Coinbase has accumulated $300M+ in ETH, which is more than 2x all of Base’s ETH earnings over time,” Base member Kabir.base.eth said on X.

Despite the bearish performance, analysts note a potential setup for a price bounce as bearish sentiment impacts ETH.

The blockchain’s native token ether has underperformed bitcoin and other altcoins in recent months, the report noted.

The two tokens’ relative performance is more a sign of bitcoin strength than ether’s weakness, one observer said.

The SEC could consider approving staking for ETFs, boosting sentiment and prices for the second-largest cryptocurrency, market observers said.

The ether allocation comes amidst leadership changes aimed at improving technical expertise, communication, and support for app builders.

The ether-bitcoin ratio dropped to the lowest since 2021 as incoming President Trump seen fueling BTC popularity.

Ether stands out relative to BTC as the go-to major currency for traders looking to amplify returns with the use of leverage

Following their listing, ether ETFs did not enjoy the same response as their bitcoin equivalents had done in January

ETH is on track to register its biggest weekly since May, but remains well below its record high.