Ethereum's price stalls at 3200 dollars despite increased inflows — liquidity recovery is key

Despite large inflows into Ethereum (ETH), the price is showing limited movement around 3200 dollars. Although buying flows worth tens of billions of dollars have been detected since the start of the year, the market has not shown a clear price reaction yet. As the gap between inflows and price movement continues, investors are paying attention to the possibility of a delayed price response.

On the 8th (local time), AMB Crypto reported that, according to on-chain data platform Artemis, net inflows of bridged liquidity into the Ethereum network over the past 24 hours amounted to about 35 million dollars. This was the second-largest inflow among networks measured during the same period. The funds appeared to have moved from layer-2 blockchains such as Base and Polygon.

Bridged liquidity is used as an indicator showing capital movement between ecosystems. Increased inflows to Ethereum suggest the possibility of increased network activity centered on ERC-20 tokens. If liquidity concentrates on Ethereum, overall network transactions and demand could expand.

At the same time, the supply of stablecoins on Ethereum is also on the rise. The current stablecoin supply on the Ethereum network is about 164.86 billion dollars. This indicates that standby capital is accumulating in the market and leaves room for future asset allocation. It has also been suggested that Ethereum, the network's representative asset, could be affected by this liquidity.

Capital inflows were also observed in Decentralized Finance (DeFi) metrics. According to DeFiLlama, from the 1st to the 7th of this month, the Ethereum ecosystem's total value locked (TVL) increased by about 6.52 billion dollars. Over the past 24 hours, there was also a net inflow of about 178 million dollars. This shows that assets are being deposited into Ethereum-based protocols for the long term.

Exchange metrics also showed accumulation flows. According to spot exchange net outflow data, about 20.76 million dollars' worth of Ethereum was bought from the 3rd to the 6th of this month, followed by about 108.66 million dollars' worth of volume leaving exchanges. Generally, exchange outflows are interpreted as an indicator that long-term holding tendencies are strengthening.

Institutional investor participation continues. From the 4th to the 7th of this month, institutional investors were net buyers of about 457.2 million dollars' worth of Ethereum. It is also notable that net inflows occurred consecutively during that period. Some observers say that if large-scale inflows continue, they could affect price formation.

The market is watching for when current inflows will translate into price. Ethereum is seeing an accumulation of buying pressure, but short-term price responses are limited. A key variable mentioned is that delayed price movements may occur depending on the timing of future liquidity deployment.