Ethereum Faces $2,350 Support as ETF Outflows and Large Sales Weigh
Ethereum's price hovers near $2,400 amid $110M ETF outflows and a major investor sell-off.
Ethereum's price hovers near $2,400 amid $110M ETF outflows and a major investor sell-off. Ethereum (ETH) is trading at $2,393.20, down 0.2% since this brief published. This is an original TLT brief based on reporting by TronWeekly, with live market data added, as of Fri, 23 Oct 2026 20:00:04 UTC.
The $110.6 million ETF outflows and $7.23 million ETH sale by an early investor signal potential near-term downward pressure on Ethereum's price, while the postponed upgrade raises concerns about development timelines.
- Ethereum price near $2,400 after $110.6M ETF outflows.
- Early investor sold 3,000 ETH for $7.23M.
- Glamorous Hoodi testnet upgrade postponed due to smart-contract issues.
- Ethereum Tests Key Support at $2.5K Amidst Volatility and Liquidations
- Bitcoin and Ethereum ETFs Suffer $390M Outflows Amid Market Downturn
- Ethereum ETFs Suffer Larger Weekly Outflows Than Bitcoin ETFs
- Ethereum Tests Critical Support Amidst 7% Weekly Decline
- Ethereum Faces $2,400 Support Test Amid $320M ETF Outflows
- Ethereum Price Recovers Despite ETF Outflows
- Ethereum Faces $2,350 Support as ETF Outflows and Large Sales Weigh — this brief
On October 23, 
Ethereum's price hovered near $2,400 as the cryptocurrency faced downward pressure from significant ETF outflows and a large sell-off by an early investor. According to blockchain tracker Lookonchain, an early investor sold 3,000 ETH, equivalent to $7.23 million, which may have contributed to the price pressure.
The outflows from US spot Ether ETFs totaled $110.6 million, suggesting institutional investors are reducing their exposure to Ethereum. This comes at a time when the broader crypto market remains relatively flat, with 
Bitcoin showing a modest 0.09% gain over the past 24 hours.
In addition to the market movements, Ethereum developers have postponed the Glamorous Hoodi testnet upgrade due to concerns over smart-contract compatibility. This delay could raise questions about the progress of Ethereum's development roadmap and its impact on the network's functionality.
The broader crypto market cap stands at $2.8 trillion, with Ethereum's market cap at $292.97 billion. Despite the negative news, Ethereum's price has shown resilience, gaining 0.75% over the past 24 hours, although it is down 0.30% over the last seven days.
The Fear & Greed index remains at 50, indicating a neutral market sentiment. Investors will be watching to see if Ethereum can hold the $2,350 support level and if the ETF outflows continue to impact the price.
Since this brief published about 1 hour ago, Ethereum (ETH) has moved from $2,397.83 to $2,393.20 — -0.19%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₦3.32M (about $2,393.20), up 0.4% over 24 hours. The naira itself trades about 4.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Ethereum Faces $2,350 Support as ETF Outflows and Large Sale — questions & answers
What caused Ethereum's price to drop?
Ethereum's price was affected by $110.6 million in ETF outflows and a $7.23 million ETH sale by an early investor.
Why was the Glamorous Hoodi testnet upgrade postponed?
The upgrade was postponed due to concerns over smart-contract compatibility.
What is the current market sentiment for crypto?
The Fear & Greed index is at 50, indicating a neutral market sentiment.
How much is 1 Ethereum worth in naira today?
About ₦3.32M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,393.20. The naira price moves with both ETH's US-dollar price and the USDT/NGN rate; use our Ethereum in naira page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is down 0.19% since this brief first published — trading at $2,393.20 now versus $2,397.83 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from TronWeekly. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.