The recent price rally of Ethereum shows signs of slowing down despite significant inflows into spot ETFs. This is fueled by rising institutional interest.
Spot Ethereum ETFs and Their Inflows
On July 22, spot Ethereum ETFs recorded a net inflow of $533.87 million, marking the third-largest single-day inflow since their launch. The cumulative inflows have now amounted to $8.32 billion, indicating a growing institutional demand for Ethereum.
Growth of Tokenization and Institutional Interest
Institutions like Franklin Templeton and BlackRock are actively using Ethereum for tokenizing real-world assets. The total value of tokenized assets on the Ethereum platform has exceeded $7 billion, accounting for 54% of the tokenization market. Companies such as BitMine Immersion Technologies and SharpLink Gaming have also started adding Ethereum to their reserves.
Ethereum Price Analysis and Technical Indicators
Despite a 17% increase over the past week and 64% over the month, Ethereum's price has cooled and stabilized around $3,700. The weekly peak was near $3,845, but declining trading volume suggests a slowdown in momentum. Technical analysis shows that Ethereum is trading well above all major moving averages, but short-term indicators suggest it may be moving into overbought territory.
Despite the growth in institutional interest and significant inflows into spot ETFs, Ethereum's price is facing a correction. Current technical indicators suggest that the further movement will depend on whether Ethereum can break key resistance levels.
