New York, June 14, 2024 – Despite positive indicators, Ether (ETH) faces a challenge in surpassing the $2,800 mark, according to recent data. The cryptocurrency has been trading within a range of $2,370 and $2,770 since May 10, 2024. (Source: Cointelegraph, June 14, 2024)
Ethereum's dominance in the blockchain space remains strong, particularly when including its layer-2 scaling solutions. Ethereum's total value locked (TVL) stands at $66.6 billion, far exceeding its competitors. Ethereum currently holds a 61% market share, while its two largest competitors combined account for only 14%. (Source: Cointelegraph, June 14, 2024)
The TVL of Ethereum's base layer increased by 6% over the past 30 days, driven by gains from Pendle, Ethena, and Spark. Conversely, BNB Chain and Solana experienced declines of 6% and 2%, respectively. Ethereum's layer-2 solutions recorded $70 billion in decentralized exchange (DEX) activity over 30 days, maintaining its lead. (Source: Cointelegraph, June 14, 2024)
Ethereum's DEX activity, including scaling solutions, totaled $136.8 billion. Ethereum's onchain fees over 30 days were $43.3 million. Spot ETH ETFs have seen $837 million in net inflows since May 16, 2024. (Source: Cointelegraph, June 14, 2024)
Ether's short-term supply on exchanges has fallen to a record low of 16.33 million ETH. Approximately 28.3% of the total Ether supply is locked in staking. The sharp 48% ETH rally between May 7 and May 14 highlights the imbalance between holders and potential buyers. (Source: Cointelegraph, June 14, 2024)