Ethereum’s price has stalled in recent weeks, but behind the flat candles the network is quietly asserting dominance in one of crypto’s fastest-growing niches: tokenized assets.
Data highlighted by Leon Waidmann, head of research at Lisk, shows Ethereum Layer 1 now controls more than 61% of the tokenized-assets market — roughly $200 billion of value settled on the mainnet. After sliding to around a 50% share during the multi-chain boom, Ethereum’s market share has been climbing since mid-2024, driven by its deep liquidity, battle-tested security and a mature DeFi ecosystem that appeals to both developers and institutions.
The reasoning is straightforward: when institutions move to tokenize real-world value, they often choose the chain with the deepest liquidity and the most proven infrastructure. That combination has helped ETH reclaim leadership in the sector as tokenized instruments and on-chain real-world assets gain traction.
Price action may be following suit. Technical analyst Ali Martinez says ETH has flashed a signal that the bearish phase could be losing steam. Key market structure shifts and indicators are supporting his view: the SuperTrend indicator has flipped from Sell to Buy for the first time since September, and similar flips in the past preceded sizable rallies (52% and 174% in the cited examples).
Under the surface, momentum metrics are improving. ETH reclaimed the $2,200 level as support after a 39% decline below that mark, and institutional demand appears to be picking up — ETFs have accumulated over 83,000 ETH (roughly $193 million) in the past three weeks. Having weathered volatile conditions from September 2025 through March 2026, Martinez sees the next meaningful overhead targets at $2,400 and $2,600.
Bottom line: while spot price movement has been muted, Ethereum’s on-chain fundamentals and institutional interest in tokenized assets are strengthening — a dynamic that could provide a foundation for renewed bullish momentum if market conditions continue to improve.
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