Ethereum ETF Outflows Flip Late, ETH Holds $2.3K Amid Glamsterdam Progress

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<a href="https://investment-policy.com/eth-usd/">Ethereum</a> (<a href="https://jpyxx.com/eth-usd/">ETH</a>) Holds $2.3K as ETF Flows Flip Late

Key Highlights

  • ETH traded near $2,306, almost flat over seven days.
  • U.S. spot Ethereum ETFs ended the week with about $82.5M net outflows.
  • Ethereum developers advanced Glamsterdam with a 200M post-upgrade gas limit floor.

As a crypto investor, I’ve been watching Ethereum closely this week, and it’s been pretty stable, trading around $2,306 as of May 2nd. It’s actually down just a tiny bit – less than a quarter of a percent – over the last seven days, according to CoinGlass. It feels like we’re seeing a pause before the next big move, rather than a strong price increase, and it keeps bouncing around that $2,300 mark.

ETH price chart shows bulls defending $2,300

Ethereum is currently trading around $2,307, a slight increase of about 0.63%, according to TradingView. Buyers have successfully prevented the price from falling further, and now the $2,300–$2,310 range is a key area to watch for potential price movements.

The price of ETH is still showing caution in the short term, as it remains below the $2,400–$2,430 resistance level. If the price can clearly close above this range on a daily chart, it would suggest a strengthening recovery and potentially open the way for further price increases.

As I’ve been analyzing the market, I’ve identified a key support level between $2,280 and $2,300. If the price drops below that, I’ll be watching the area around the $2,211 and $2,192 moving averages very closely. A move below those points would likely signal the end of this recent price increase and could lead to a retest of the $2,100 level.

The Relative Strength Index (RSI) is currently around 53, suggesting ETH’s momentum is neutral, with a slight upward trend. While ETH isn’t overbought, we need to see increased trading activity and a move past its current resistance level to confidently confirm a shift in the overall trend.

ETF outflows flipped 

The biggest market trend was fluctuating activity in Ethereum ETFs. According to data from Farside Investors, these ETFs experienced four consecutive days of net outflows between April 27th and April 30th, totaling about $183.7 million. However, on May 1st, the trend reversed, with a net inflow of $101.2 million.

Even with Friday’s gains, the week still saw about $82.5 million more money leave than enter, suggesting the positive shift didn’t completely offset earlier losses.

Trading in Ethereum futures continued to be much higher than actual Ethereum buying and selling. Data from CoinGlass showed $17.91 billion in futures trading over the past 24 hours, compared to $794.8 million in spot trading. There’s currently $30.87 billion worth of open interest, and about $15 million worth of positions were liquidated. This suggests that Ethereum’s price could move significantly if it goes above or below its current trading range.

On-chain dex volume drops

Recent activity on the blockchain presented a mixed picture. While the total value of stablecoins on Ethereum remained substantial at around $164.46 billion, it decreased by 1.37% in the last week. Decentralized Finance (DeFi) platforms generated about $585,711 in fees over the past 24 hours. Trading volume on Ethereum’s decentralized exchanges (DEXs) reached $835 million in a day, but overall weekly volume dropped almost 49.44%, suggesting a slowdown in trading despite Ethereum’s continued strength.

The most significant progress, aside from price changes, came from improvements to Ethereum’s core technology. Over 100 developers met at the Soldøgn Interop event to refine the ‘Glamsterdam’ upgrade. The Ethereum Foundation reported they successfully achieved three main objectives: setting a minimum gas limit of 200 million for transactions after the upgrade, ensuring stable operation of the new transaction processing system with outside developers, and finalizing the pricing details for EIP-8037.

Ethereum’s official plan currently shows the ‘Glamsterdam’ upgrade happening in the first half of 2026, with ‘Hegotá’ planned for the second half. While these upgrades could be positive catalysts for the protocol, the price of ETH hasn’t yet reflected this potential growth.

Market outlook

Ethereum’s price didn’t fall decisively enough to signal a downturn, nor did it rise enough to confirm an upward trend. While ETF demand showed some late improvement and developers made progress, the price is still hovering around $2,300, awaiting a surge in trading volume to indicate its next move.

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2026-05-02 23:02