Ethereum Chain Dominates With $516M Net Inflows In 7 Days
Ethereum (ETH) has recently achieved one of its most significant milestones in years, surging past its all-time high of approximately $4,860 on Friday, following a robust bullish rally. The cryptocurrency experienced a remarkable gain of over 13% in a single day, signalling a pivotal market moment and underscoring the enduring strength of Ethereum's rally as it continues to outperform Bitcoin.
Ethereum Netflows Surge Amid Fed Speculation
Ethereum's market leadership has been further solidified by its impressive on-chain activity. Over the past week, Ethereum recorded a staggering net inflow of +$516.4 million, dwarfing all other networks. For comparison, Polygon, the second-largest network, saw only $102.9 million in net inflows during the same period, clearly positioning Ethereum as the premier platform for attracting and retaining liquidity. This surge in capital inflows coincides with recent macroeconomic shifts, notably Federal Reserve Chairman Jerome Powell's remarks at Jackson Hole, hinting at potential interest rate cuts as early as September. These comments have reignited market optimism across both traditional and cryptocurrency sectors, with investors increasingly viewing Ethereum as the primary asset for DeFi, staking, and treasury strategies.
Weekly Price Analysis: Reaching New ATH
Technically, Ethereum (ETH) has moved into unprecedented territory, establishing new all-time highs on the weekly chart. This breakout above its 2021 peak of $4,860 confirms a strong bullish structure, emerging from months of consolidation and recent rapid price appreciation. ETH's weekly close near $4,876 signifies an almost 9% gain for the week, highlighting sustained upward momentum. The cryptocurrency is currently trading significantly above its 50-week ($2,823), 100-week ($2,794), and 200-week ($2,446) moving averages, with shorter-term averages leading longer-term ones, further reinforcing the bullish trend. Momentum indicators suggest buyers remain firmly in control, bolstered by institutional interest and derivatives positioning. With no historical resistance levels above its current price, Ethereum is in a phase of price discovery, where rallies often accelerate. Immediate support is established around the $4,300–$4,200 zone, crucial for bulls to defend against potential corrections. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
