Ethereum (ETH) Absorbs $9.23M in Five-Hour Spot Inflows, Second Only to Bitcoin

Stablecoins Carried the Five-Hour Bid

Ethereum (ETH) absorbed $9.23 million across spot venues in the five hours to about 05:30 UTC on Sunday, second among the coins that took in fresh capital in that stretch, aggregate flow data compiled by CryptoMeter shows. The window is the aggregator's own dating, five hours, not a rolling daily count, so the ranking measures the pace of rotation rather than the day's full ledger. Bitcoin (BTC) led the same stretch with $18.50 million in gross inflows, and Wrapped Bitcoin (WBTC), a tokenized version of Bitcoin issued through a bridge protocol, ranked third at $2.87 million. The bid arrived into a soft tape: the Ethereum (ETH) price sits near $2,359, down 0.8% over 24 hours and 0.2% below its level when the window closed. Most of the money that reached coins came through stablecoins rather than fiat rails. Conversions routed $29.51 million of USDT, $5.90 million of USDC, $1.61 million of FDUSD and $1.24 million of BFUSD into other crypto assets. Direct fiat on-ramps were smaller: $1.76 million in US dollars and $1.55 million in Brazilian reais. Every conversion behind these prints settles on-chain, and our Etherscan review explains how to read those transfers line by line. Behind the order book, the mix means the Ethereum (ETH) inflow was funded largely by stablecoin rotation rather than new cash, a pattern that moves coins between hands instead of adding market-wide exposure. These figures count on-exchange spot conversions, a separate channel from ETF creations and redemptions, which settle with issuers. After the top three, inflows thinned quickly: ZEC drew $2.18 million, the AI token $1.91 million, BNB $1.77 million, SOL $1.46 million and T $1.06 million. For running coverage of the asset, COINOTAG's Ethereum tag hub collects the flow history.

The $17.07M Exit Leg

The exit side of the same five-hour window changes how that leaderboard reads. Bitcoin shed $17.07 million in the stretch, the largest single-coin outflow in the aggregate, so its $18.50 million of gross inflow left it ahead by only about $1.4 million once the exit leg is netted. Ethereum carried no comparable outflow line in the listed aggregate, which makes its $9.23 million the largest net addition among the majors in the window, and the only one of the top three names that ends the stretch clearly ahead. Summed across the listed lines, coin inflows came to about $39 million against roughly $25 million in outflows, before the stablecoin and fiat legs are counted. Behind the leaders, outflows spread across BNB at $2.59 million, XRP at $1.95 million, PEPE at $1.37 million, LTC at $1.14 million and ERA at $1.00 million. Money leaving coins did not all leave the market: $8.75 million of the outflow pooled into USDT and another $1.46 million into USDC. A larger slice was cashed out to fiat, $16.51 million in US dollars, alongside $3.36 million in Korean won and $0.55 million in euros. That split matters for interpretation: stablecoin pooling keeps the selling pressure inside the market, ready to be redeployed, while the $16.51 million dollar cash-out takes it out of crypto for now. Neither the dollar cash-out nor the won leg has a stated destination in the data; the aggregate records direction, not the seller. The Bitcoin (BTC) leg is the cleaner case study, since its gross and net land in nearly the same place. COINOTAG has separately recorded a 169,770 ETH daily exchange outflow, the largest in four months, on the withdrawal side of Ethereum's ledger.

$2,328.49 Under, $2,398.70 Over

$2,328.49 is the nearest floor under those flows on our composite score, a 100 out of 100 convergence of the 100-day simple moving average, the 200-day exponential average, pivot points and the 0.500 Fibonacci retracement. Resistance at $2,398.70 carries the same 100 score at the EMA 100 and the 0.382 retracement. Spot trades at $2,359, 0.2% below where it stood when the flow window closed and down 0.8% over 24 hours; RSI reads 37.19 and the trend filter is still bearish. Perp funding sits at 0.0050% with open interest at $9.84 billion, so the five-hour bid has not re-leveraged the book, and the Fear & Greed Index reads 54, neutral. A close through $2,398.70 would test whether the stablecoin-funded demand extends; losing $2,328.49 would hand the window's net buyer a drawdown instead. Netted within the five-hour span this piece opened with, the verdict holds: Ethereum (ETH) took the demand, Bitcoin's washed out. The fuller Ethereum technical analysis sits on our dedicated page.