Ethereum's market share has dropped to its lowest level since 2021 despite recent price increases

Although Ethereum has seen recent price increases, in terms of market share, ETH has fallen to its lowest level since 2021. Clearly, the market is witnessing an influx of capital into Ethereum ETF funds, with significant growth driven by investments from whales and large institutions. However, market sentiment remains quite mixed. While some positive factors such as strong investment inflows and supportive on-chain metrics exist, hesitation persists among investors regarding ETH's ability to break through key resistance levels.

Notably, the total value locked in the Ethereum ecosystem has seen a significant increase, indicating positive development of decentralized applications (DApps). Despite Ethereum's price recently rising over 33%, its market share is still negatively affected by sell-off sentiment amidst concerns about macroeconomic factors. Therefore, maintaining a positive trend in ETH's price may be challenging without a clear recovery in market share.