Ethereum price analysis is being shaped by two separate developments: a technical pause in the next Glamsterdam testnet step and continued withdrawals from US spot Ether exchange-traded funds. The developments affect different parts of the market and should not be treated as a single causal chain.
Hoodi testing paused over compatibility risks
The Ethereum Foundation said on November 6 that AllCoreDevs had delayed the hardfork process and would not fork the Hoodi testnet until identified issues were resolved. The concern involves EIP-8037 and EIP-8038, which would change how gas is charged for certain operations and for state. The Foundation said Chainsecurity had found projects that rely on invariants that could be broken by the proposed changes.
The November 9 update added that four reports had identified deployed contracts that could break under the proposals. The Foundation said audit findings should be reviewed before deciding whether to revise the specifications or schedule the Hoodi upgrade. No new Hoodi activation date was given. The delay concerns testnet testing, not an announced interruption of Ethereum mainnet operations.
ETF flows remain a demand indicator
US spot Ether ETFs recorded USD 184.6 million of net withdrawals on November 9, according to Farside data reported by TradingView. BlackRock's ETHA accounted for USD 119.3 million of that total. The report said the November 9 outflow followed withdrawals of USD 99.9 million on November 5 and USD 93.3 million on November 6.
ETF flows measure demand through listed investment products, not the entire Ethereum economy. ETH can also be held directly, staked, used as collateral or exchanged through other venues. The flow data therefore provide an investor signal, but they do not by themselves establish the direction of network usage or predict the next ETH move.
Current ETH market snapshot
The Ethereum page at Investing.com displayed ETH at USD 2,056.91, with a reported market capitalization of USD 251.27 billion, 24-hour volume of USD 13.70 billion and a rank of 2. The page also showed a 52-week range of USD 1,507.60 to USD 3,645.25 and 122.21 million ETH in circulation.
For the required daily comparison, Yahoo Finance listed the November 10, 2026 UTC close at USD 2,056.86. The Investing.com reading was therefore USD 0.05 higher, equivalent to 0.0024 percent before rounding. This is effectively unchanged against that verified prior UTC close.
What investors should watch next
The next relevant milestones are the publication and review of the Glamsterdam audit findings, followed by a decision on the Hoodi schedule. In the market, investors can track whether Ether ETF withdrawals persist across completed sessions. Together, these indicators distinguish protocol-development risk from investment-product demand without turning either into a standalone trading signal.
More Ethereum coverage is available on the Ethereum topic page.
