Ethereum (ETH) Daily Market Analysis 23 August 2026

Ethereum's rally hits strong ETF inflows but faces leverage-driven volatility risks – here's the latest: • Spot ETH ETFs saw ~$697M weekly inflows (ending 21 Aug), strongest since October 2025, with 5 consecutive days of positive flows • ETH trades at ~$2,422 (23 Aug), up 28.7% weekly but down 3.65% daily after hitting $2,500 monthly high • Long liquidations hit $96.96M in 24 hours (85.8% of total), signaling crowded bullish positioning • Open interest surged 19.45% to $31.52B, with funding rates positive but below extreme overheating levels • Glamsterdam upgrade enters early testing via Platåberget testnet (announced 17 Aug), with breaking changes expected for some developers