Ethereum pushed above the $2,500 resistance level before facing another rejection near $2,550, leaving traders focused on whether a weekly close above that threshold could open a path toward $3,000. Market analyst Ted noted that a close above $2,550 is a key signal for the next leg higher, while a rejection could keep ETH pinned below resistance.
Beyond the price action, Ethereum's ecosystem added 35 new products and upgrades through August across finance, privacy, wallets, gaming, and network improvements. BlackRock introduced a tokenized share class for its Select Treasury Based Liquidity Fund on Ethereum mainnet and began tokenizing share classes of a $311 billion European money market fund series on the network. Revolut announced a phased rollout of its euro stablecoin EURR on Ethereum for eligible users.
DeFi activity also featured prominently. Aave v4 passed $525 million in deposits on Ethereum, while Morpho reached $5.75 billion in deposits on Base. Uniswap reported more than $1 billion in stock token volume and over $20 billion in total volume on Robinhood Chain since its July launch. Other launches included Coinbase Tokenized Stocks on Base, MetaMask Agent Wallet, and new privacy tools. Arbitrum activated ArbOS Elara, and Whitechain announced plans to move from a layer-1 to an Ethereum layer-2 using the OP Stack.
Analyst Tanaka argued that Ethereum could outperform Bitcoin this cycle because ETH offers exposure to staking yield and serves as a settlement layer for stablecoins, tokenized Treasuries, and real-world assets. Around 34% of ETH supply is reported to be staked, while ETF demand, institutional buying, and EIP-1559 are seen as factors reducing available supply.
Whale positioning offered a mixed signal, with the Whale versus Retail Delta for ETH remaining negative but falling, suggesting short positions may be closing or being liquidated. The next weekly close remains a key focus for traders watching Ethereum's short-term direction.
