Ethereum Faces Price Resistance While Futures Show 6% Premium

Ethereum is currently trading between $2.4K and $2.75K, struggling to maintain the $2.5K mark since May 10. Despite a recent 9% price decline, ETH futures show a 6% premium over spot prices, indicating neutral-to-bullish sentiment among traders.

Key Market Insights

Total value locked (TVL) in the crypto industry stands at $122B, down 43% from its peak in December 2021.
Ethereum holds a dominant 54.2% market share of TVL, significantly higher than Solana and BNB Chain combined.
In the last 30 days, top dApps on Solana generated $356.3M in user fees with only $48.5M as protocol fees.
Top dApps on Ethereum collected $169M, with $38.3M as protocol fees.
ETH has increased approximately 75% since mid-April, necessitating consolidation for long-term growth.
A breakout above $2.75K could lead ETH towards its all-time high of $4K.

Despite current price stagnation, Ethereum remains a key player in the market, influenced by Layer 2 solutions that enhance demand.