Investors in “waiting mode” as ethereum drops below $4,000, ETFs see $428.5 million in outflows
Looking on-chain, stablecoin activity on ethereum crossed an all-time high of 1 million unique weekly stablecoin senders.
As the price of ethereum dropped below the $4,000 level, a 3.8% decline in the last 24 hours, spot ethereum ETFs notched one of their highest daily net outflows ever, marking three consecutive days of capital exiting from the funds.
On Monday, the ETFs saw $428.5 million in outflows, which is the fourth-highest daily loss since the funds’ inception, data from SoSoValue shows.
Julio Moreno, head of research at data analytics platform CryptoQuant, said traders remain in “waiting mode” after the weekend retrace, pointing to a small increase in open interest for futures markets and funding rates remaining at low levels.
“Although there has been a recovery from the lows after the price correction, the market structure is still damaged and traders/investors have not bought back ETH at the levels before the correction,” Moreno told Sherwood News.
Stablecoin activity climbs to new records
Meanwhile, ethereum’s stablecoin activity is growing to new heights in terms of unique weekly senders, a sign of increasing adoption.
The last two weeks each saw an all-time record of over 1 million unique stablecoin senders on the ethereum blockchain, a jump from 2025’s average of 720,000 senders and the roughly 400,000 weekly senders averaged between January 2020 to July 2024, per a report from The Block.
Ethereum’s stablecoin supply stands at $163.2 billion, making up nearly 54% of the entire supply of stablecoins across all blockchain networks, including solana, Tron, BNB Chain, Arbitrum, and Base, per on-chain data firm Artemis.
