Gramsterdam Ethereum ($ETH) upgrade is expected to be rolled out in the third quarter of 2026. The focus of the upgrade will be on transaction processing and enabling the simultaneous processing of multiple transactions, while also updating pricing rules to support higher network capacity.
Increased speed, capacity, and efficiency are major gains for one of the largest Layer 1 networks in cryptocurrency. However, it may have little direct impact on altcoin prices.
Even though Ethereum has been able to attract institutional buyers, the market-wide sell-off has yet to ease significantly.
Ethereum’s recovery could accelerate as dry powder is sidelined
In a post on CryptoQuant Insights, analyst CryptoOnChain drew attention to the increase in stablecoin net inflows to Binance.
at the same time, $ETH is flowing out of exchanges, leading to a decrease in reserves.
The increase in stablecoin deposits on exchanges represents the purchasing power of onlookers. Negative 7-day net transfer amount is $ETH Leaked from the exchange.
However, Coinbase’s premium has fallen in recent weeks, indicating that US-based investors may not yet be willing to bet on a price recovery.
These indicators set the conditions for sharp price movements in either direction. More sales may be needed before the smart money stops waiting and steps in with significant capital.
Analyzing competing Ethereum signals
At the time of writing, Ethereum’s weekly chart was showing a bullish swing structure.
Importantly, the 78.6% retracement level at $2,147 was also broken. The internal structure was bearish, especially after being dominated by sellers for nearly 10 months.
They seem unlikely to relinquish market power anytime soon. In fact, the daily chart has a bearish structure and was below February’s lows earlier this month. This breakdown could be evidence that the bear market continues.
Technically, a bounce back to the key retracement levels of $2.1,000 and $2.26,000 is possible, but that is unlikely if Bitcoin (BTC) falls below $60,000 again.
Therefore, traders and investors can expect a move towards the southward extension level at $1,278 next.
Final summary
- Ethereum exchange outflows represent accumulation, and stablecoin supply increased on the chart.
- Both the Coinbase Premium Index and price trends suggest that sellers may be in control at the moment.
