$ETH
ETHEREUM: AVAILABLE SUPPLY RISES AS DEMAND WEAKENS.
Ethereum is going through a difficult week. ETH is down 4.45% and trading near $2,504, while several indicators point to increased selling pressure.
One of the most notable figures is exchange reserves, which rose from 14.59 million ETH at the end of September to approximately 14.93 million on October 14, reaching their highest level in a month.
Significant transactions among large holders were also recorded. A whale sold 9,996 ETH for around $25 million, while POAP founder Patricio Worthalter deposited another 10,000 ETH into Gemini.
U.S. demand is also showing weakness. The Coinbase Premium Index fell to -0.1173, its lowest level in two months.
Meanwhile, spot Ethereum ETFs recorded outflows for ten consecutive trading sessions, totaling approximately $782.6 million. Although $24.8 million flowed in on October 13, the monthly balance remains negative by around $695.4 million.
With ETH down 6.47% so far in October, available trading reserves and institutional flows continue to point to selling pressure.
#ETH #crypto #TradingCommunity #TrendingTopic #futures
TRADE HERE 👇
ETHEREUM: AVAILABLE SUPPLY RISES AS DEMAND WEAKENS.
Ethereum is going through a difficult week. ETH is down 4.45% and trading near $2,504, while several indicators point to increased selling pressure.
One of the most notable figures is exchange reserves, which rose from 14.59 million ETH at the end of September to approximately 14.93 million on October 14, reaching their highest level in a month.
Significant transactions among large holders were also recorded. A whale sold 9,996 ETH for around $25 million, while POAP founder Patricio Worthalter deposited another 10,000 ETH into Gemini.
U.S. demand is also showing weakness. The Coinbase Premium Index fell to -0.1173, its lowest level in two months.
Meanwhile, spot Ethereum ETFs recorded outflows for ten consecutive trading sessions, totaling approximately $782.6 million. Although $24.8 million flowed in on October 13, the monthly balance remains negative by around $695.4 million.
With ETH down 6.47% so far in October, available trading reserves and institutional flows continue to point to selling pressure.
#ETH #crypto #TradingCommunity #TrendingTopic #futures
TRADE HERE 👇