While tokenization and RWA TVL growth underscore Ethereum's fundamentals, stagnant DApp activity and persistent spot ETF outflows keep ETH price under pressure. Miner purchases are overshadowed by sell-side flows, raising questions about the $1,500 support level.
ETF Outflows Trump Miner Buys, ETH Under Pressure
Ethereum's fundamentals remain supported by tokenization and real-world asset (RWA) total value locked (TVL) growth. However, stagnant decentralized application (DApp) activity, combined with relentless spot ETF outflows, continues to weigh on ETH price. Latest data reveals a single-day net outflow of $345 million from ETH ETFs, completely dwarfing miner buying from entities like Bitmine. Market participants now debate whether ETH could slip below the $1,500 mark in the near term.
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