Key Takeaways:
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The ETH holds $ 2,400 in support despite a 15% price collapse and $ 277 million in liquidations.
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Layer-2 network growth and spot ETH ETF inflows maintain the confidence of Ether investors.
Ether (Eth) Failed to maintain the bullish momentum that sank at $ 2,880 on Wednesday, even though it also showed a stability near the level of $ 2,450. While investors are not particularly pleased with the current price, the metrics of derivatives point to a growing sense of confidence.
On Friday, the Ether Futures Premium briefly became a bearish as the ETH price dropped 15% to $ 2,440, wiping $ 277 million in long positions in two days. However, on Sunday, the Futures Premium was to reclaim the neutral 5% threshold, suggesting that traders again gained confidence in the $ 2,400 support level.
Ethereum Layer-2 Ecosystem Surge
The recent climb to the Ethereum layer-2 scaling solution is likely to contribute to Ether’s rally in early May. It coincides with the Solana and BNB chain that reached Ethereum in decentralized exchange (DEX) trading volumes. The combined activity at the base, arbitrum, unichain, and polygon exceeds the $ 65.5 billion of Ethereum in the monthly DEX volume.
Many ether holders failed through the continuous low fee in the base layer of Ethereum, a major factor behind the growth of the ETH supply. On the other hand, rollups enable measured solutions, opening new possibilities. For example, the largest decentralized application of the base, Morpho, supports custom infrastructure for the use of cases such as collateralized lending and the produce of the generation.
On June 12, Shopify launched a limited USDC -collouting Stablecoin payments In Base blockchain. The product includes a 1% cashback incentive and is expected to be fully launched by the end of 2025. This cooperation with Coinbase outlines the low cost, safe nature of the base of the Blockchain of Layer-2.
Ether derivatives markets show stability amidst the weakness of the ETH price
ETH market options offer additional emotional views to professional entrepreneurs following the fall below $ 2,500 on Tuesday. In a neutral environment, 25% Delta skew usually changes between the negative 5% and +5%, reflecting the balanced pricing between put (sell) and call options (buy).
Currently, ETH placement options trade in a 4% discount compared to the corresponding call options, keeping them within the neutral range. This indicates that, despite failing with the ETH maintaining the level of $ 2,500, whales and Market makers It has never been a bearish. Part of that optimism can come from $ 830 million to Net inflows to the ether listed in the US listed in funds exchanged by the exchange (ETF).
Refusing ethical balances to exchanges are usually viewed as bullish, as deposits indicate a readiness to sell, while backwards are usually signals Staking or long -term handling, reducing immediate supply pressure.
On June 17, the total ether’s balance in exchanges dropped to 16.31 million ETHs, down from 16.71 million a month before. It aligns with the total amount that Ethereum locked (TVL), which rose by 6% at the same time to $ 67.2 billion, according to Defillama.
Related: Blackrock is pushing $ 412m Bitcoin ETF inflows amid Israeli-Iran
Ultimately, Ether’s trajectory is increasingly influenced by the rise of geopolitical tensions in the Middle East and the ongoing trade dispute between the United States and the major economic partners.
While entrepreneurs do not expect ETH to revisit $ 3,000 in the near term, the strength of Derivatives markets suggests that the $ 2,400 support level can continue to handle.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
