How are ETH bulls positioned after Ether’s 17% weekly gain?

Ethereum recently experienced a 14% price increase, surpassing $4,500 for the first time in weeks, driven by institutional accumulation through spot ETFs. However, derivative indicators reveal skepticism about Ether's ability to break the $5,000 mark. Increased competition from platforms like Solana and BNB Chain, which offer lower fees and better user onboarding, has diminished Ethereum's appeal, despite it maintaining a substantial total value locked (TVL) of nearly $100 billion. Network activity has stagnated, with recent reports showing declines in transaction counts and fees. Meanwhile, the Ether options market remains neutral, indicating that traders are cautious. Key growth initiatives, such as the synthetic stablecoin protocol Ethena and lending-focused platforms like Spark, have stood out, though TVL decreases in other areas reflect broader concerns. Future ETH price movements are likely to depend on ongoing accumulation by institutional investors and broader adoption as a reserve asset, as large corporations explore integrating Ether into their balance sheets.

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