick since mid-June and a clear break from a nine-day stretch of outflows.
SoSoValue data highlight cumulative ETF inflows of $51 billion and average net assets of $74 billion. This resurgence of institutional capital signals growing confidence and is lending crucial support to Bitcoin’s ongoing recovery.
Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs posted a second consecutive day of inflows, with $29 million recorded on Thursday, nearly doubling Wednesday’s $15 million. If sustained, the inflow momentum would back the ongoing recovery and cement investor confidence amid renewed market optimism. Cumulative inflows average $11 billion with net assets under management at $9 billion.
Ethereum ETF flows | Source: SoSoValueUS-listed XRP spot ETFs attracted inflows of nearly $7 million on Thursday, breaking two consecutive days of outflows. Despite withdrawals on Tuesday and Wednesday, cumulative outflows remain steady at $1.48 billion, with net assets under management averaging $988 million.
XRP ETF flows | Source: SoSoValuePrice analysis: Bitcoin buyers tighten grip as recovery gains momentumBitcoin trades at $61,725, extending its rebound for the third consecutive day. Still, the Crypto King sustains a bearish near-term tone as it sits well below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs). The 50-day EMA at roughly $66,025, the 100-day EMA near $69,818 and the 200-day EMA around $75,952 all fan out above spot, suggesting the broader downtrend remains in place despite the recent stabilization.
The Parabolic SAR at about $62,200 also hovers just above price, reinforcing overhead pressure, while the Relative Strength Index (RSI) lingering in the mid-40s hints at only modest, corrective upside momentum rather than a decisive reversal.
BTC/USDT daily chartOn the topside, immediate resistance is defined first by the Parabolic SAR at $62,200, with the 50-day EMA at $66,025 acting as the next significant barrier. Beyond these key barriers, the 100-day EMA at $69,818 and the downward resistance trendline break price near $75,072 converge with the 200-day EMA to create a broader supply zone that would need to be reclaimed to weaken the prevailing bearish structure.
On the flip side, immediate support is highlighted by psychological round-number levels at $60.000 and $58,000, respectively. Trading below this demand range would leave Bitcoin vulnerable to renewed selling toward a new yearly floor.
Altcoins technical outlook: Ethereum and XRP extend modest gainsEthereum edges higher above $1,700, marking three straight days of gains. Momentum has improved as reflected in the RSI, which hovers just above 50 on the daily chart and the Moving Average Convergence Divergence (MACD), with its histogram in positive territory, hinting that selling pressure is easing.
Despite the upswing, the several structural levels cap ETH's upside. Trading below the 50-day, 100-day and 200-day EMAs reinforces a broader downtrend.
ETH/USDT daily chartOn the topside, immediate resistance is seen at the 50-day EMA around $1,808, followed by the descending resistance trendline region referenced near $1,928. Further north, the 100-day EMA at about $1,983 and the 200-day EMA close to $2,271 define a broader supply band that would need to be reclaimed to shift the medium-term tone. Looking down, initial support is provided by the Parabolic SAR around $1,516, where a daily close below would likely reopen the path toward lower lows despite the currently improving momentum backdrop.
XRP trades at $1.10, as bulls tighten their grip. The psychological support at $1.03 allowed buyers to reengage, aligning with the broader crypto market's short-term positive outlook. Momentum is improving, backed by the RSI's recovery toward a neutral 46 on the daily chart and the MACD histogram, which has recently turned slightly positive. Together, both indicators hint at modest upside momentum within a broader downtrend.
XRP/USDT daily chartOn the topside, initial resistance emerges at the 20-day Bollinger middle band around $1.11, followed by the downtrend resistance trendline break area near $1.21 and then the 50-day EMA close to $1.19, forming a dense supply zone before the upper Bollinger band near $1.23. Higher up, the 100-day EMA around $1.29 and the 200-day EMA near $1.51 mark more substantial barriers.
Conversely, the lone nearby structural cushion is the Bollinger lower band, now around $0.99, where buyers could attempt to slow any further decline.
(The technical analysis of this story was written with the help of an AI tool.)
Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
Cryptocurrencies gained ground on Thursday while major stock indexes closed at all-time highs, as softer-than-expected jobs data lowered expectations for a Federal Reserve rate hike.
Crypto Market RalliesBitcoin briefly broke $62,000 but failed to sustain the rally, pulling back to the low $61,000 range. Ethereum experienced a more pronounced rally, breaking through the $1,700 level before consolidating sideways.
Nearly $460 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in short positions, according to Coinglass data
Bitcoin’s open interest rose 1.14% over the last 24 hours to $46.22 billion. Derivatives traders on Binance, including both retail and whale investors, remained net long on the leading cryptocurrency but trimmed their long positions.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Dow Closes At New RecordMajor indexes bounced back on Thursday after a brief pause. The Dow Jones Industrial Average rallied 594.83 points, or 1.14%, to hit a record close of 52,900.07. The S&P 500 eked out a narrow gain to end at 7,483.24, while the tech-focused Nasdaq Composite dropped 0.8% to close at 25,832.67.
U.S. job growth slowed sharply in June, with only 57,000 jobs added, missing economists’ forecast of 110,000 and down from 129,000 in May. The unemployment rate edged down to 4.2%, below the 4.3% consensus.
The CME Group’s FedWatch tool showed markets lowering the likelihood of the Fed keeping the rates unchanged in September to 45% from nearly 50% the day before.
‘Incoming Volatility’Blockchain analytics firm CryptoQuant warned that Bitcoin’s failure to hold $60,000 could trigger accelerated selling, potentially driving the price down toward its realized price of $53,000, which serves as a major support level.
CryptoQuant reported that the average Bitcoin deposit size has doubled from 1 BTC to 2 BTC, signaling increased activity from whales and institutional investors rather than retail participants.
“Whales appear to be leading the move. Incoming volatility,” the firm added.
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that he’s not selling his altcoins and plans to take profits once market excitement around altcoins returns.
“The markets are just waking up and sentiment can change fast,” Van De Poppe said. “There’s no need to be looking to be selling the actual market bottom, as that would be here.”
Photo Courtesy: Marc Bruxelle on Shutterstock.com
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This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH) Ethereum managed to bounce off support at $1,500 and recovered last week’s losses. This is also why it closed the week with an impressive 10% rally, as buyers regained control of price action.
To be confident in a sustained recovery, the price will need to eventually break the current resistance at $1,800. Anything less than that would only be a short relief before sellers return to dominate.
Looking ahead, Ethereum has a real chance here to set a local bottom and attempt a rally. The question is if buyers have the volume and strength to sustain it and break the key resistance in the days and weeks to come.
Source: TradingView Ripple (XRP) This week, buyers managed to defend $1, sending the price 6% higher. However, there is resistance at $1.1, which has managed to hold off the bulls, at least as of this post.
Similarly to Ethereum, XRP needs to make the best of this bounce and turn it into a sustained rally if it wants to break away from its current downtrend. Even if the $1.1 resistance falls, the price still has to claim $1.3 to confirm a breakout.
Looking ahead, the price reaction at $1 was somewhat expected since it’s a key psychological level. If buyers fail to capitalize on this in the coming days and weeks, then sellers will likely return to put pressure again.
Source: TradingView Cardano (ADA) This week, ADA impressed with a 16% bounce after the price briefly fell under the $0.15 support. With the support secured, this cryptocurrency has a good shot at moving higher. However, as of this post, the price formed a lower high.
To be confident in a sustained recovery, Cardano will have to move beyond its previous high of 19 cents. Anything less than that would make this a bearish bounce, eventually leading to ADA falling lower.
Looking ahead, sentiment across the crypto market has improved with the start of July, but the month is only just beginning, and it is too early to say whether the current price action will be sustained. At a macro level, ADA remains bearish.
Source: TradingView Binance Coin (BNB) Compared to the other coins on our list, Binance Coin remained flat this week. This is atypical and rather bearish because the price failed to reclaim its support at $580. Because of that, sellers retain the upper hand and may aim for $500 next.
The $500 support hasn’t been tested yet, but it’s the next major level if bears continue to dominate the chart. Moreover, Binance failed to secure a MICA license in the EU at the start of July, which made it lose a key market to competitors.
Looking ahead, any weakness for Binance, the exchange, will likely translate to its token, BNB. The current chart seems to confirm this, as it remains in a bearish trend with no bounce or recovery in sight.
Source: TradingView Hype (HYPE) HYPE found good support above $60 and bounced by 6% this week. This has placed it in flat price action since early June. This consolidation is also forming a large pennant. Once that is resolved, we will know where this cryptocurrency is headed next.
When a pennant forms, the price tends to respect the underlying trend, which, in this case, is bullish. Therefore, the higher probability is for the price to break away and aim for new highs.
Looking ahead, HYPE will have to secure $68 as a key support and hold above it if it wants to challenge the current all-time high at $77. Anything less than that, or a break below $60, would be a bearish signal with lower lows likely.
Upbit and Bithumb, two of South Korea’s leading cryptocurrency exchanges, announced new trading support for Metaplex (MPLX) and Nexus (NEX). However, following its initial announcement, Upbit stated that it had changed the trading start times for both assets.
Accordingly, the trading start date for Metaplex (MPLX), previously scheduled for July 3, 2026 at 3:00 PM, has been postponed to 7:00 PM, while the start time for Nexus (NEX), previously announced as 6:00 PM, has also been moved to 7:00 PM.
According to Upbit’s announcement, MPLX will be traded on the Solana network for BTC and USDT, while NEX will be traded on the Ethereum network for USDT. Deposits and withdrawals for both assets are planned to open within two hours of the announcement’s release. The exchange also stated that the trading start time may be postponed again if sufficient liquidity is not available.
The new listings will also implement various trading restrictions for users. Accordingly, buy orders will be restricted for approximately 5 minutes after the trade opens. During the same period, sell orders cannot be placed at levels more than 10% below the previous day’s closing price. In addition, all order types except limit orders will be temporarily restricted for the first two hours.
Bithumb also announced on the same day that it would add MPLX and NEX to its South Korean won (KRW) market. According to the exchange, MPLX trading was scheduled to begin at 3:00 PM on July 3rd, and NEX trading at 6:00 PM on the same day. Bithumb shared a reference price of 32.09 won for MPLX and 0.0028 won for NEX.
Metaplex is among the prominent projects offering NFT and token infrastructure within the Solana ecosystem, while Nexus stands out as a layer-1 blockchain project combining verifiable computing infrastructure with financial applications. Following their listings, both assets are expected to be closely watched in the South Korean market.
*This is not investment advice.
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The historic volatility of cryptos once again reminded market operators that short-term certainties do not exist in this universe. This Thursday, July 2, the ecosystem recorded a technical reversal, inflicting dry financial losses on investors positioned short. Indeed, this sudden surge, occurring after several days of bearish pressure, redefines the short-term price dynamics for the main market assets. Understanding the mechanisms of such a purge is essential today, as it illustrates the extreme sensitivity of the crypto market to leverage effects and global macroeconomic indicators.
In brief The crypto market rebound triggered a massive liquidation of short positions, with over 600 million dollars wiped out in just 24 hours. Bitcoin, Ethereum, Solana, and XRP saw a clear rebound, driven by a strong short position coverage movement. The latest US economic indicators, notably the slowdown in employment, revived hopes of a Fed monetary policy easing. Shares of major crypto-related companies, like Strategy, Coinbase and Circle, also benefited from this renewed optimism. Bitcoin: cleaning up short positions in the derivatives market The crypto market rebound, after a violent drop, observed over the last 24 hours, completely caught bearish investors’ strategies off guard, causing major price movements and massive losses on derivatives products :
Bitcoin (BTC) surge : the top market crypto surpassed the $62,000 mark for the first time in over a week, reaching a local high at $62,078 after having plunged below $58,000 earlier in the week (a 21-month low). It then stabilized around $61,650, up 3% on the day and 4% on the week ; The scale of global liquidations : the technical purge totaled $602 million in 24 hours, with short positions representing the majority of the carnage with $400 million in net losses ; The case of Ethereum (ETH) : notably, ETH surpassed bitcoin as the top contributor to forced liquidations with $187 million wiped out by its traders, versus $184 million for BTC, taking its price to $1,701 (nearly 5% increase) ; The performances of Solana (SOL) and XRP : Solana jumped nearly 5% for the day to $81, becoming the biggest weekly gainer in the top 10 with over 22% gain. XRP increased over 3% to trade at $1.09. This exceptionally large technical purge demonstrates how quickly forced liquidations can feed into each other. The simultaneous reversal of major altcoins confirms that the market was trapped by an excessive accumulation of highly leveraged short positions, turning a simple technical resistance into a powerful global short position cover rally.
Macroeconomic catalysts and US employment indicators This bullish turnaround in capital markets stems directly from the latest economic releases and the monetary policy directions in the United States. The rebound began following statements by Federal Reserve Chairman Kevin Warsh, who deliberately maintained ambiguity on the institution’s future intentions. Indeed, investors reacted positively when the leader “declined to say whether the agency planned rate hikes, but later this year”.
Following this intervention, interest rate traders now estimate almost equal probabilities regarding the Fed decision to hold or raise rates at the September meeting. However, they still project a 64% probability that a rate hike will occur by the October FOMC meeting.
The upward movement intensified Thursday after the Bureau of Labor Statistics announced that US employers created only 57,000 jobs in June. This figure was much lower than the initial target of 115,000. Moreover, it is a clear decline compared to the revised 129,000 jobs recorded in May.
This marked slowdown in US employment paradoxically boosted global risky assets in particular bitcoin, easing fears of a prolonged monetary tightening by central bankers. While traditional markets reacted mixedly, with the S&P 500 and Nasdaq closing lower and the Dow Jones remaining in the green, the crypto sphere took advantage of this slowdown to initiate its technical relief rally.
Stock market reaction and the surge of Web3-linked stocks The impact of this price rebound was not limited to retail investor portfolios; it also shook the shares of listed crypto sector companies. Michael Saylor’s Strategy, which remains the world’s largest corporate bitcoin holder, saw its stock appreciate nearly 7% to reach $100.
This recovery is all the more significant because the stock had dropped to nearly $80 the previous week. In the same bullish momentum, the American exchange platform Coinbase’s stock rose 3.35% to $165. Circle, issuer of the USDC stablecoin, completed this positive picture by recording a nearly 5% increase to reach $65, showing strong resilience.
However, the future implications of this global movement invite a nuanced analysis of the market’s macroeconomic structure. While this technical rebound validates cryptos’ immediate responsiveness to Fed signals and illustrates the constant danger of leverage for sellers, the overall trend calls for real ethical caution. Taking the necessary perspective, bitcoin still shows a 16 % decline over the last month and trades approximately 52% below its all-time high near $126,000 set in October 2025.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Ethereum price climbed 6% to $1,713 as the wider crypto market recovered. Bitcoin’s move above $62,000 lifted sentiment across major tokens. Solana, XRP, Cardano, and Dogecoin also gained, adding momentum. Traders now watch whether stronger demand can push ETH toward $2,000 next week amid improving risk appetite and volume signals.
Crypto Market Recovery Fuels Fresh Demand The crypto market rose 2.71% in 24 hours, pushing its value to $2.14 trillion. That action gave traders renewed confidence following a number of poor performances.
Bitcoin price outlook also fluctuated around the level of $62,000, which contributes to the broader recovery. Bitcoin strength, as usual, boosted demand in major altcoins.
Ethereum price rose by almost 10% throughout the week, with more robust short-term momentum. Solana price has also risen 18%, and Cardano and XRP prices rebounded.
Meanwhile, short sellers were under intense pressure as prices were reversed. Short positions were liquidated to the tune of about 281 million in the market.
US Iran Peace Talks Improve Sentiment ETH price was also boosted by the relaxed tensions in the Middle East. It was reported that the US officials suspected that Israel might attack Iranian negotiators.
The suspected targets included Abbas Araghchi and Mohammad Bagher Ghalibaf. The two personalities were associated with delicate negotiations between Iran and Washington.
US officials allegedly warned Iran using regional intermediaries. They feared any strike could end talks and restart the conflict.
But market response is now indicating that traders perceive reduced war risk. The oil prices fell to a 4-month low.
The fact that the oil prices are lower can ease the issue of inflation in all their markets worldwide. Thus, the risk assets tend to appreciate as the energy pressure begins to diminish.
🇺🇸🇮🇷 Tanker traffic through the Strait of Hormuz over the past 24 hours shows a clear split
The majority of vessels using the Iranian route are either headed to, or leaving Iran.
Whilst tankers traveling elsewhere are using the Omani route, which is still being protected by U.S…
— Mario Nawfal (@MarioNawfal) July 3, 2026
Tanker traffic through the Strait of Hormuz still remains below normal. However, markets seem not to be so concerned about the broader war in the region.
This reduced waving contributed to the crypto prices gaining momentum more effectively. Consequently, further peace development would be beneficial to Ethereum price.
ETF Inflows Support Ethereum Price Outlook ETF flows added another reason for a possible Ethereum price rally. Spot Ethereum ETFs had their first inflows since mid-June.
The products had faced a difficult period during June. The net outflows amounted to approximately 529 million during the month.
However, July opened with stronger demand from investors. Spot Ethereum ETFs experienced net inflows of 14.9 million on July 1.
Bitcoin Spot ETFs See $222M Net Inflow After 10-Day Outflow Streak
On July 2 (ET), Bitcoin spot ETFs recorded a total net inflow of $222 million, turning positive after 10 consecutive days of net outflows. Ethereum spot ETFs recorded a total net inflow of $29.08 million. pic.twitter.com/LP3UjuQPJV
— Wu Blockchain (@WuBlockchain) July 3, 2026
The improvement continued on July 2, with another $29.08 million entering Ethereum ETFs. That demonstrated that demand was coming back following weeks of strain.
Spot ETFs that track Bitcoin also became positive following ten consecutive outflow days. They recorded $222 million in net inflows on July 2.
Ethereum Price Analysis: Key Levels To Watch The Ethereum breached the $1,700 mark following consistent purchasing in the short-term market. The shift brought ETH close to one of the resistance points, and now, the next target is $1,800.
The MACD is also bullish, with the blue line on top of the signal line. The histogram remains positive as well, indicating that upward pressure is still active. With this strength, the full ETH forecast report may first test $1,800 before it moves any further toward $2,000.
In the meantime, RSI is close to 71, indicating an overbought region. This reading presents a great momentum.
Source: ETH/USDT 4-hour chart: Tradingview On the downside, $1,700 now serves as the first support level. Any fall below that level might reveal $1,600 once more. With the increased selling, ETH can revisit the $1,560 demand zone before attempting another recovery.
Bitcoin climbed above the $61,000 mark and the recovery was led by macro data, as weaker U.S. jobs numbers increased expectations that the Federal Reserve may shift toward a less restrictive policy stance. The cryptocurrency was trading at $61,739 mark.
In the past 24 hours, Bitcoin was up 2.80% and Ethereum was up 6.24% to trade at $1,716 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano gained upto 6.68%.
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Riya Sehgal, Research Analyst, Delta Exchange said the move is still a relief rally, not a confirmed reversal. For Bitcoin, $62,200 is the first resistance. A sustained move above this level can open room toward $64,000–$65,000.
ETF flows have improved for Bitcoin but remain uneven, while Ethereum ETF flows are largely flat, Sehgal further said. Bitcoin picked up to $62,000 after whales added 270,000 BTC, forcing $130M short losses and the fear and greed index has risen to 22, as the market sentiments improve but still remain under fear, said CoinDCX Research Team.
The global crypto market capitalisation went up 2.64% to $2.13 trillion, according to CoinMarketCap.
In the past week, Bitcoin and Ethereum were up 1.97% and 8.68% respectively. Among the major altcoins, XRP, Solana, Hyperliquid, Dogecoin, and Cardano gained upto 14.91% whereas BNB and Tron were down 1.25% and 1.15% respectively.
CoinSwitch Markets Desk said BTC staged a rebound towards $62K, driven primarily by a short squeeze. However, the broader backdrop remains mixed. Institutional demand remains weak due to persistent ETF outflows, while higher bond yields continue to compete with risk assets.
The next major directional move will likely depend on macroeconomic conditions, institutional flows, and whether BTC can sustain momentum above $62K toward the $65K resistance, CoinSwitch Markets Desk further said.
Here is what other analyst say
Avinash Shekhar, Co-Founder & CEO, Pi42: Bitcoin’s rebound following weaker-than-expected U.S. jobs data underscores how closely crypto markets are tracking macroeconomic expectations. For investors, the conversation is gradually shifting from “how low can prices go” to “when does liquidity begin returning to the market.
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Nischal Shetty, founder, WazirX: Bitcoin recovered above the $60,000 mark as investors responded positively to expectations of a more accommodative monetary policy, while Ethereum ETFs recorded fresh inflows, signalling renewed institutional interest.
Vikram Subburaj, CEO, Giottus: The recovery above $60,000 has helped stabilise market sentiment. This follows this week's decline towards $58,000. However, it is still not enough to confirm a durable trend reversal.
Akshat Siddhant, Lead quant analyst, Mudrex: On-chain data shows Bitcoin exchange inflows have climbed above 50,000 BTC per day, along with Ethereum exchange inflows exceeding 1.25 million ETH. Historically, such spikes in exchange deposits have often been followed by increased volatility, including June’s decline to $58,000.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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The crypto market has staged a tentative recovery, with the broader market climbing 2.2% to $2.12 trillion over the past 24 hours, and Ethereum [ETH] joining the move higher. Ethereum’s market capitalization rose 4% to $203.84 billion during the period, with its price hovering around $1,689. Yet while the tape looks like it has stabilized, the chart structure tells a different story, one that points to a fractal pattern placing the asset at real risk of another decline.
Key Takeaways Ethereum [ETH] climbed alongside a 2.2% broader market recovery to $2.12 trillion, with its own market cap up 4% to $203.84 billion and price near $1,689. A fractal pattern on the ETH chart mirrors two prior setups that both resolved as distribution, each ending in a double-digit percentage drop. Price is consolidating between support and resistance, and a decisive break in either direction will set the next trend. A fresh MACD golden cross points to building buying momentum, though the January 14 to 15 sequence shows momentum alone does not rule out a reversal. A rising Money Flow Index signals renewed capital inflows, leaving the outlook split between the bearish fractal and the bullish indicators. Ethereum’s Fractal Pattern Warns of Another Breakdown The Ethereum chart is printing a clear fractality. That fractal pattern stems from price oscillating between a defined support and resistance line, a hallmark of consolidation where investors are either distributing or accumulating the asset. In Ethereum’s case, the last two instances of this setup resolved as distribution. The asset broke down hard after an extended stretch of trading inside the consolidation range, deepening the losses already on the board.
Source: TradingView A similar outlook is forming now. At the time of writing, and as seen in the area marked with the orange circle, price is carving out the same consolidation pattern. There is no guarantee the phase has run its course, but it raises the question of whether another leg lower is coming. On the previous two occasions this pattern played out, it led to a double-digit percentage loss, with Ethereum first surrendering $3,400 before slipping well below $2,380 and now trading around $1,680.
At press time, candlestick momentum reads positive and price is pushing toward the channel’s resistance. A breakout above that resistance would tilt the outcome bullish, and any follow-through gains could confirm price has entered a bullish phase. A breakdown, by contrast, would raise the odds that the consolidation either extends or resolves lower.
Ethereum Indicators Hint This Rally Could Hold While the fractal pattern warns of a potential decline, Ethereum’s indicators suggest this rally may break the mold. The first clue comes from the Moving Average Convergence Divergence, which has just formed a golden cross. A golden cross prints when the blue MACD line crosses above the orange signal line, signaling that buying momentum is quietly building again. These crossovers often precede major rallies, and in this case one could help power an ETH advance.
Source: TradingView Weighed against prior instances, the January 14 move looks closest to the current formation. Back then the MACD was already bullish, stretching higher with a rising histogram, and price briefly breached the upper resistance. By January 15, though, the asset rolled over into a meltdown, a reminder that momentum alone does not rule out a breakdown. The Money Flow Index adds a more constructive read, pointing to high and rising capital inflows as investors rotate money back into the asset. The MFI is trending firmly upward, a sign of renewed capital and interest in Ethereum.
Conclusion Multiple factors will play a decisive role in swinging Ethereum’s price into its next phase, bullish or bearish, depending on how the current setup resolves. At the time of this analysis, sentiment remains mixed, and it is unclear whether an extended run follows. The fractal pattern’s warning still stands, yet the indicators and capital flows lean the other way, suggesting the market is still leaning bullish.
Frequently Asked Questions (FAQs) What is the fractal pattern warning on Ethereum’s chart?
It is price oscillating between fixed support and resistance, a consolidation phase that resolved as distribution on the last two occasions and preceded sharp declines.
What does the MACD golden cross mean for ETH?
It forms when the MACD line crosses above the signal line, signaling that buying momentum is building. The pattern often precedes a rally, though it can still fail.
Why does the Money Flow Index matter here?
A rising MFI shows capital flowing into the asset, indicating that investors are accumulating and adding weight to the bullish case.
What price levels should traders watch?
The channel’s resistance is the immediate level to watch. A breakout would favor more upside, while a breakdown risks a retest of the $1,700 area and below.
Is Ethereum bullish or bearish right now?
Sentiment is mixed. The fractal pattern warns of downside while indicators and capital flows lean bullish, so a confirmed break of the channel is needed for clarity.
The ENS DAO’s Public Goods Working Group officially closed its doors on July 2, after four and a half years of channeling funds into Ethereum’s open-source infrastructure. Working group lead Simona Pop confirmed the sunsetting in a thread on X, marking the end of one of crypto’s longer-running experiments in decentralized grant-making.
The closure also means the group’s grants platform, builder.ensgrants.xyz, is no longer accepting applications. For builders who had grown accustomed to rolling open grant submissions, the window is now shut.
What the working group actually did The Public Goods Working Group launched in early 2022, not long after ENS completed its high-profile token airdrop and formalized its DAO structure. Its mandate was broad but focused: fund projects that benefited Ethereum and the wider web3 ecosystem without expecting direct financial returns.
Over its lifespan, the PGWG funded initiatives spanning developer tooling, privacy solutions, education programs, policy research, and builder support. The grants model featured small allocations of up to 2 ETH for individual projects alongside larger funding pools. For context, a 300,000 USDC pool was planned for Q3 2024 to support more ambitious grant rounds.
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Pop’s announcement highlighted the group’s achievements without dwelling on why it was being wound down. The tone was celebratory rather than elegiac, framing the closure as a completed mission rather than a failure.
Why it’s happening now The timing is not coincidental. The PGWG’s sunsetting aligns with a broader governance restructuring inside ENS DAO that has been brewing for months.
A proposal surfaced in June 2026 that would empower the ENS Foundation with management of the treasury, grants programs, and long-term strategic planning.
It’s worth remembering where ENS itself came from. The Ethereum Name Service was initially funded by a $1 million public goods grant from the Ethereum Foundation back in 2018. The fact that a project born from public goods funding went on to create its own public goods funding apparatus, which operated for over four years, is a small vindication of the model itself.
What this means for builders and investors For Ethereum developers who relied on PGWG grants, the immediate question is where to go next. If the ENS Foundation absorbs the grants function, the funding may continue under a different structure with different application processes.
The broader Ethereum public goods funding landscape is not exactly barren. Gitcoin, Optimism’s RetroPGF rounds, and various protocol-level grant programs still operate. But the loss of any dedicated funding source matters at the margin, especially for the kinds of unglamorous infrastructure work that rarely attracts venture capital.
From a market perspective, ENS sits in an interesting position. The protocol generates real revenue from domain registrations and renewals, giving it a fundamentally different economic profile than many governance tokens. How the DAO manages its treasury and funds ecosystem development is directly relevant to the token’s long-term value proposition.
The more consequential development is the June proposal to reshape the Foundation’s mandate, which could redefine how ENS allocates resources for years to come. Investors should watch how that proposal progresses through governance and whether tokenholders push back on the scope of authority being transferred.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Crypto markets have had plenty to digest today, and this development adds another layer to the picture. Ethereum Institutional Backers Launch Independent Non-Profit to Target Wall Street Wealth gives NewsBTC readers a clean angle on Ethereum at a point where the market is trying to separate durable signals from short-lived noise.
According to the source material reviewed for this report, the story turns on a few concrete details rather than vague sentiment. That matters because crypto headlines can move quickly, but the pieces that tend to last are the ones backed by filings, official releases, data dashboards, or protocol-level records.
TL;DR
Ethereum co-founder Joseph Lubin, alongside ETH treasury firms BitMine and SharpLink, backed the launch of 'Ethereum Institutional'. The new group is an independent non-profit designed to serve as a 'front door' for Wall Street banks and asset managers on tokenization and stablecoins. This organization aims to take over business development roles from the Ethereum Foundation, which is focusing more on core research. A Fresh Signal For The Market The immediate relevance is that this development fits into one of the market’s main themes for the day: institutional positioning, network usage, regulatory pressure, protocol development, or asset-specific rotation. In this case, the key topic is Ethereum, which is why it deserves a dedicated read rather than being buried inside a broader market recap.
For traders, the useful part is not simply that the headline exists. It is the way the facts line up with the current market backdrop. When official sources, market data, or protocol records show a fresh shift, readers get a better sense of whether the move is just a one-day reaction or part of something more structural.
The Numbers That Matter The core source for this story is prnewswire.com with supporting data from globenewswire.com. That source trail is important because the final article should not rely on discovery-only media links or second-hand summaries.
Ethereum co-founder Joseph Lubin, alongside ETH treasury firms BitMine and SharpLink, backed the launch of 'Ethereum Institutional'.
The new group is an independent non-profit designed to serve as a 'front door' for Wall Street banks and asset managers on tokenization and stablecoins.
This organization aims to take over business development roles from the Ethereum Foundation, which is focusing more on core research.
The numerical claims in the pack were tied back to specific source material before writing. 'July 1, 2026' sourced from Ethereum Institutional official launch release date
The Important Caveat The caution is just as important as the headline. Do not state this is an official Ethereum Foundation spin-off; it is a separate non-profit.
That means the cleaner read is to treat this as a confirmed development with a defined scope, not as proof of a guaranteed price move or a sweeping market shift. In crypto, the difference matters. A verified data point can strengthen a thesis, but it does not remove execution risk, liquidity risk, regulatory uncertainty, or the possibility that traders fade the initial reaction.
For now, the story gives the market another piece of evidence to weigh. If follow-up filings, dashboard updates, protocol records, or official statements confirm further momentum, the angle can develop into something larger. If not, it still stands as a useful snapshot of where activity is concentrating today.
This report is based on information from prnewswire.com and globenewswire.com.
This article was written by the News Desk and edited by Samuel Rae.
Quick OverviewOndo deploys tokenized S&P 500 ETF within U.S. regulatory frameworkMicron stock joins Ondo’s tokenized equity portfolioBroadridge enables shareholder voting for tokenized equity owners Ondo introduces blockchain versions of IVV ETF and Micron stock following SEC guidelines.
Each digital token maintains 1:1 correspondence with traditionally custodied U.S. securities.
Broadridge integration enables proxy voting capabilities for token holders.
Platform leverages Ethereum infrastructure while maintaining regulated asset custody.
Initiative represents significant expansion of Ondo’s U.S. tokenized securities operations.
Ondo has introduced blockchain-based representations of BlackRock’s iShares Core S&P 500 ETF and Micron Technology stock for U.S. investors. The offering operates within a third-party custodial framework outlined by the SEC in January 2026. This development integrates tokenized U.S. securities into established regulatory and market infrastructure.
Ondo deploys tokenized S&P 500 ETF within U.S. regulatory framework Ondo has released an Ethereum-based tokenized product tracking BlackRock’s iShares Core S&P 500 ETF. This offering mirrors IVV, a major exchange-traded fund benchmarked against the S&P 500 index. The actual ETF shares continue residing within conventional U.S. custodial arrangements.
Oasis Pro TA, operating as Ondo’s SEC-registered transfer agent subsidiary, creates the corresponding digital tokens. Every token maintains complete 1:1 correspondence with its underlying ETF shares. Qualified custodians secure the tokens, while traditional financial custodians safeguard the physical securities.
This architecture aligns with the SEC’s January 2026 guidance regarding tokenized securities. That guidance outlined an approach where third parties maintain securities while issuing associated crypto instruments. Ondo applied this regulatory blueprint to deliver an operational U.S. tokenized ETF offering.
Micron stock joins Ondo’s tokenized equity portfolio Ondo has simultaneously introduced a tokenized representation of Micron Technology stock using identical structural principles. Micron shares remain within standard U.S. custody infrastructure. Token holders gain exposure through Ethereum-recorded ownership positions.
The Micron offering advances Ondo’s broader initiative into tokenized equities with full regulatory compliance. This approach eliminates offshore issuance requirements and functions independently of individual issuer sponsorship. Implementation occurs through pre-existing broker-dealer, transfer agent, and custody relationships.
Transfer restrictions operate via participating broker-dealers, custodians, and the transfer agent network. These mechanisms ensure token transactions align with prevailing regulatory standards. Consequently, Ondo bridges blockchain settlement capabilities with traditional U.S. securities frameworks.
Broadridge enables shareholder voting for tokenized equity owners Broadridge facilitates the rollout by delivering governance infrastructure for tokenized equity participants. Token holders gain access to issuer communications and regulatory filings through conventional distribution channels. Additionally, they can exercise voting rights via ProxyVote.com for blockchain-recorded proxy votes.
Ondo indicates token holders obtain shareholder rights and safeguards comparable to traditional brokerage account owners. These privileges encompass issuer notifications and voting participation linked to underlying securities. This configuration strengthens tokenized securities’ integration with public market governance structures.
The initiative also provides context for Ondo’s comprehensive real-world asset approach. Beyond U.S. borders, its Global Markets infrastructure handles over $1 billion in tokenized securities. That platform encompasses more than 430 equities and ETFs across various supported jurisdictions.
Ondo has simultaneously grown through strategic collaborations in recent periods. In June, the company partnered with Exodus to establish Exodus Markets on Solana. This platform provides qualified users with tokenized stock, ETF, and real-world asset access.
This recent product launch positions Ondo more prominently within U.S. tokenization markets. The implementation merges Ethereum-based issuance with conventional custody, voting mechanisms, and compliance frameworks. This integration creates a more defined pathway for tokenized securities under current U.S. market regulations.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
The Ethereum Foundation published a policy guide on July 1, positioning Ethereum as neutral public infrastructure for governments and institutions. The document, prepared by the foundation’s Global Policy Strategy Team, frames Ethereum as a decentralized alternative to the centralized digital systems that many governments currently rely on for payments, identity verification, and record-keeping.
$76 Billion in Staked ETH as a Security Argument The guide cites an OpenZeppelin analysis showing approximately $76 billion in staked ETH securing the Ethereum network as of March 2026.
It would cost roughly $50.7 billion to finalize a fraudulent transaction on the network, excluding automatic slashing penalties, according to a Cryptopolitan report. The foundation contrasts Ethereum’s continuous uptime since its 2015 launch with that of other layer-1 blockchains reviewed in the OpenZeppelin analysis.
Binance Smart Chain, XRP Ledger, Tron, Solana, and Canton each experienced between one and seven outages and had comparatively few economic deterrents to attack, the report found. Ethereum’s validator set is globally distributed across nations and legal systems, with no single country controlling a majority share.
“Ethereum is a decentralized ecosystem that functions through the activity of a large, diverse, and global group of stakeholders,” the guide stated. “That breadth of participation is one of the things that makes Ethereum so secure, which in turn is what makes it the top choice for institutions, enterprises, and the public sector.”
From Investment Asset to Digital Infrastructure Ethereum has historically been discussed as the second-largest cryptocurrency by market capitalization. The foundation is now framing it as foundational digital infrastructure comparable to the internet’s base protocols.
That rebranding could influence how regulators worldwide classify public blockchains and the tokens that operate on them. The guide highlights sovereign governments already using Ethereum-based solutions. Argentina and Bhutan have built decentralized identity systems on the network.
Indian authorities are testing Ethereum-based land registries to reduce property fraud in title transfers. The foundation encourages lawmakers to define a clear distinction between public blockchains open to anyone and those controlled by a single organization or foundation.
Timed With a Foundation Restructuring The policy guide arrives alongside a structural overhaul at the Ethereum Foundation. The organization cut roughly 20% of its workforce and created an “institutional layer” cluster focused specifically on government and enterprise engagement. A separate nonprofit, Ethereum Institutional, also launched this week with backing from key ecosystem participants.
If governments begin adopting Ethereum as public infrastructure, the regulatory clarity it would generate would extend well beyond Ethereum itself. The precedent would shape how all public blockchains are classified, potentially accelerating institutional investment across the broader digital asset market.
The guide cites independent security audits and uptime data while noting that one unnamed layer-1 blockchain had an organization controlling about 42% of the token supply, a trait that institutions would typically need to disclose and mitigate.
The foundation’s next test is whether this guide moves from policy paper to government procurement shortlist, a process that typically takes years rather than months.
This is not just another ticker-level move. It points to a deeper shift in how capital, infrastructure, or regulation is moving through crypto. Ethlabs Launches with Five Former Ethereum Foundation Researchers to Speed Up Settlement gives NewsBTC readers a clean angle on Ethereum at a point where the market is trying to separate durable signals from short-lived noise.
According to the source material reviewed for this report, the story turns on a few concrete details rather than vague sentiment. That matters because crypto headlines can move quickly, but the pieces that tend to last are the ones backed by filings, official releases, data dashboards, or protocol-level records.
TL;DR
Ethlabs has launched, founded by five former senior Ethereum Foundation researchers. The new entity aims to focus on improving transaction settlement speeds and strengthening ETH's monetary value case. The development highlights a shifting structure where specialized research groups take on execution duties. What Changed The immediate relevance is that this development fits into one of the market’s main themes for the day: institutional positioning, network usage, regulatory pressure, protocol development, or asset-specific rotation. In this case, the key topic is Ethereum, which is why it deserves a dedicated read rather than being buried inside a broader market recap.
For traders, the useful part is not simply that the headline exists. It is the way the facts line up with the current market backdrop. When official sources, market data, or protocol records show a fresh shift, readers get a better sense of whether the move is just a one-day reaction or part of something more structural.
Why It Stands Out The core source for this story is ethlabs.org with supporting data from globenewswire.com. That source trail is important because the final article should not rely on discovery-only media links or second-hand summaries.
Ethlabs has launched, founded by five former senior Ethereum Foundation researchers.
The new entity aims to focus on improving transaction settlement speeds and strengthening ETH's monetary value case.
The development highlights a shifting structure where specialized research groups take on execution duties.
The numerical claims in the pack were tied back to specific source material before writing. 'Five former researchers' sourced from Ethlabs official announcement co-founder list; 'June 22, 2026' sourced from Ethlabs official launch release date
What Comes Next The caution is just as important as the headline. Do not claim Ethlabs is funded directly by the EF without verification.
That means the cleaner read is to treat this as a confirmed development with a defined scope, not as proof of a guaranteed price move or a sweeping market shift. In crypto, the difference matters. A verified data point can strengthen a thesis, but it does not remove execution risk, liquidity risk, regulatory uncertainty, or the possibility that traders fade the initial reaction.
For now, the story gives the market another piece of evidence to weigh. If follow-up filings, dashboard updates, protocol records, or official statements confirm further momentum, the angle can develop into something larger. If not, it still stands as a useful snapshot of where activity is concentrating today.
This report is based on information from ethlabs.org and globenewswire.com.
This article was written by the News Desk and edited by Samuel Rae.
Why Does Ondo’s New Launch Matter? Ondo Finance expanded its U.S. tokenized securities business on Thursday with the launch of tokenized versions of BlackRock’s iShares Core S&P 500 ETF and Micron shares under a third-party custodial framework described by the Securities and Exchange Commission in January.
The launch gives Ondo a larger U.S. footprint in the market for tokenized real-world assets, a category that has grown as asset managers, brokers, and blockchain firms test ways to move conventional financial products onto public networks without moving outside existing securities rules.
According to Ondo, the products mark the first time a third party has tokenized U.S.-listed securities on a public blockchain while operating within the existing U.S. regulatory and market infrastructure. The company said earlier tokenized securities models were generally built offshore or relied on issuer-by-issuer sponsorship.
The distinction is important. Tokenized stocks and ETFs have often been treated as a regulatory gray area when they sit outside the U.S. framework or rely on synthetic structures. Ondo is trying to place the product inside the conventional custody and transfer-agent model while using blockchain rails for token issuance and ownership records.
How Does The Custodial Model Work? The SEC’s January guidance described a structure in which a third party holds the underlying securities and issues crypto assets representing an investor’s entitlement to those holdings. Ondo said its tokenized IVV and Micron products are built around that model.
Under the structure, the underlying shares remain inside the standard U.S. custody chain. Oasis Pro TA, Ondo’s SEC-registered transfer agent subsidiary, mints corresponding tokens backed 1:1 by the securities. The tokens are issued on Ethereum and held by regulated custodians, according to the company.
That design keeps the legal and custody layer close to existing market plumbing. Investors are not simply receiving an offshore token that tracks a stock price. They are receiving a blockchain-based representation tied to securities held through regulated infrastructure.
Ondo said token holders receive the same shareholder rights and protections available through traditional brokerage accounts, including issuer communications and onchain proxy voting through Broadridge’s ProxyVote.com platform. Transfer restrictions are handled by participating broker-dealers, transfer agents, and custodians in line with existing regulatory requirements.
Investor Takeaway Ondo’s launch is not only a product rollout. It is a test of whether tokenized equities can be structured inside U.S. custody, transfer-agent, and shareholder-rights systems instead of relying on offshore wrappers or looser synthetic exposure.
Why Are IVV and Micron Useful Test Assets? The choice of BlackRock’s IVV ETF and Micron shares gives Ondo 2 different use cases. IVV is a broad-market ETF tied to the S&P 500, making it a natural test for tokenized exposure to diversified U.S. equity markets. Micron offers a single-stock example in a sector closely watched by investors because of artificial intelligence, memory chips, and semiconductor cycle exposure.
By launching both an ETF and an individual stock, Ondo can show how the same infrastructure may apply across different types of listed securities. That matters for brokers and custodians because tokenized securities will need consistent controls around eligibility, settlement, shareholder communications, restrictions, and corporate actions.
The structure also gives institutional users a clearer framework for assessing risk. A 1:1 backing model tied to conventional custody may be easier to review than offshore tokenized stock products, especially for firms that need to document custody treatment, investor rights, and regulatory controls before offering access to clients.
“Today’s milestone shows we can tokenize securities in ways that meet both market and regulatory requirements, for U.S. and global investors and provides a strong foundation for our expanding access to onchain investments for more U.S. investors,” Ondo Finance CEO Ian De Bode said.
What Does This Mean For Tokenized Equities? Ondo’s launch comes as tokenized equities are becoming a larger part of the real-world asset market. The company’s Global Markets platform outside the U.S. supports more than $1 billion in tokenized securities across more than 430 stocks and ETFs, according to Ondo.
The firm has also expanded distribution. In June, Ondo partnered with Exodus to launch Exodus Markets, giving eligible users access to more than 200 tokenized stocks, ETFs, and real-world assets through the Exodus app on Solana.
The broader tokenized equities sector reached a market capitalization of $5.5 billion as of June 8, up roughly 147% from $2.23 billion at the start of the year. That makes tokenized equities the fourth-largest segment within the real-world asset market.
The next test is whether U.S.-compliant tokenized securities can move beyond pilot-style launches and attract meaningful usage from brokers, advisers, custodians, and institutional investors. The market already has demand for onchain exposure to traditional assets. The harder part is building products that regulators, transfer agents, and market intermediaries can support without weakening investor protections.
Ondo’s launch does not settle every question around tokenized equities. Liquidity, distribution, trading access, tax treatment, and platform eligibility still matter. But by using a third-party custodial model tied to U.S.-listed securities, the company is pushing tokenized equities closer to regulated market infrastructure rather than treating them as a separate offshore product category.
The Ethereum [ETH] price action was in a longer-term downtrend, but has rallied 8.05% in the past week and 4.9% in the past 24 hours alone. Yet, according to data from Farside Investors, the Ethereum spot ETF flows since June 17, 2026, measured a negative $358.3 million.
These persistent outflows underlined the bearish market sentiment behind the leading crypto altcoin. It has lost two major support levels in 2026: the $3.2k and $2.0k levels.
AMBCrypto reported that Ethereum, trading at $1.5k, witnessed strong bearish positioning, but also warned of a possible short squeeze.
Source: CryptoQuant The taker buy-sell ratio jumped back above 1 in the past couple of days of trading. The metric’s 7-day moving average also rose back above 1. This showed that the recent gains were partially driven by aggressive buyer orders in the perpetual swap markets.
Source: CryptoQuant The Open Interest also picked up slightly. Increased speculative interest and buyer aggression could help drive a short squeeze in the coming days. However, if the Open Interest begins to slow down again, it would indicate the bounce was driven by short positions unwinding rather than sustained demand.
The dilemma for long-term Ethereum investors Source: Glassnode The Ethereum MVRV extreme deviation pricing bands use the all-time MVRV mean and degrees of deviation from it to form bands. These bands act as dynamic support/resistance levels.
Right now, the extreme low of the band, the -1.0σ, or one standard deviation below the mean, at $1,549, was acting as support.
Crypto analyst Ali Martinez pointed out in a post on X that July has kicked off with a buy signal on the monthly timeframe from the TD Sequential indicator.
In September 2022 and March 2025, when the same monthly buy signal flashed, Ethereum rallied 235% and 182%, respectively.
The ETF flows and wider market sentiment did not make it seem like a major market bottom was forming. Only time will confirm whether a deeper drawdown is lying in wait.
Final Summary The increased Ethereum taker buy ratio in perpetual markets and Open Interest signaled increased short-term speculative interest. ETH’s spot ETF flows were negative over the past two weeks, underlining weak investor conviction.
The firm used the SEC’s January custodial model to put a BlackRock S&P 500 ETF and Micron shares on Ethereum, though the tokens are not yet available to US investors.
Posted July 2, 2026 at 8:12 pm EST.
Ondo Finance on Thursday launched what it billed as the first live tokenized U.S. securities operating entirely within the country’s existing regulatory perimeter, putting BlackRock’s iShares Core S&P 500 ETF and Micron shares onchain on Ethereum.
Tokenized versions of American stocks have circulated for a while, but they have typically traded offshore or leaned on the security’s own issuer to sponsor the token, leaving compliant U.S. products thin on the ground. Ondo instead follows a custodial model the SEC laid out in a January statement: a regulated third party holds the underlying shares in the traditional U.S. custody chain, while a registered transfer agent issues blockchain tokens representing a holder’s entitlement to them.
Ondo mints those tokens through Oasis Pro TA, an SEC-registered transfer agent and Ondo subsidiary, backing each one-for-one with the custodied securities. Its partner Broadridge Financial Solutions supplies proxy voting, issuer communications, and regulatory disclosures, so holders get governance rights rather than bare price exposure.
Ian De Bode, CEO of Ondo Finance, said in the announcement: “Tokenized Securities in the U.S. are too often framed as a binary choice between competing models and tokenization providers. This is a false premise. Ondo has built the regulatory, product, and service infrastructure to support all major models within the United States.”
One notable limit sits under the milestone: the product is not yet available to U.S. investors, despite being built around the U.S. framework.
Ondo already runs one of the larger tokenization operations outside the country. Its Ondo Global Markets platform holds more than $1 billion in tokenized stocks and ETFs across 430-plus securities and recently expanded to BNB Chain for non-U.S. users. Separately, the SEC earlier dropped a Biden-era investigation into the firm.
Doug DeSchutter, president of Broadridge’s Investor Communication Solutions business, said in the announcement: “Tokenization will only scale when it delivers both innovation and investor confidence.”
Related Listen: Why Authorities Can’t Freeze Crypto Fast Enough: DEX in the City
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Since falling to $1,510, Ethereum has traded within a narrow range. Over the past week, the altcoin has hovered around $1,600.
At the time of writing, Ethereum [ETH] traded at $1,622, up 2.8% over the past 24 hours. The muted price action prompted some investors to reduce exposure, while others waited for a clearer trend.
Why did an Ethereum whale move $26 million? Ethereum has barely moved over the past week, leaving whales that accumulated in May and June sitting on unrealized losses.
As market weakness persisted, some investors became more cautious. One example was Satofashi [Chun Wang], who accumulated 91,945 ETH worth $159.9 million during late May and June.
Source: Arkham When Satofashi accumulated ETH, the asset traded around $2,100, with an average purchase price of $1,749.
According to Lookonchain, the whale later deposited 16,842 ETH worth $26.87 million.
A transfer to an exchange does not necessarily indicate an imminent sale. The funds could also be used for collateral or capital rotation.
If the holdings were sold, the whale would realize a loss of about $2.66 million. However, most of the wallet’s ETH remained untouched, suggesting repositioning rather than a full exit.
Source: CryptoQuant That move coincided with broader exchange inflows.
According to CryptoQuant, Exchange Netflow remained positive over the past two days. At press time, Exchange Netflow stood at 14,000, indicating more ETH moved onto exchanges than left them.
Is ETH finding stability, though? Despite persistent market weakness, Ethereum continued holding around the $1,600 level. Notably, the reported whale transfer had little immediate impact on price.
Meanwhile, the MACD remained below zero but formed a bullish crossover, rising to -64.
Source: TradingView The improving MACD suggested bearish momentum continued easing. The BvB indicator also turned positive for two consecutive days after remaining negative for seven straight sessions.
Together, those indicators pointed to gradually improving momentum rather than a confirmed bullish reversal.
If that trend continues, Ethereum could extend its recovery toward $1,777.
Even so, sustained exchange inflows, particularly from large holders, could increase selling pressure and expose the $1,500 support again.
Final Summary A $26.87 million whale transfer failed to trigger immediate weakness in Ethereum’s price. Improving momentum indicators contrasted with rising exchange inflows, leaving ETH at a key decision point.
Bitcoin held above the $61,000 level on Thursday as investor sentiment improved following a more dovish tone from the Federal Reserve that eased pressure on risk assets.
Notable Statistics:
Coinglass data shows 131,062 traders were liquidated in the past 24 hours for $598.92 million. SoSoValue data shows net outflows of $294.6 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $14.9 million. In the past 24 hours, top gainers include MemeCore, Uniswap and Lighter. Notable Developments:
Trader Notes:
Bitcoin OG Lucky noted Bitcoin is staging a strong recovery toward a key breakout level, with elevated leverage adding to market risk. Analysts say the next move could be decisive if BTC sustains its current momentum.
Trader Jelle highlighted Bitcoin bulls are defending key support, with a three-day bullish divergence helping price rebound toward the previous trading range.
Analysts say a move back above $65,000 would strengthen the near-term outlook, while gradual accumulation remains the preferred strategy.
CryptosBatman pointed out Bitcoin flashing a bullish divergence, with price making lower lows while the RSI posting higher lows. Analysts say BTC is now testing its 100-day EMA, a key technical level that could determine whether the next major move is a breakout or another rejection.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
The working group's final term committed $450,000 in USDC and 72.5 ETH to Ethereum infrastructure projects including Vyper, Argot Collective and Remix Labs before it was wound down.
The ENS DAO Public Goods Working Group has been sunset after four and a half years of funding Ethereum infrastructure, working group lead Simona Pop said on X Thursday morning.
The group's final term committed $450,000 in USDC and 72.5 ETH, worth roughly $123,000 at current prices, across Builder Grants, Strategic Grants and advocacy work, according to Pop and the working group's term 6 report posted to the ENS governance forum. Strategic Grants alone totaled $375,000 USDC in the term, co-funded with the Ethereum Foundation at roughly a 1-to-1.2 ratio.
Recipients included Vyper, the alternate smart-contract language whose deployments secure $2.3 billion in TVL across 23 chains, Argot Collective, the group of 25 former Ethereum Foundation employees now independently maintaining Solidity and Sourcify, and Remix Labs, the team behind the Remix IDE used to deploy more than 12 million contracts.
Pop credited BuidlGuidl founder Austin Griffith with building the rolling, milestone-based platform that let Builder Grants run continuously rather than in seasonal rounds. She framed the closure against ENS's own origin: ENS founder Nick Johnson secured a $1 million grant from the Ethereum Foundation in 2018 to build what became ENS, work that spun out into True Names Ltd.
Pop argued the DAO is walking away from a larger opportunity. ENS holds one of the largest treasuries in crypto and was positioned to become one of the ecosystem's "other heroes," a term Ethereum co-founder Vitalik Buterin has used, she wrote.
The sunset lands amid a broader restructuring of ENS DAO's governance and treasury. The DAO recently opened a temp-check vote on handing treasury and day-to-day authority to the ENS Foundation, following delegate disputes over a separate foundation proposal and a push to dissolve the DAO after Johnson blocked a security council renewal.
No new funding round has been announced to replace the working group's grants pipeline.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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