Ethereum (ETH), currently the second largest cryptocurrency, has been hovering around $2,100 for days. That’s a hefty 47% below its peak around this time in December. What’s going on with Bitcoin’s (BTC) major competitor?
The numbers don’t lie: Wall Street seems to be done with it. According to SoSoValue, Ethereum ETFs lost $120 million in assets last week, after a hit of $335 million the week before. Total? An outflow of $455 million. For comparison: the net inflow into ETH ETFs stands at $2.7 billion, while Bitcoin ETFs rake in a hefty $37 billion.
A major culprit seems to be ETH’s poor performance. Since 2024, Ethereum has been lagging behind other cryptos, and investors are noticing. Add to that the fact that Ethereum ETFs do not allow staking – a return of about 3.25% according to StakingRewards. This is earned by committing your coins to the network. A whopping $73 billion in ETH is now tied up in staking, and ETF investors are essentially missing out.
Ethereum is also struggling with competition. It used to be the money machine of the crypto world, but in 2025 the network only generated $202 million in fees. That’s peanuts compared to competitors like Jito (JTO), Uniswap (UNI), Tron (TRX) and Solana (SOL), plus layer-2’s like Base and Arbitrum that are gaining more and more ground.
The daily chart looks gloomy. Ethereum has plummeted from $4,105 to $2,160 since November last year. That $2,000 threshold is crucial: it held up last year in August and September. Now, ETH is balancing on the neckline of a triple-top pattern – not exactly a bullish sign. If it drops below this, the psychological $1,500 is the next target.
In short, Ethereum is in a slump. No staking in ETFs, stiff competition, and a price that’s not moving forward – it all doesn’t help. Will ETH recover, or will it continue to struggle? What do you think – time to get in, or wait a bit longer?
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