Ether

ETH $2,500.89

ETH has risen 3.5% in the past 24 hours to $2,519 as of 18:59 UTC on June 30, according to CoinDesk Research’s technical analysis model. This increase is supported by continued institutional demand, network upgrades, and significant retail platform integrations.

Institutional interest remains strong, with CoinShares reporting $429 million in net inflows into ether investment products over the past week and nearly $2.9 billion year-to-date. This trend coincides with a declining ETH supply on exchanges and rising staking levels, with over 35 million ETH — approximately 28% of the total supply — locked in proof-of-stake contracts. Analysts suggest these factors reduce liquid supply and strengthen ether’s long-term investment outlook.

On Monday, Robinhood announced its development of a Layer-2 blockchain using Arbitrum’s rollup infrastructure. Although the network is not yet live, it will eventually support Ethereum staking, tokenized stock trading, and perpetual crypto futures. The decision to build it on Ethereum’s rollup ecosystem signals long-term confidence in Ethereum’s scalability roadmap.

Ethereum co-founder Vitalik Buterin introduced a new digital identity framework using zero-knowledge proofs, enabling users to verify traits or credentials without disclosing private data. This framework is designed to assist Web3 apps in incorporating privacy-preserving identity systems, viewed as key for wider adoption of decentralized applications requiring sensitive user authentication.

The Ethereum Community Conference (EthCC) began in Cannes, France, drawing more than 6,400 attendees and 500 speakers. The event highlights Ethereum’s ongoing developer momentum through presentations on new tools, scaling strategies, and protocol improvements.

Despite the positive momentum, ETH remains below its 200-day moving average, suggesting technical barriers still exist. However, the combination of inflows, developer progress, and scaling plans supports an optimistic outlook.

Technical Analysis Highlights

• Ether traded between $2,438.50 and $2,523 from June 29, 19:00 to June 30, 18:00, marking a 3.47% range.
• The largest spike occurred during the 22:00–23:00 UTC window on June 29, when ETH surged 2.9% on a volume of 368,292 ETH, briefly surpassing the $2,500 barrier.
• On June 30 at 15:00 UTC, ETH found strong support around $2,438 on above-average volume, confirming a bullish floor.
• A local high of $2,523 was reached earlier, establishing resistance just above the psychological $2,500 level.
• During the final hour from 18:00 to 18:59 UTC on June 30, ETH retraced from an intraday peak of $2,499.19 to close at $2,487.19.
• A sharp upward move between 18:20–18:21 saw ETH climb 1.6% on 6,318 ETH volume, stalling near $2,499.
• As of 20:23 UTC on June 30, ETH traded at $2,519, up 3.49% in 24 hours, signaling renewed bullish momentum into the Asia open.

Disclaimer: Parts of this article were generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.