ETH Price Gains Driven By ETH Inflows, Network Growth
Ether (ETH) has traded between $2,370 and $2,770 since May 10, with indicators suggesting potential upward movement. Ethereum leads the blockchain space with a total value locked (TVL) of $66.6 billion, holding a 61% market share. Its base layer TVL grew 6% in the past month, while competitors like BNB Chain and Solana saw declines. Ethereum's layer-2 solutions recorded $70 billion in decentralized exchange (DEX) activity, despite high base layer fees affecting DEX volumes. Ethereum remains the only altcoin with approved spot ETFs in the U.S., amassing $837 million in net inflows since May 16. Ether's short-term supply is at a record low, with 28.3% of total supply locked in staking. A breakout above $2,800 is anticipated due to rising demand and favorable on-chain metrics.
