Ethereum has secured $219 billion in onchain capital, making it the most capitalized blockchain network, outpacing rivals such as Solana, Tron, and Avalanche.
Most of Ethereum’s secured capital comes from stablecoins. Over $135 billion of the $219 billion consists of stablecoins issued by entities like Tether (USDT), Circle (USDC), and WLFI (USD1). By comparison, Tron holds around $75 billion in stablecoins, while Solana manages only $12 billion.
Ethereum continues to dominate decentralized applications and tokenized assets. Non-fungible tokens (NFTs), DeFi projects, and staking activity have helped the network lock over $61 billion in total value, according to DeFiLlama data.
Ethereum also leads crosschain liquidity, with more value flowing into its DeFi bridges than any other blockchain. Solana, while growing, holds about $25 billion in capital across its applications—still far behind Ethereum but ahead of Avalanche (AVAX), Sui (SUI), and Near (NEAR).
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Exchange Balances Fall to Multi-Year Low
Ethereum’s exchange balances have dropped to their lowest levels in seven years. This trend suggests investors are withdrawing ETH for long-term holding, possibly due to growing institutional interest.
For instance, BTCS recently acquired 1,000 ETH to expand its holdings. Meanwhile, Sharplink Gaming has announced plans to create an Ethereum Reserve Treasury backed by $425 million in private funds.
These developments come as Ethereum’s co-founder, Vitalik Buterin, laid out plans to scale the network’s base layer tenfold within a year. This upgrade aims to improve transaction capacity and network efficiency.
ETH Price Breaks Resistance After Long Consolidation
ETH to USDT currently stands around $2,611, with a slight increase of 1% over the past day.
After weeks of sideways and downward pressure, the token has broken out of a falling wedge pattern on the 4-hour chart. The price surged from a support zone near $2,464 and closed above $2,600, crossing a key trendline resistance. This move was backed by a sharp increase in trading volume, suggesting strong buyer interest.
Fib retracement levels drawn from the $2,789 high to the $2,464 low indicate that ETH is now testing the 38.2% level near $2,585 and may soon challenge the 50% retracement near $2,625.
A successful move above this level could open the path to $2,665 and $2,719, the 61.8% and 78.6% retracement levels, respectively. The 1.618 Fibonacci extension points to a possible longer-term target of $2,989.
The relative strength index (RSI) has climbed to 59. This indicates growing strength in the market, but it hasn’t reached overbought territory yet, so there could still be room for more upside.
