Ethereum has slipped to a key support zone near $1,800 as persistent ETF 
outflows, geopolitical uncertainty, and a bearish technical breakdown keep 
traders on the defensive. According to data from crypto.news, Ethereum (ETH) 
price was trading around $1,875 at press…

Ethereum has slipped to a key support zone near $1,800 as persistent ETF outflows, geopolitical uncertainty, and a bearish technical breakdown keep traders on the defensive. According to data from crypto.news, Ethereum (ETH) price was trading around $1,875 at press…

Ethereum tests $1,800 support as ETF outflows mount, can bulls defend it?

Investors who stay patient through the current pullback could be among the 
biggest winners when market sentiment eventually turns — at least according to 
one analyst who has been tracking XRP closely through this period of weakness. 
Related Reading: XRP Is The Clear Winner For Transactions, According To Peter 
Brandt A Floor That Holds XRP is not expected to collapse below $1, based on 
the analyst&#8217;s reading of current market conditions. The token has been trading 
near the bottom of its recent range, weighed down by a broader crypto selloff 
that has pushed Bitcoin below key support levels and rattled confidence across 
the market. The analyst, speaking in a video report, pointed to the $1.20 area 
as a likely floor before any meaningful recovery begins. That level, in his 
view, represents the kind of final washout that has historically preceded 
major rallies — a pattern he says is playing out again now. Geopolitics Behind 
The Pressure Much of the near-term risk, according to the analyst, comes not 
from crypto fundamentals but from the Middle East. Escalating tensions in the 
region have raised fears of a major crude oil supply disruption, with reports 
pointing to declining oil inventories, drawdowns in Japan&#8217;s strategic 
petroleum reserves, and renewed conflict between Iran and Israel. Idle vessels 
in the Gulf are reportedly dealing with operational issues that could slow 
energy transportation further. Even if a peace deal materializes, supply 
chains may take months to fully recover, the analyst warned. That overhang, he 
argues, keeps the door open for another round of selling across risk assets — 
crypto included. Stocks Are Flashing Yellow Traditional markets are not giving 
investors much comfort either. The US bond market has remained stuck in a 
prolonged drawdown, and while the S&amp;P 500 has pushed to fresh highs, those 
gains are concentrated in a small number of companies. Market breadth is thin, 
and valuations are at historic extremes. The analyst&#8217;s advice: skip the 
overheated equity trade and pay attention to assets that have already gone 
through serious corrections. Related Reading: Ethereum Signals Strength As 
Citigroup Eyes $5.5 Trillion Tokenized Asset Boom A Bull Run Delayed, Not 
Denied XRP&#8217;s long-term case remains intact, the analyst said, with a major 
rally expected later in 2026. He plans to keep buying on weakness and views 
the current climate — heavy selling, widespread fear — as exactly the kind of 
setup that precedes outsized gains. Even large institutional buyers have been 
unable to stop prices from sliding, reports note. But the analyst sees that as 
a feature, not a flaw, in a market that tends to reward those who hold through 
the hard stretches. Featured image from Pexels, chart from TradingView

Investors who stay patient through the current pullback could be among the biggest winners when market sentiment eventually turns — at least according to one analyst who has been tracking XRP closely through this period of weakness. Related Reading: XRP Is The Clear Winner For Transactions, According To Peter Brandt A Floor That Holds XRP &#8230;

XRP Dips In The Short Run, But A Bigger Setup May Be Forming: Analyst

Binance disclosed an Alpaca stake and fee-sharing terms as it expands U.S. 
stock and ETF trading for eligible global users.

Binance disclosed an Alpaca stake and fee-sharing terms as it expands U.S. stock and ETF trading for eligible global users.

Binance discloses Alpaca stake as stock trading deal expands

Trezor says Safe 7 funds remain secure after Ledger Donjon found a TROPIC01 
chip flaw during lab testing with physical access.

Trezor says Safe 7 funds remain secure after Ledger Donjon found a TROPIC01 chip flaw during lab testing with physical access.

Trezor says Safe 7 funds are safe after Ledger finds chip flaw

Grayscale’s Hyperliquid Staking ETF (HYPG) began trading on June 3 with a 
0.29% sponsor fee, the lowest among US-listed HYPE products, intensifying a 
price war among issuers chasing the fast-growing token. A Fee War Heats up 
Around HYPE Grayscale has launched its Hyperliquid Staking exchange-traded 
fund (ETF), with the product now trading live under the […]

Grayscale’s Hyperliquid Staking ETF (HYPG) began trading on June 3 with a 0.29% sponsor fee, the lowest among US-listed HYPE products, intensifying a price war among issuers chasing the fast-growing token. A Fee War Heats up Around HYPE Grayscale has launched its Hyperliquid Staking exchange-traded fund (ETF), with the product now trading live under the &#8230;

Grayscale’s Hyperliquid Staking ETF Debuts With Lowest US Fee at 0.29%

CoinShares has laid out a five-year valuation framework for Ethereum that puts 
ETH at $14,135 by 2031 in its bull case, arguing that the asset’s long-term 
value now depends less on base-layer fees and more on its role as money, 
collateral and settlement infrastructure across the Ethereum economy. How High 
And Low Could Ethereum Go By 2031? The report, written by Luke Nolan, 
CoinShares’ senior research associate for Ethereum, frames ETH through a sum- 
of-parts model combining a cash-flow valuation, a monetary premium valuation 
and an additional network/speculative overlay. The headline outputs are wide: 
a bear case of roughly $1,443 by 2031, a base case of $4,935 and a bull case 
of $14,135, implying annualized returns of -9%, 16% and 43%, respectively, 
from current spot levels. Ethereum is getting harder to value. After Dencun, 
fees collapsed, but network usage kept growing. Our latest research by Luke 
Nolan (@eazygambit) introduces a 5-year sum-of-parts framework for ETH, 
combining cash flows, monetary premium, and network effects. Base case: 
~$4,935… pic.twitter.com/dd938gknAR — CoinShares (@CoinSharesCo) June 2, 2026 
The central premise is that Ethereum has become harder to value after Dencun. 
CoinShares notes that the upgrade moved execution activity away from the base 
layer and toward layer-2 networks, pushing user costs down and throughput 
higher, but also sharply reducing the fee revenue that had previously 
supported ETH’s “ultrasound money” narrative. Weekly fees that peaked above 
$200 million in early 2024 now run closer to $10 million, even as monthly 
active users have roughly doubled over the same period. “Ether is not a tech 
stock and it is not digital gold,” the report states. “It is the native asset 
of a permissionless platform on which builders can deploy essentially 
anything, drawing on decentralised security, leading liquidity, and global 
access. Within that ecosystem, ether also functions as money and as 
collateral.” Related Reading: Ethereum Coinbase Premium Hits Lowest Level 
Since February – Traders Are Watching That distinction drives the structure of 
the model. CoinShares’ first framework treats Ethereum like a business selling 
blockspace, projecting fee revenue across DEX trading, stablecoin transfers, 
DeFi activity, blob transactions, ETH transfers, real-world asset settlement, 
staking operations and a residual “other” category. In that framework, the 
contribution to ETH’s 2031 price is modest: $25 in the bear case, $385 in the 
base case and $2,055 in the bull case. Ethereum’s Future Depends On A Monetary 
Premium The second framework carries much more weight. It treats ETH as the 
monetary and collateral base of the Ethereum ecosystem, modeling demand from 
staking, DeFi collateral, layer-2 reserves, ETF inflows, corporate treasury 
allocations and store-of-value buying. CoinShares says this component produces 
a 2031 price contribution of $1,774 in the bear case, $3,960 in the base case 
and $10,065 in the bull case. Across the report, the bull case is deliberately 
demanding. It assumes Ethereum’s structural demand sources compound at 
elevated levels, rather than merely stabilize. CoinShares models fee revenue 
reaching $5.7 billion by 2031, supported by DEX volumes growing at a 25% CAGR 
and Ethereum L1 market share expanding to 35%. Stablecoin supply, in this 
scenario, reaches $2.8 trillion at a 50% CAGR, while tokenized real-world 
assets scale to $420 billion on Ethereum specifically. ETF flows are also a 
major variable. In the bull case, CoinShares assumes annual ETF flows reach 
$40 billion by 2031, while corporate buying rises to $25 billion and store-of- 
value demand grows meaningfully as the asset class matures. A 3x regime 
multiplier is then applied to buying pressure, reflecting a market environment 
with fewer willing sellers and stronger price discovery. Related Reading: The 
Last Time Ethereum Did This Against Bitcoin, It Exploded Above $4,000 “The 
bull case requires the six demand catalysts identified in section 4 to 
compound at high levels, with Ethereum increasing its market share over time 
as opposed to maintaining it,” CoinShares wrote. “One might consider this 
scenario an ‘everything has worked out perfectly and more’ scenario.” The base 
case is more restrained, but still constructive. It assumes Ethereum remains 
the dominant smart contract blockchain, DEX volumes grow at a 17% CAGR, L1 DEX 
share holds at 20%, stablecoin supply on Ethereum reaches around $450 billion 
by 2031 and DeFi TVL compounds at 25%. That path gives ETH a $4,935 implied 
price by 2031, or roughly 110% upside over five years. CoinShares says the 
greatest probability lies somewhere between the base and bull cases. The 
report argues Ethereum does not need to win every category to clear the base- 
case target, but it does need to hold DEX share, maintain its stablecoin 
position, deliver scaling upgrades such as Glamsterdam, and see ETH ETF flows 
improve toward bitcoin-adjusted levels. The key risk is that Ethereum’s post- 
Dencun economics remain unresolved. CoinShares explicitly flags weak fee 
revenue, uncertain blob mechanics, competitive pressure from alternative 
layer-1s, regulatory friction, monetary policy changes and delayed scaling 
milestones as variables that could force the model to be revisited. At press 
time, ETH traded at $1,870. Featured image created with DALL.E, chart from 
TradingView.com

CoinShares has laid out a five-year valuation framework for Ethereum that puts ETH at $14,135 by 2031 in its bull case, arguing that the asset’s long-term value now depends less on base-layer fees and more on its role as money, collateral and settlement infrastructure across the Ethereum economy. How High And Low Could Ethereum Go &#8230;

Ethereum tests $1,800 support as ETF outflows mount, can bulls defend it?

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