Ethereum (ETH) saw a 3.5% increase, reaching $2,519, supported by record ETF inflows and Robinhood’s announcement of a new Layer-2 blockchain built on Arbitrum's technology. CoinShares reported $429 million in weekly inflows and nearly $2.9 billion YTD into ETH funds, alongside a decline in ETH supply on exchanges and growth in staking, with over 35 million ETH locked in proof-of-stake contracts. Robinhood's Layer-2 initiative will enhance Ethereum's ecosystem by supporting staking and tokenized stock trading. Ethereum co-founder Vitalik Buterin introduced a new digital identity framework designed to protect user privacy, promoting the adoption of decentralized applications. Additionally, the Ethereum Community Conference (EthCC) in Cannes demonstrated ongoing developer momentum with over 6,400 attendees. Despite these developments, ETH remains below its 200-day moving average, indicating technical barriers. The combination of inflows and significant developer progress suggests a positive outlook for Ethereum.

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