Ethereum rallies past $2,500 on stablecoin and ETF inflows
Ethereum (ETH)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Ethereum reclaimed the $2,500 level on Thursday, driven by expanding stablecoin supply and sustained ETF inflows. The total stablecoin market cap grew by approximately $4.1 billion over two weeks, with $2.37 billion added in the last seven days. This marks the first two-week expansion since mid-May, reversing a contraction of $16.1 billion observed between mid-May and August 11.
Traditional investors have also shown bullish sentiment, with US spot ETH ETFs recording $1.18 billion in net inflows over eight consecutive days. This eight-day positive streak is the longest since April and represents the largest eight-day flow since October, according to SoSoValue data. Staked ETH continues its upward trend, reaching 42.4 million ETH, which accounts for 34.7% of the total supply per Ultrasound Money.
Market participants saw $122.9 million in liquidations over 24 hours, primarily driven by $77 million in short liquidations. On the daily chart, ETH maintains a bullish bias by holding above both long- and short-term Exponential Moving Averages. However, momentum indicators suggest caution, with the 14-day RSI near 77 and the Stochastic Oscillator above 90.
Immediate support sits at $2,432, with deeper levels at $2,223 and the $2,172–$2,151 band. Resistance is found at $2,744 and $2,883, where a daily close above the former could trigger further upside.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 28 August 2026. Not the outlet's figures.
At $2,510.94, the market shows a buy ratio of 41.5% over the last hour and 45.6% over four hours, which is lower than the 48.6% recorded over the past 24 hours. This decline in the buy ratio over shorter timeframes indicates that buying pressure is fading relative to the broader daily trend. The volume delta reflects this shift, showing net selling of -$3,157,403 in the last hour and -$7,725,692 over four hours. Over the full 24-hour period, the volume delta stands at -$22,699,506, with a cumulative CVD of -$44,926,751. These negative deltas mean that sell volume exceeded buy volume during this period, indicating net outflow from the spot market. Despite this, the market recorded $846,470,842 in spot volume across 3,426,529 trades, with net buying occurring in only 7 of the 24 hours.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Twenty-four hours later
What ETH did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.3%, making today's 24-hour ratio of 48.6% slightly below the weekly norm by 2.6 percentage points. Trading volume today was 0.74 times the weekly average, indicating a quieter trading day than usual. While the market saw net buying on 6 of the 7 days last week, today's negative volume delta suggests a pause in that accumulation trend. The price increased by 7.9% over the eight-day period, supported by a total positive volume delta of $248,748,632. This contrast highlights that while the weekly trend remains constructive, the immediate 24-hour flow has turned net negative.