Ethereum is under near-term price pressure, yet its underlying network remains robust. Despite the headwinds, Ethereum continues to dominate the DeFi landscape. The network now accounts for nearly 68.2% of global DeFi TVL, with more than $69 billion deployed on its smart contracts.
That level of capital eclipses other chains, including Solana, Tron, BNB Smart Chain, Bitcoin, and Avalanche. Beyond DeFi, Ethereum also hosts over $191 billion in stablecoins and plays a central role in the tokenized euro market. For institutions, these factors matter because stablecoins are issued where security and reliability are strongest, making Ethereum a preferred settlement layer.
Institutional buying is translating into real exposure: in the last 24 hours, Tom Lee’s Bitmine reportedly purchased about 68,000 ETH, worth more than $200 million. Fasanara Capital followed suit, acquiring ETH, placing it in DeFi protocols, and borrowing against it to finance further buys.
All this buying is unfolding as ETH trades under technical pressure, with resistance around $2,800 and limited upside near-term. Ethereum controls 68%+ of DeFi TVL. Binance’s exchange-supply ratio for ETH has fallen to 0.032, the lowest since September 2024, signaling tighter supply. If buyers defend support, the tightening supply could help lift prices.
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