Ethereum Price Jumps 3% Amid Tokenization Boom, But Onchain Metrics Raise Caution

Ethereum's price surged 3% between Thursday and Friday, outperforming the broader crypto market. This move is attributed to growing tokenization efforts, the success of Robinhood Chain, and ongoing corporate treasury purchases.

The launch of Robinhood Chain has been a significant factor in boosting Ether investors' sentiment. The layer-2 network uses ETH as its native gas token and has attracted $106 million in bridge deposits.

Ethereum dominates the RWA market with a 47% market share, according to Rwa.xyz data. However, despite these positive developments, onchain metrics point to overall stagnation, with decentralized applications generating $11 million in weekly revenue, down from $20 million in the first quarter of 2026.

The ETH perpetual futures annualized funding rate dropped to 3%, below the 6% neutral threshold, signaling weak demand for bullish positions. Institutional inflows likely explain the latest price gains, with BitMine accumulating heavily and holding $10.3 billion in reserves.