Recently, if you've been watching the market, you might have noticed an interesting phenomenon—Ethereum funds are quietly accumulating, but the price hasn't really reacted yet.

The money has already come in, yet the price is still hovering around $3,200. This is pretty much the current situation.

Since the beginning of this year, large amounts of capital have been continuously flowing into the ETH ecosystem. Strangely, the price hasn't shown much movement, as if it can't keep up with this heat. But during these slow and steady times, big moves are often hidden.

**The money is indeed flowing in with real cash**

Looking at the most concrete data makes this clear.

According to statistics, in the past 24 hours, the net funds flowing into Ethereum via cross-chain bridges amount to $35 million, ranking second among all tracked public chains. These funds mainly come from Layer 2 networks like Base and Polygon, flowing back to the Ethereum mainnet—such rotations usually indicate cross-ecosystem capital reallocation.

In simple terms: institutional funds are actively returning to Ethereum's "home base." Once capital concentrates on the Ethereum network, the first beneficiaries will definitely be ETH itself and the entire ERC-20 ecosystem. Activity, trading volume, and market demand will all rise accordingly.

**Stablecoins are accumulating, firepower is building**

A more critical signal comes from stablecoins.

The supply of stablecoins on the Ethereum chain is clearly increasing, with the total now reaching $164.86 billion. These stablecoins, to some extent, are like "gunpowder barrels" ready to fire at any moment in the market. The larger the scale, the more likely the market is brewing for the next move.