Ether Falls to $2,492.27 Despite $403.1 Million Ecosystem Stablecoin Influx

Ether dropped 7.1% over seven days to trade at $2,492.27, breaking below its $2,535–$2,559 support band despite robust stablecoin expansion. The broader Ethereum ecosystem, including Layer-2 networks Arbitrum One and Base, added $403.1 million in stablecoins over the week, with Ethereum itself adding $243.4 million to reach roughly $146.5 billion. However, this liquidity failed to translate into spot buying pressure amid broader headwinds. U.S. spot Ethereum ETFs recorded $634.80 million in cumulative net outflows in October, while derivatives Open Interest declined from nearly $18 billion in late September to $15.42 billion by October 10.