Ethereum News Today: Ethereum Gains 19.7% This Week Despite Weekend Dip

Ethereum concluded the week with a notable 19.7% gain, reaching a peak price of $3,671.63. However, this upward momentum was briefly interrupted on Friday, as the price of ETH dipped by 1.26% to approximately $3,565. This minor decline is likely attributed to profit-taking activities ahead of the weekend.

Despite this short-term pullback, Ethereum remains in a strong uptrend, both technically and fundamentally. The cryptocurrency has shown consistent strength over the past week, with a low of $2,985 and a sustained move above $3,500.

SharpLink Gaming, a prominent player in the gaming industry, made a significant move during this price dip. The firm acquired 4,904 ETH, valued at $17.45 million, from Coinbase Prime. This purchase underscores the continued institutional confidence in Ethereum’s potential for growth, even in the face of near-term price fluctuations.

Institutional interest in Ethereum extends beyond direct purchases. Ethereum ETFs experienced substantial inflows this week, totaling 193,551 ETH or $697.17 million. BlackRock led the way with a purchase of 158,875 ETH for its iShares Ethereum Trust. Other major players, including Fidelity, Bitwise, and Grayscale, also recorded significant inflows, pushing total ETF holdings past 5 million ETH.

This ETF activity aligns with historical trends, where Ethereum has shown seasonal strength in the second and third quarters. During Q3, Ethereum has historically outperformed Bitcoin, with average returns of +44.76% compared to Bitcoin’s +12.06%.

Ethereum’s dominance in the decentralized finance (DeFi) space is further reinforced by its position on Aave, where it holds $48.9 billion in total value locked. This places Ethereum far ahead of other chains such as Arbitrum, Avalanche, and Base, solidifying its central role in the DeFi ecosystem.

Despite recent outflows from HTX to Binance, the overall trend remains bullish, driven by strategic accumulation and institutional investment. As Ethereum’s price consolidates below resistance levels, the weekend pullback could set the stage for its next upward move, supported by positive flows and resilient fundamentals.