ether
Institutional profits remain strong, with Coinshare reporting $429 million in net inflows into ether investment products over the past week, reporting about $2.9 billion a year. This trend coincides with a decline in ETH supply on the exchange and rising staking levels, with over 35 million ETH (28% of total supply) currently locked in proof contracts. Market analysts suggest that these factors reduce liquid supply and strengthen ether long-term investment papers.
Robinhood announced on Monday that it is developing its own Layer-2 blockchain using Arbitrum’s rollup infrastructure. The network isn’t live yet, but the initiative will ultimately support Ethereum staking, tokenized stock trading, and permanent crypto futures. Although the L2 is in development, the decision to build on Ethereum’s roll-up ecosystem is considered a long-term vote of confidence in Ethereum’s scalability roadmap.
Vitalik Buterin, co-founder of Ethereum, has also introduced a new digital identity framework using zero knowledge proofs. The system allows users to verify their characteristics and credentials without viewing private data, and is designed to help Web3 apps incorporate identity systems that provide privacy. Analysts see this as an important step towards adopting distributed applications that require sensitive user authentication more widely.
Meanwhile, the Ethereum Community Conference (ETHCC) began in Cannes, France, and attracted over 6,400 participants and 500 speakers. The event will showcase Ethereum’s ongoing developer momentum through a presentation on new tools, scaling strategies and protocol improvements.
Despite positive momentum, ETH is slightly below the 200-day moving average, suggesting that technical barriers still exist. However, the confluence of influx, developer advancements, and scaling plans continues to support constructive outlook.
Technical Analysis Highlights
- Ether traded between $2,438.50 and $2,523 from 7pm on June 29th to June 30th, ranging from 3.47%.
- The biggest spike occurred on June 29th at 10:00-10:00 UTC window. This has temporarily pushed the $2,500 barrier, surged by 2.9% at a volume of 368,292 ETH.
- At 15:00 UTC on June 30th, ETH found strong support of about $2,438 on above average volume and confirmed the bullish floor.
- It reached a local high of $2,523 and established resistance above the psychological $2,500 level.
- At the last hour of 18:00 to 18:59 UTC on June 30, ETH closed at $2,487.19 from its daytime peak of $2,499.19.
- A sharp upward movement between 18:20–18:21 brought ETH up 1.6% to 6,318 ETH volume, stalling near $2,499.
- As of 20:23 UTC on June 30th, ETH increased 3.49% in 24 hours at $2,519, signaling a new bullish momentum for the Asian Open.
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