Ethereum investors are making moves to protect their investments amid market uncertainty. Large-Scale Withdrawals In the past week, a whopping 260,000 ETH (worth $800 million) has been withdrawn from centralized exchanges. Exchange Deposits vs. Withdrawals Exchange deposits and withdrawals indicate investor sentiment. Large deposits suggest selling intentions, while withdrawals suggest accumulation. Bullish Implications The mass…
Anticipated Decision Ethereum (ETH) has taken a 5% hit in the past day due to speculation that the SEC will reject upcoming spot Ethereum ETFs. US Bitcoin ETF issuers expect the SEC to deny their applications, based on recent meetings that were reportedly “one-sided.” SEC’s Concerns The SEC has not provided specific reasons for its…
Justin Sun’s ETH Accumulation Tron founder Justin Sun has been on a buying spree, accumulating 127,388 ETH (over $400 million) since April 8th. This suggests that Sun is bullish on Ethereum despite its recent price fluctuations. Sun’s Previous ETH Purchases Lookonchain, an on-chain analytics platform, believes the wallet used in these purchases likely belongs to…
Open Interest: A Sideways Trend Ethereum’s Open Interest, the total number of derivative contracts open, has been hovering at low levels after a sharp drop during the recent price decline. This suggests a cooling down in the futures market. Funding Rate: A Shift to Negative The Ethereum funding rate, which tracks fees paid between derivative…
A New Whale Emerges A mysterious Ethereum whale has been on a buying spree, snatching up over $405 million worth of ETH since March 31st. Justin Sun Connection? The blockchain research firm Lookonchain suspects that the whale may be none other than Tron founder Justin Sun. This is based on similarities in activity between the…
The crypto market has been a rollercoaster lately, and Ethereum (ETH) is no exception. But there are some key metrics that can give us clues about where ETH might be headed. Bullish Signs Investors are optimistic: Most Ethereum investors are still betting on it going up in the long run. Whales are buying: Even after…
Skepticism Grows As the May deadline for Ethereum Spot Exchange-Traded Funds (ETFs) approaches, skepticism is growing. Nate Geraci, president of ETF Store, believes the SEC is unusually quiet about the ETFs and suggests they may not be approved due to less engagement with issuers. Behind-the-Scenes Activity? Some speculate that discussions may be happening behind closed…
Accumulation Phase Ethereum investors are actively accumulating the cryptocurrency, with over $500 million worth of ETH withdrawn from exchanges in the past week. This outflow is the highest since February, indicating that investors are confident in Ethereum’s long-term value. Whale Activity Whale transactions have also increased, with outflows from exchanges exceeding inflows. This suggests that…
Ethereum (ETH), the crypto giant, is experiencing a mix of good and bad news. USDT Inflow: A Sign of Hope? Tether, the issuer of the popular stablecoin USDT, recently transferred a massive $318 million worth of USDT to Ethereum exchanges. This suggests that investors may be anticipating increased demand for USDT, which could lead to…
Revenue Model Ethereum generates revenue by charging transaction fees to users. These fees are burned, reducing the supply of ETH and increasing its value. The blockchain also issues new ETH as rewards to validators, but this dilutes the holdings of existing ETH owners. Reduced Transaction Costs The Dencun upgrade and the introduction of blobs reduced…
