TLDR
- Ethereum holds 47.1% of the $34.2 billion tokenized fund market, according to Token Terminal.
- A trader opened a $63.88 million ETH long, now up about $842,000, Lookonchain reported.
- Analyst LSTRADER says a close near $2,500 would confirm the bullish trend.
- ETH traded near $2,335 on October 25 after slipping below $2,300 over the weekend.
- Altcoin open interest is down almost $9 billion, and the ETH staking exit queue is down over 99% from its peak.
Ethereum is trading near $2,335 after a weekend pullback, with analysts watching the $2,500 level for a sign of recovery. The price dropped below $2,300 as Bitcoin fell under $80,000.
Token Terminal data shows tokenized funds have reached $34.2 billion across 33 blockchain networks. Ethereum holds 47.1% of that market. BNB Chain follows at 13.0%, and Stellar is third at 10.5%.
Tokenized funds can include assets such as government bonds and credit products held on a blockchain. A larger tokenized market does not automatically raise demand for ETH, since that depends on how much the network is used.
Smart Trader Opens a Large Long
Lookonchain reported that trader 0xe813 opened a long position of 26,974 ETH, worth about $63.88 million, after the market dip. The position shows an unrealized gain of about $842,000.
The same trader has a 100% win rate and earlier made $3.3 million trading NEAR, Lookonchain said. Unrealized profit comes from an open trade and can change with price moves.
Analyst Ted Pillows took a more cautious view in a post on X. He noted that ETH spot buyers are absent. He expects strong buyers near $2,200, followed by a reversal above $3,000.
$ETH spot buyers are absent.
IMO, Ethereum will find strong buyers around the $2,200 level and then a reversal above $3,000. pic.twitter.com/XOEZWUzVSI
— Ted (@TedPillows) October 25, 2026
What the Charts and Analysts Say
Analyst LSTRADER says Ethereum’s bullish structure holds as long as the price stays in its current accumulation zone. He has tracked ETH since around $1,800 and marked buying areas and resistance levels.
$ETH BIG PLAN HASN’T CHANGED ⏳
We’ve been tracking $ETH since around the $1,800 level in our weekly updates. I marked the first resistance and accumulation zones as a colored area to show where we could experience these reactions.
We’re now in the area where we could see the… https://t.co/kPXHR25rUO pic.twitter.com/V43R86unV0
— LSTRADER (@LSTraderCrypto) October 25, 2026
LSTRADER says a daily close near $2,500 would confirm the bullish trend. ETH sits about $165 below that mark. A drop below the support area would put the setup under pressure.
The weekend sell-off came as President Donald Trump hinted at possible U.S. action against Iran. Brent crude rose 2.8% to $118 a barrel, its highest level since 2022.
Thin weekend order books added to the selling. Chain liquidations of long positions pushed prices lower. Some traders called the move a washout.
CoinGlass data shows altcoin open interest is down almost $9 billion from its local peak. That points to a large leverage flush. Ethereum is also nearing a whale liquidation zone, which keeps downside risk in play.
The ETH/BTC ratio is near 0.28, a level that led to a near 15% rally when last tested in August. The ratio is close to a fifth straight lower low.
Staking data adds another angle. ValidatorQueue shows the entry queue is up more than 11%, adding about 140,000 ETH. The exit queue has fallen over 99%, from 282,000 ETH to 3,500 ETH.
Bitcoin dominance is near 60% and the market is consolidating. As of October 25, ETH remains below $2,500, with LSTRADER’s accumulation zone and the $2,200 area cited by Ted Pillows in focus.
