Ethereum (ETH) Jumps as Robinhood Builds New Blockchain Using Arbitrum Technology

Ether

3.5% up to now 24 hours to $2,519 as of 18:59 UTC on June 30, based on CoinDesk Research’s technical evaluation mannequin, supported by continued institutional demand, community upgrades, and main retail platform integrations.

Institutional curiosity stays strong, with CoinShares reporting $429 million in web inflows into ether funding merchandise over the previous week and practically $2.9 billion year-to-date. This pattern has coincided with a declining ETH provide on exchanges and rising staking ranges, with over 35 million ETH —a spherical 28% of the entire provide — now locked in proof-of-stake contracts. Market analysts recommend that these components are decreasing liquid provide and bolstering ether’s long-term funding thesis.

Robinhood introduced on Monday that it’s growing its personal Layer-2 blockchain utilizing Arbitrum’s rollup infrastructure. The community isn’t but dwell, however the initiative will ultimately help Ethereum staking, tokenized inventory buying and selling, and perpetual crypto futures. Although the L2 is beneath improvement, the choice to construct it on Ethereum’s rollup ecosystem is seen as a long-term vote of confidence in Ethereum’s scalability roadmap.

Ethereum co-founder Vitalik Buterin has additionally launched a brand new digital id framework utilizing zero-knowledge proofs. This system permits customers to confirm traits or credentials with out revealing personal knowledge and is designed to assist Web3 apps incorporate privacy-preserving id methods. Analysts view this as a key step towards wider adoption of decentralized functions requiring delicate consumer authentication.

Meanwhile, the Ethereum Community Conference (EthCC) kicked off in Cannes, France, gathering greater than 6,400 attendees and 500 audio system. The occasion showcases Ethereum’s ongoing developer momentum by way of shows on new instruments, scaling methods, and protocol enhancements.

Despite the constructive momentum, ETH stays slightly below its 200-day shifting common, suggesting technical obstacles nonetheless exist. However, the confluence of inflows, developer progress, and scaling plans continues to help a constructive 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% vary.
• The largest spike occurred through the 22:00–23:00 UTC window on June 29, when ETH surged 2.9% on quantity of 368,292 ETH, briefly pushing by way of the $2,500 barrier.
• On June 30 at 15:00 UTC, ETH discovered sturdy help round $2,438 on above-average quantity, confirming a bullish ground.
• A neighborhood excessive of $2,523 was reached earlier within the day, establishing resistance simply above the psychological $2,500 degree.
• During the ultimate hour from 18:00 to 18:59 UTC on June 30, ETH retraced from an intraday peak of $2,499.19 to shut at $2,487.19.
• A pointy upward transfer between 18:20–18:21 noticed ETH climb 1.6% on 6,318 ETH quantity, stalling close to $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 text have been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Policy.