Today I noticed a pretty interesting divergence.
The amount of ETH staked on-chain reportedly reached around 43.8 million, a new all-time high.
In other words, more and more people are choosing to lock up their ETH and leave it untouched.
On the other hand, cumulative net outflows from spot ETH ETFs in October have already exceeded $1 billion, making it the worst month of the year.
Institutions are selling, while long-term holders are locking up their ETH.
These two groups are doing completely opposite things, and it’s impossible to say who’s right or wrong at this point.
But it does show one thing: not everyone in the market is pushing in the same direction.
My personal take is that the new staking high looks more like a show of long-term conviction.
Those locking up their ETH are betting that the Ethereum network will still be valuable in the future, not on whether it goes up next week.
But don’t mistake a staking high for a bullish signal.
More ETH being locked up doesn’t mean more ETH is being bought. Prices can still fall—and today, ETH followed the broader market back to around $2,370.
What do you make of this divergence?
Are long-term holders quietly positioning themselves, or are the institutions right to get out first?
$ETH $BTC
#以太坊 #质押 #CryptoMarket
This is not investment advice. DYOR. Trading involves risk.
The amount of ETH staked on-chain reportedly reached around 43.8 million, a new all-time high.
In other words, more and more people are choosing to lock up their ETH and leave it untouched.
On the other hand, cumulative net outflows from spot ETH ETFs in October have already exceeded $1 billion, making it the worst month of the year.
Institutions are selling, while long-term holders are locking up their ETH.
These two groups are doing completely opposite things, and it’s impossible to say who’s right or wrong at this point.
But it does show one thing: not everyone in the market is pushing in the same direction.
My personal take is that the new staking high looks more like a show of long-term conviction.
Those locking up their ETH are betting that the Ethereum network will still be valuable in the future, not on whether it goes up next week.
But don’t mistake a staking high for a bullish signal.
More ETH being locked up doesn’t mean more ETH is being bought. Prices can still fall—and today, ETH followed the broader market back to around $2,370.
What do you make of this divergence?
Are long-term holders quietly positioning themselves, or are the institutions right to get out first?
$ETH $BTC
#以太坊 #质押 #CryptoMarket
This is not investment advice. DYOR. Trading involves risk.