40,000 ETH Added as Ethereum ETF Sentiment Shifts

According to on-chain analytics platform Glassnode, Ethereum ETFs experienced their first positive net inflow following eight straight weeks of outflows.

The inflow, while modest at around 40,000 $ETH, indicates a potential shift in sentiment toward $ETH exposure. Following months of continuous withdrawals from Ethereum funds, this reversal suggests that Ethereum might be seeing renewed institutional engagement as the broader crypto market recovers.

According to the most recent CoinShares data, the crypto market had $3.4 billion inflows last week, the third most on record as investors seek alternative safe havens, with Bitcoin leading the way with $3.18 billion, followed by Ethereum with $183 million.

At press time, $ETH was down 0.84% in the last 24 hours to $1783, reflecting profit-taking after achieving intraday highs of $1,857 on Sunday.

Having recently seen an on-chain capitulation as big as 2022, according to crypto analyst and founder of Capriole Funds Charles Edwards, Ethereum's Macro Index has (finally) begun to trend upward, indicating a reversal in the $ETH macro trend.

Ethereum researcher proposes 100-fold "exponential" gas limit

Ethereum researcher Dankrad Feist has proposed a 100-fold "exponential" gas limit boost to improve mainnet scaling.

A new EIP, 9698, by Feist proposes an exponential increase in the Ethereum gas limit, allowing it to grow 100x over four years through client-side defaults. This aims to create a predictable and sustainable gas limit trajectory, enhancing coordination and transparency in the gas limit adjustment process while maintaining backward compatibility with existing mechanisms.

Ethereum's next network upgrade, Pectra, will launch on the mainnet on May 7 at epoch 364032. Pectra introduces EIP-7702, various enhancements to the validator UX and the doubling of the blob count, among other things.