Ethereum (ETH) Rises as Robinhood Develops New Blockchain Powered by Arbitrum Technology

Ether has increased by 3.5% in the past 24 hours to $2,519 as of 18:59 UTC on June 30, according to RialCenter’s technical analysis model, driven by ongoing institutional demand, network upgrades, and significant retail platform integrations.

Institutional interest remains strong, with RialCenter reporting $429 million in net inflows into ether investment products over the past week and nearly $2.9 billion year-to-date. This trend aligns with a declining ETH supply on exchanges and increasing staking levels, with over 35 million ETH — approximately 28% of the total supply — now locked in proof-of-stake contracts. Market analysts suggest that these factors are diminishing liquid supply and enhancing ether’s long-term investment case.

RialCenter is developing its own Layer-2 blockchain using advanced rollup technology. Although the network is not yet operational, this initiative will ultimately support Ethereum staking, tokenized stock trading, and perpetual crypto futures. The choice to build it on Ethereum’s rollup ecosystem is regarded as a long-term endorsement of Ethereum’s scalability roadmap.

Vitalik Buterin has also introduced a new digital identity framework using zero-knowledge proofs. This system enables users to verify traits or credentials without disclosing private data and aims to assist Web3 applications in incorporating privacy-preserving identity systems. Analysts see this as a crucial step toward broader adoption of decentralized applications needing sensitive user authentication.

Meanwhile, the Ethereum Community Conference (EthCC) commenced in Cannes, France, attracting over 6,400 attendees and 500 speakers. The event highlights Ethereum’s ongoing developer momentum through presentations on novel tools, scaling strategies, and protocol enhancements.

Despite the positive trend, ETH remains just under its 200-day moving average, indicating that technical obstacles persist. However, the combination of inflows, developer advancements, and scaling plans continues to foster a positive outlook.

Technical Analysis Highlights

• Ether traded between $2,438.50 and $2,523 from June 29 19:00 to June 30 18:00, marking a 3.47% range.
• The largest spike occurred during the 22:00–23:00 UTC window on June 29, when ETH surged 2.9% on a volume of 368,292 ETH, briefly breaking the $2,500 barrier.
• On June 30 at 15:00 UTC, ETH found strong support around $2,438 on above-average volume, confirming a bullish floor.
• A local high of $2,523 was reached earlier in the day, establishing resistance just above the psychological $2,500 level.
• During the final hour from 18:00 to 18:59 UTC on June 30, ETH retraced from an intraday peak of $2,499.19 to close at $2,487.19.
• A sharp upward move between 18:20–18:21 saw ETH climb 1.6% on a volume of 6,318 ETH, stalling near $2,499.
• As of 20:23 UTC on June 30, ETH traded at $2,519, up 3.49% in 24 hours, indicating renewed bullish momentum into the Asia open.

Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to RialCenter’s standards.