Institutional adoption of Ethereum surges with spot ETH ETFs driving inflows, as TVL hits $74.4B and daily active addresses climb, pushing ETH back above $3,000.
Ethereum ($ETH) rebounded, breaking through the $3,000 psychological level as it climbed about 2.13% in the past 24 hours to currently trade at $3,028. This marks a 19% increase over the past week, as the trading volume of $ETH remains well above $30 billion, reflecting a wave of optimism across the crypto market.
Market sentiment is firmly in greed territory, reflecting bullish investor psychology.
Ethereum ($ETH) continues to solidify its dominance in the decentralized finance space with $74.4 billion in total value locked (TVL) on DeFiLlama. This demonstrates sustained demand for on-chain lending, staking, and trading activities on the premier smart contract network.
Meanwhile, daily active ERC-20 addresses are at 414,706, reflecting strong user engagement across Layer-1 and Layer-2 solutions.
As of July 12, 2025, Ethereum’s 327.97 million unique wallets marked a 20% year-over-year increase. The creation of new wallets is seen as a sign of growing interest by traders and developers alike.
Decentralized exchanges also processed $1.71 billion in 24-hour volume, while protocol revenues topped $2.11 million, showing strong market participation.
Following the SEC approving options trading on spot ETFs in April to enhance trading flexibility, corporate balance sheets are now bulking up on $ETH.
Nasdaq-listed SharpLink Gaming has overtaken the Ethereum Foundation by amassing 270,000 $ETH, driving $81.8 million in unrealized gains
Market sentiment remains bullish, with the recent hold above $3,000 echoing expectations of further inflows and balance sheet additions from corporate bodies.
Ethereum ($ETH) is trading around $3,028 following a breakout from a bullish pennant structure earlier in the week.
The pattern had formed over several days of consolidation, with price coiling between converging trendlines before making a clean move above $3,030. The breakout, however, has not yet accelerated into a sustained rally. Instead, $ETH is consolidating just below the breakout zone.
The recent pullback is relatively shallow. RSI sits near 54, indicating a neutral stance with no immediate signs of overbought or oversold conditions. MACD remains above the signal line, although momentum is beginning to flatten. These indicators collectively point to a market in wait-and-see mode.
Volume footprint data on the $ETH futures contract reveals a shift in order flow. Initially, buy imbalances were dominant, particularly at $3,085 and $3,092.
Later on, especially in the most recent candles, sell-side aggression returned. Large negative deltas, especially near $3,076, suggest some traders are using the post-breakout range to offload risk or establish new short positions.
Additionally, Ethereum has seen a sharp uptick in speculative activity. CoinGlass data shows volume is up 112% to $99.6 billion, with open interest climbing modestly to $44.6 billion.
Options activity is also elevated, rising 238% to over $2 billion. The 24-hour long/short ratio is balanced at 0.9956, pointing to a lack of directional conviction. However, the positioning of top traders at Binance and OKX still favors longs, with ratios above 2.4.
ETH now sits at a key level. A clean move above $3,100 could reinvigorate bullish momentum and validate the pennant breakout, opening the way to the measured target near $3,250. A drop below the ascending base, on the other hand, may indicate a failed pattern and shift market focus back to $2,880–2,900.
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