Despite facing technical pressure below $2800, Ethereum's fundamental advantages are strengthening. The network holds over 68% of the global DeFi total locked value (TVL), with deployed funds reaching $69 billion, and it is hosting over $191 billion in stablecoins. Institutional buying is accelerating, with Bitmine purchasing nearly 68,000 ETH worth over $200 million within 24 hours. Meanwhile, the supply of ETH on exchanges is declining, with Binance's exchange supply ratio dropping to its lowest point in months, laying the groundwork for a potential supply-driven price rebound.