Ethereum is experiencing a tough period with massive ETF outflows and significant whale activity putting pressure on the market.
Ethereum ETF Outflows
According to SoSoValue data, U.S. Ethereum ETFs saw $94.3 million in net outflows on February 26, with BlackRock leading at $69.7 million, followed by Fidelity at $18.3 million and Grayscale at $3 million. The total net outflows have reached $222 million over the past week.
Whale Activity and Market Pressure
ETH has dropped 5% in the last 24 hours, trading at $2,340. CoinGlass reports that 24-hour liquidations totaled $127.93 million. Blockchain analytics firm Lookonchain identified significant transactions including an $19.63 million sale of 8,074 ETH and a $23.44 million deposit of 10,000 ETH to Binance.
Challenges and Support for Ethereum
Amid market uncertainty driven by Trump's tariff announcement and the Bybit hack, Ethereum's future remains uncertain. However, the anticipated SEC approval for Ethereum ETF staking and the Pectra upgrade could provide market support.
Despite current pressure, Ethereum remains an attractive long-term asset. The anticipated network upgrade may draw in new developers and investors.
