TechFlow reported on February 10 that a chart released today by Matrixport shows, despite spot Ethereum ETFs accumulating $500 million in inflows since late January, ETH prices continue to face downward pressure. Data indicates Ethereum's market share has dropped to 10%, nearly erasing all gains achieved during the post-Trump election rally in November last year. However, interest from long-term value investors appears to be rising, with even members of World Liberty Financial expressing attention toward ETH.
Looking ahead, the upcoming March upgrade of the Ethereum network could serve as a potential catalyst, but market sentiment remains lukewarm—contrasting sharply with the enthusiastic atmosphere surrounding previous upgrades. Currently, the market widely believes this upgrade will struggle to ignite a significant price move. In the absence of clear positive drivers, ETH prices may continue to face pressure.
