Is Ethereum cheaper in the U.S? Demand is starting to fade and…

ambcryptoPublished on 2026-03-25Last updated on 2026-03-25

Abstract

Ethereum's current stability may be misleading, as underlying demand, particularly from U.S. investors, is weakening. The Coinbase Premium Index remains negative, indicating ETH is trading cheaper on Coinbase compared to Binance due to lower buying pressure or increased selling in the U.S. This persistent discount exists even during brief price recoveries, suggesting weak sentiment among American investors. While large players (whales) remain active with consistently high average order sizes dominating spot activity, retail participation is notably absent. This one-sided market structure, reliant on whales without broader retail support, lacks staying power and makes any price upside fragile. Technically, Ethereum is holding above $2,100 but appears shaky. The RSI is neutral, while the MACD is flat, signaling a loss of momentum in its recent push. Derivatives data align with this caution: Open Interest has declined from earlier highs, indicating traders are stepping back, and Funding Rates, while positive, show a lack of aggressive long positioning.

Ethereum [ETH] may not be as strong as it seems right now. While the price might look momentarily steady, there’s more to this than what meets the eye.

Large players have continued to stay active, but will this pace hold without retail support?

Not enough demand for Ethereum

According to a recent report, Ethereum faces weaker demand from U.S investors, even with global activity. The Coinbase Premium Index, which compares ETH prices on Coinbase and Binance, was negative with a value of around -0.0149 at press time.

Source: Cryptoquant

Put simply, this means Ethereum [ETH] might be trading cheaper on Coinbase, than on Binance. That means lower buying pressure or a hike in selling in the U.S.

Here, what’s interesting is that this gap has persisted even during a recovery. No matter how brief it may be. A move back towards neutral or positive levels, however, would prove improved sentiment and stronger support from U.S investors.

The whales are here, but retail is not

Things get clear when looking at order flow. While U.S demand has been weak, large players have been active in the market.

In fact, CryptoQuant data highlighted consistently elevated average order sizes. So, whale-sized trades have been dominating Ethereum’s spot activity.

Source: Ethereum

What’s missing, however, is retail participation. There’s little indication of smaller order flows picking up alongside these larger trades. The market structure has been pretty one-sided.

Such setups may lack staying power.

Steady, but not quite powerful

Source: TradingView

On the daily chart, Ethereum [ETH] held on above the $2,100-zone. However, it looked shaky at best. Especially since while the RSI was at neutral levels, the MACD was flat. Put simply, its recent push has been losing strength.

Source: Coinalyze

Derivatives numbers appeared to be of a similar vein too. Open Interest fell lower from earlier highs – A sign that traders may be stepping back.

At the same time, Funding Rates suggested longs were still dominant… but not aggressively so.

Final Summary

  • Ethereum doesn’t have much U.S demand.
  • Whale activity has been dominant, but lack of retail support makes any upside fragile.

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
aPrioriAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
cake
PancakeSwapCAKE
jst
JUSTJST

Related Questions

QWhat does the negative Coinbase Premium Index indicate about Ethereum demand in the U.S.?

AThe negative Coinbase Premium Index indicates that Ethereum is trading cheaper on Coinbase compared to Binance, suggesting lower buying pressure or increased selling activity from U.S. investors.

QHow has whale activity contrasted with retail participation in Ethereum's market?

AWhale activity has been consistently elevated with large order sizes dominating spot trades, but retail participation remains weak with no significant increase in smaller order flows.

QWhat technical indicators suggest Ethereum's recent price push is losing strength?

AThe RSI is at neutral levels and the MACD is flat, indicating that Ethereum's recent upward momentum is weakening despite holding above the $2,100 zone.

QWhat does the decline in Open Interest and neutral Funding Rates imply for Ethereum's derivatives market?

AThe decline in Open Interest suggests traders are stepping back, while neutral Funding Rates indicate longs are dominant but not aggressive, reflecting cautious sentiment.

QWhy might Ethereum's current market structure lack staying power according to the article?

AThe market structure lacks staying power because it relies heavily on whale activity without broader retail support, making any potential upside fragile and unsustainable.

Related Reads

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

Ray Dalio, founder of Bridgewater Associates, warns in an interview that the current AI boom shows classic bubble characteristics, which could lead to significant economic downturns as seen in past cycles like 1929 or 2000. He explains that speculative enthusiasm, fueled by debt and overvaluation, often precedes a crash when rising rates or taxation force asset sales, causing widespread losses and recession. Dalio also outlines his "Big Cycle" theory, describing an approximate 80-year pattern where widening wealth gaps, massive government deficits, and shifting geopolitical power (like China's rise) create internal conflict and global instability. He emphasizes that we are in a late-cycle, transitional phase where traditional powers like the US and UK face decline. For personal wealth protection, Dalio advises diversification beyond cash into assets like stocks, bonds, real estate, and particularly gold, which he prefers over Bitcoin. While he holds about 1% of his portfolio in Bitcoin as a non-printable hard asset, he views gold as more secure from technological or governmental threats. Regarding AI's impact, Dalio believes it will disproportionately benefit capital owners, worsening inequality by replacing both physical and cognitive labor. He suggests that human intuition and emotional intelligence, combined with AI, will be key for future workers. On taxation, Dalio argues that wealth taxes are impractical and risk triggering asset sell-offs, reducing productive investment. He points to the UK as a cautionary example of debt, low productivity, and political strife. Geopolitically, Dalio foresees a more regionalized world, with the US showing weakness in prolonged conflicts like with Iran, akin to past imperial declines. The ideal outcome, he suggests, is coexisting powerful blocs (e.g., Americas, China-Asia Pacific) without major war.

marsbit3h ago

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

marsbit3h ago

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

South Korean stock market sees a dramatic shift in fund flows. On July 31, foreign investors made a record net purchase of approximately KRW 7.2 trillion in KOSPI stocks, marking a fundamental reversal from the persistent large-scale net outflows seen in previous months. This contributed to a significant narrowing of foreign net selling in July to KRW 9.8 trillion, down sharply from KRW 48.4 trillion in June and KRW 44.5 trillion in May. Simultaneously, domestic institutional pressure eased. South Korean pension funds and asset managers turned to a net buying position in July, purchasing KRW 1.0 trillion worth of KOSPI shares, contrasting with net sales in May and June. Market volatility is expected to be dampened by new financial regulations. Effective July 31, the Financial Services Commission tightened access for retail investors to single-stock leveraged ETFs by raising the minimum cash deposit requirement. Trading volumes for these products subsequently dropped to about 50% of their monthly average. Citigroup Research maintains its year-end KOSPI target of 10,000 points. The firm cites several supportive factors: the substantial easing of headwinds from capital outflows, a robust fundamental outlook for the semiconductor sector, historically low market valuations, strong economic fundamentals, and the potential for policy support from financial authorities if needed.

marsbit3h ago

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

marsbit3h ago

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

OpenAI's next-generation AI model Astra achieves breakthroughs in 10 long-standing mathematical conjectures. The results, including constructing the first known infinite, finitely presented non-sofic group—resolving a major question since 1999—and advancing the high-dimensional sphere packing problem beyond a 46-year-old barrier, are detailed in a 249-page paper. Key proofs have been formally verified using Lean 4. The AI also refuted a rigidity conjecture by Fields Medalist Alain Connes. According to OpenAI, generating these proofs cost under $2,000. Experts describe the findings as potentially Fields Medal-worthy and a landmark moment for both mathematics and AI, showcasing the model's ability to produce profound, human-like reasoning across diverse fields like group theory, geometry, and operator algebras.

marsbit4h ago

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

marsbit4h ago

How to Make Yourself Irreplaceable by AI Forever

This article argues that the primary threat from AI is not job replacement, but remaining trapped in "wage slavery"—financial dependence on employers. The path to becoming irreplaceable is not resisting AI, but becoming an "unemployable" individual who builds their own meaningful enterprise. The author identifies five key elements for this: Agency (acting without permission), Taste (judging what's worthwhile), Persuasion, Persistence, and Iteration. The solution is to stop being a "pawn" in someone else's game. To start, you must fundamentally change your identity and environment, then engage in rapid, real-world trial and error. While both coding and creating media (content) are powerful, content is more crucial. AI can generate assets, but true value lies in subjective, human-driven content that builds trust and narrative. The actionable advice is to carve out 15 minutes to answer foundational questions: 1) Uncover your "raw material"—what you know deeply or solve effortlessly. 2) Define your contrarian perspective—what common beliefs you think are wrong. The intersection of these answers is your direction. Finally, you must launch by publishing your first core idea immediately, using the feedback to iterate and develop the skills needed for a self-directed life and career.

marsbit5h ago

How to Make Yourself Irreplaceable by AI Forever

marsbit5h ago

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

The article discusses using dice rolls to generate secure Bitcoin wallet seeds, providing entropy independent of potentially flawed hardware random number generators. It explains that each fair dice roll offers about 2.585 bits of entropy, with around 50 rolls needed for a standard 12-word seed phrase and 99+ recommended for higher security. This method gained attention after a vulnerability was revealed in some Coldcard hardware wallets, where a faulty firmware RNG (dating back to 2021) compromised generated keys. The analysis notes that while a dice-generated main seed was safe from this specific flaw, other Coldcard functions (like creating paper wallets, backup keys, or passwords) could still be vulnerable if they used the defective RNG. The piece argues that while dice-based entropy is technically robust, the manual process is error-prone, tedious, and unrealistic for most new users, who might make mistakes in recording or inputting rolls. It concludes that while manual entropy generation should remain an option for advanced users, the long-term goal is to develop reliable, user-friendly hardware and software that securely generates randomness without requiring specialized knowledge. Coldcard users are advised to check their firmware version and replace any secondary secrets (like paper wallet keys) created with vulnerable devices, while also considering multi-signature setups with devices from different manufacturers for added security.

cryptonews.ru8h ago

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

cryptonews.ru8h ago

Trading

Spot

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ETH (ETH) are presented below.

活动图片

Top Questions