$ETH at $2310, do you want to chase?

Bitmine just invested $9.48 billion and locked in 4.19 million ETH into staking, LayerZero spent $23 million to push into DeFi, BlackRock explicitly stated “ETH is the core of tokenization” — but what about the price? Halved from the high of $4950 to now, like a boxer punched twice, staggering but not falling.

First look at the surface: good news piled high, but the price moves like a turtle

In the past 24 hours, ETH rose 2.65%, climbing from $2250 to $2310. But don’t celebrate too early — the candlestick chart shows the MACD histogram dropping from 3.17 to 2.14, price is rising, but momentum is leaking.

First thing: institutions don’t just talk about being bullish, they actually vote with their money.

Bitmine locked in 4.19 million ETH into staking, accounting for 10.5% of the total network staking. LayerZero spent 10k ETH to add liquidity on Aave. Meanwhile, BlackRock’s 2026 outlook lists ETH as a core track for RWA tokenization.

Second thing: May is mystical, but data doesn’t lie.

Historically, ETH’s average May gain is 34.7%, median 18.4%. The past two months (March-April) have already formed a pattern of small bullish candles building a bottom, creating a classic “low-position buildup + strong month” combo.

Third thing: fundamentals are still the strongest.

Ethereum + Layer 2 total TVL accounts for 50-60% of the entire market, stablecoin issuance makes up over half of the global total, 33% of supply is already staked. Pectra upgrade has been implemented, Glamsterdam and Hegotá are about to launch. Without ETH, the entire DeFi ecosystem would halt.

Fourth thing: but there’s a warning you need to see.*

ETF has been net outflow for four consecutive days, totaling $23.64 million, BlackRock’s ETH A shares are being redeemed. Also, an address cleared hundreds of dormant wallets that have been inactive for 7 years.

On one side: institutional staking, DeFi investments, mystical May, unbeatable fundamentals.

On the other side: ETF outflows, security incidents, declining momentum, high interest rates pressing down.

Key level: $2230, the last bottom line for bulls and bears.

If you are a short-term trader: try small longs around $2310, stop-loss at $2270, target $2370–$2460. Break below $2270 and run, don’t hold, next stop is $2230.

If you are a long-term investor: build positions in batches between $2230–$2280, total position 30-50%, stop-loss at $2200. First target $3000–$3200 (May-June), second target $4000+ (end of year). When it dips, add; when it rises, take profits; don’t chop and change.

ETH now is like BTC at the end of 2020 — everyone thought “it’s old, it can’t run anymore,” but what happened? #美国寻求战略比特币储备 $ETH