Key results:

• Data on derivative instruments show that traders remain careful despite the last benefits of ETH prices and forceful ETF inflows.

• Ethereum faces competitive pressure from the Solan and BNB chain due to the augment in the activity of the stagnation network.

The price of ether (ETH) has increased by 56.5% in the last 30 days, but ETH derivatives suggest that traders remain careful.

This sentiment may reflect anxiety, because the ether has not repeatedly broke the $ 4,000 threshold since March 2024. The persistent weakness of the Ethereum Onchain indicators increases investors’ frustration.

On Thursday, the annual level of financing of the ether dropped to 9%on Thursday, which indicates lower demand for stubborn positions. However, 19% financing rate from Friday to Monday showed moderate excitement. Currently, the financing rate has returned to its level from July 7, when ETH traded nearly 2600 USD. This is unexpected because since then ETH has gained 46%.

Eth traders disappointed when Ethereum tvl decreases

Part of the disappointment of traders results from 11% of the decline in network deposits. The total blocked value (TVL) in the Ethereum ecosystem fell on Wednesday to the five -month lowest level 23.4 million ETH, compared to 26.4 million ETH thirty days earlier.

For comparison, TVL on Solanie fell only 4% in terms of SOL, while BNB chain deposits increased by 15% in BNB categories.

Ethereum also lost its highest place in a decentralized volume of exchange (DEX), from $ 81.4 billion in operations within 30 days, according to Dandera. For comparison, Solana coped with $ 82.9 billion, while the BNB chain ran the market with an extraordinary volume worth $ 189.2 billion in the same period.

Network activity is crucial because ultimately transactions are necessary to pay validators and encourage other decentralized applications (DAPP) to build online.

Therefore, even if Ethereum retains his leader on TVL and energetic programmers, these advantages do not mean much if stopping network activity compared to rivals.

To assess whether ETH whales and market manufacturers have adopted a more cautious approach, it is essential to analyze the ETH term contracts market. Under typical conditions, these contracts should trade with an annual bonus from 5% to 10%, compensating for a longer settlement period.

Currently, the ETH Futures annual bonus is 6%, compared to 8% on Tuesday, maintaining the neutral range over the last three weeks.

What’s more, this decrease in the demand with a stubborn lever occurred because the ETF rotary funds (ETF) recorded net influx for almost three weeks in a row.

Related: Corporate Crypto Treasury Holdings highest USD 100 billion, because the Ether Buyer accelerates

Lack of enthusiasm with a price sign 3800 USD may result from fear that Solana and BNB chain competitors are more user -friendly thanks to their higher capacity in the basic layer.

In addition, there are concerns about the lasting impact of ether reserves possessed by corporations, the augment of which played a significant role in the recent rapid augment in Ethereum prices.

Nine listed companies have gathered at least 2,000 ETH each, including Bitmine Immersion Tech (BMNR), Sharplink Gaming (SBET) and Ether Machine (DINX), in accordance with strategicreserve.xyz strategicreserva strategic resources.

If the purchase of a corporate reserve is continued, ETH can march up to $ 5,000. For now, however, traders remain skeptical and do not doubt that 4000 USD is at a striking distance.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.