Ethereum has recently outperformed Solana in capital inflows, highlighted by a significant drop in the SOL/ETH Hot Capital Ratio, which reached a yearly low of 0.045. This represents a 42% decrease since April, indicating a shift in short-term capital to Ethereum. The surge in ETH futures open interest, hitting $58 billion, reflects increased market participation. Ethereum now holds 34.8% of total open interest across major exchanges, while Bitcoin's share has dropped significantly. Despite not yet reaching the critical $4,000 resistance, Ethereum's funding rates are lower than during past attempts to break this level, suggesting more room for upward movement driven by lower speculative risks and strong spot demand. Notably, companies and spot ETH ETFs have acquired about 1.6% of the current total ETH supply since June. Analysts predict that if ETH breaks the $4,000 mark, it may not fall below it quickly due to ongoing positive momentum. However, caution is warranted as the asset corrected by 9.72% recently before recovering 9%. Overall, the outlook for Ethereum appears bullish as it heads towards this significant price milestone.

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