Ethereum’s dominance in the DeFi space remains unmatched. Applications built on its network currently protect over $370 billion in user assets, significantly surpassing any other blockchain by nearly $290 billion. As stablecoins and tokenized assets gain traction, Ethereum remains central to the growth of the industry. The blockchain continued to dominate the DApp space, with around $370 billion in user assets safeguarded within its ecosystem. This signifies an impressive $290 billion lead over the second-largest ecosystem. Data indicates that Ethereum’s total value locked has seen a notable increase, aligning with the rise in stablecoins, lending protocols, and tokenized real-world assets.
The network sustained a 1.27x multiple of its ecosystem value, despite increasing competition from Solana, TRON, and Arbitrum. Tokenized assets play a crucial role in determining Ethereum’s market value. Market data shows that the market capitalization of tokenized assets on Ethereum, including stablecoins, often sets a foundation for the overall value of ETH. As more assets are issued and traded on-chain, Ethereum’s market cap generally shows an upward trend alongside these activities. The chart showed that the increase in tokenized asset value, noted in early 2022 and mid-2025, has closely matched the recoveries in ETH’s fully diluted market cap.
The energy seems to be diminishing as purchasers appear to be lacking enthusiasm. At press time, ETH was trading at $4,155 following a short attempt to break through resistance near $4,200. The RSI stood at 52.8, reflecting a neutral momentum after a pullback from the previously overbought levels seen earlier in the week. Meanwhile, the MACD indicated a slight bullish crossover; however, the diminishing green bars on the histogram suggested that buying strength was weakening.
Meanwhile, OBV held steady at 11.9 million, suggesting that volume support for further gains could be limited. Given the current data, ETH is encountering difficulties in maintaining upward momentum near short-term resistance levels during this phase of consolidation.