Ethereum Hits $2,676.81 as ETF Inflows and Staking Supply Tighten
Ethereum rose 1.70% to $2,676.81 on September 21. Spot ETF inflows resumed while exchange balances hit multi-year lows.
Key points
- Ethereum traded at $2,676.81 on September 21, marking a 1.70% daily increase.
- Over 35% of circulating Ether is locked in staking, reducing exchange liquidity.
- Spot ETF inflows resumed, reversing earlier institutional outflows of over $142 million.
Ethereum rose 1.70% to $2,676.81 on September 21 at 20:15 ET. This gain extended a seven-day climb of 4.23% for the asset.
Spot ETF demand recovered after earlier institutional redemptions. TradingKey notes that investors viewed lower prices as entry points rather than a distribution phase.
Staking locks reduce available liquidity
Exchange-held Ether balances dropped toward multi-year lows. This decline reduced the immediate liquid supply available for trading.
More than thirty-five percent of circulating supply now sits in staking protocols. This structural shift amplifies the impact of new buy-side orders.
Derivatives show balanced market positioning
Funding rates across perpetual swaps remained modestly positive. This indicates balanced leverage rather than a forced short squeeze.
Layer-2 transaction volumes and DeFi activity continue to support utility narratives. These factors reinforce the broader store-of-value thesis for Ethereum.
Technical signals suggest continued momentum
The MACD indicator stands at 4.662, signaling a buy. The RSI reading of 66.807 suggests a neutral market condition.
Williams %R shows an overbought condition at 5.307. Traders should monitor these levels closely for potential reversals.
