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Investors in “waiting mode” as ethereum drops below $4,000, ETFs see $428.5 million in outflows

Looking on-chain, stablecoin activity on ethereum crossed an all-time high of 1 million unique weekly stablecoin senders.

Sage D. Young

As the price of ethereum dropped below the $4,000 level, a 3.8% decline in the last 24 hours, spot ethereum ETFs notched one of their highest daily net outflows ever, marking three consecutive days of capital exiting from the funds.

On Monday, the ETFs saw $428.5 million in outflows, which is the fourth-highest daily loss since the funds’ inception, data from SoSoValue shows. 

Julio Moreno, head of research at data analytics platform CryptoQuant, said traders remain in “waiting mode” after the weekend retrace, pointing to a small increase in open interest for futures markets and funding rates remaining at low levels.

“Although there has been a recovery from the lows after the price correction, the market structure is still damaged and traders/investors have not bought back ETH at the levels before the correction,” Moreno told Sherwood News. 

Stablecoin activity climbs to new records

Meanwhile, ethereum’s stablecoin activity is growing to new heights in terms of unique weekly senders, a sign of increasing adoption.

The last two weeks each saw an all-time record of over 1 million unique stablecoin senders on the ethereum blockchain, a jump from 2025’s average of 720,000 senders and the roughly 400,000 weekly senders averaged between January 2020 to July 2024, per a report from The Block

Ethereum’s stablecoin supply stands at $163.2 billion, making up nearly 54% of the entire supply of stablecoins across all blockchain networks, including solana, Tron, BNB Chain, Arbitrum, and Base, per on-chain data firm Artemis

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants. 

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platforms goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The tokens all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

$82B

Crypto money laundering activity totaled more than $82 billion in 2025, more than 8x higher than 2020’s figure of $10 billion, according to a Tuesday report published by crypto analytics firm Chainalysis. Chinese-language networks dominated the ecosystem, accounting for roughly 20% of the illicit activity, or $16.1 billion, last year:

“Compared to other laundering endpoints, since 2020, inflows to identified CMLNs [Chinese-langugage money laundering networks] grew 7,325 times faster than those to centralized exchanges, 1,810 times faster than those to decentralized finance (DeFi), and 2,190 times faster than intra-illicit on-chain flows.”

Tom Keatinge, director at the Centre for Finance & Security at security think tank Royal United Services Institute, told Chainalysis that the rapid development of Chinese-language networks is an “an unforeseen consequence” of China’s imposition of capital controls.

“Wealthy individuals seeking to move money out of China and evade these controls provide the impetus and liquidity pool needed to service organized crime groups based in the West,” he noted.

Keatinge told Chainalysis, “The professional enablers of this capital flight provide the services necessary to match these two independent yet mutually beneficial needs.” 

Chinese-language networks offer six primary money movement techniques to clean dirty money, which include recruiting individuals to rent out their financial identities, selling illicit cryptocurrency at a discounted rate, and obscuring fund origins through multiple transactions. 

Overall, this Chinese ecosystem processed nearly $44 million per day last year. 

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.