- Ethereum price is poised to challenge the range resistance at $2,142 to accelerate the bullish momentum towards higher gains.
- Ethereum recorded the largest increase in net supply of a stablecoin, adding approximately $523 million in the past 24 hours
- BitMine adds 60,976 more $ETH Total token holdings reached 4,534,563 last week $ETH(equivalent to approximately $8.78 billion)
$ETHThe second-largest cryptocurrency by market capitalization rose 4.5% on Monday, regaining the $2,000 mark. Macroeconomic easing led to buying pressure as a sharp reversal in oil prices eased inflation concerns and boosted investor appetite for risk assets. However, the price of Ethereum gained further momentum as blockchain data showed a large influx of stablecoins into the Ethereum network, strengthening OnActivity and DeFi involvement. intention $ETH Do you want to put this recovery on hold?
Ethereum leads stablecoin inflows, adding $523 million in 24 hours
Ethereum led all blockchains in net stablecoin supply growth over the past 24 hours, with approximately $523 million in inflows, according to Artemis analytics data.
This number outpaced networks such as Katana Base, HyperEVM, and BNB Chain, which recorded smaller positive adjustments. Tron experienced a slight uptick, while Mantle and Ripple had limited movement. In contrast, chains such as Plasma and Monad experienced a net decrease, as indicated by the negative bar in the tracking visualization.
The Artemis dashboard shows Ethereum’s overwhelmingly positive bars extending far beyond the rest, reflecting the addition of high concentrations of liquidity to the network. According to DeFiLlama’s broad market figures, the total stablecoin market capitalization is $313 billion, with little fluctuation in the daily numbers and a slight upward trend over the past few weeks (around +1% over the past 7 days).
These chain-specific movements reflect the continued reallocation of stable assets across the ecosystem, with Ethereum expected to see high volumes of trading compared to alternatives. Historically, large-scale stablecoin inflows into Ethereum have been followed by strong on-chain activity, $ETH Price trends.
Additionally, Bitmine Immersion Technologies, a publicly traded company with Tom Lee at the helm, added 60,976 Ethereum tokens in the last week. The acquisition was worth approximately $122.8 million at the prevailing price at the time of acquisition, and increased the company’s total Ethereum positions to 4,534,563. $ETHor approximately $8.78 billion at the time of reporting.
According to company disclosures, 3.04 million of these tokens are still staked, earning ongoing rewards from participating in the network.
Ethereum price challenges major resistance at $2,142
At the time of writing, Ethereum price is trading at $2,011, with an expected intraday increase of 3.67%. The rise indicates a reversal along the way. On the daily chart, it is within a consolidating range.
Since early February, Ethereum price has remained within two horizontal levels, between $2,142 and $1,810, amid widespread market uncertainty. Despite the sideways trend, the momentum indicator RSI has shown an increase to 47%, suggesting that buyers are trying to regain lost ground.
If the price manages to break through the $2,142 overhead barrier, buyers could rally and push the recovery attempt up another 12% to counter the downside resistance, as shown in the chart below.
$ETH/USDT-1d chart
However, if the price fails to sustain above $2,142; $ETH The coin loses its $1,810 floor and a general correction could extend to $1,531.
