Ethereum (ETH) has experienced a difficult time in the past period. The coin not only lags behind Bitcoin (BTC), but also gets strong competition from other smart contract platforms such as Solana (SOL).
Since the beginning of February, ETH has not been able to break the important $ 3,000 limit and over the past 30 days the rate has fallen by 19.42%. Nevertheless, the evidence is accumulating that a better period for Ethereum is approaching.
Less sales pressure due to derivatives outflows
One of the most important signals comes from the derivatives markets. On 6 February, crypto analysts registered a net outflow of 300,000 ETH on derivatives fairs, worth around $ 817.2 million. This is the biggest outflow since August 2023. Cryptoquant analyst AMR Taha sees this as a positive signal: “The increase in Ethereum that is achieved from derivaten fairs reduces the direct supply that is available for sale.”
Bron: CryptoQuant
If investors get their Ethereum from derivatives platforms, this often means that they close their lifting tree positions and possibly move their ETH to Cold Storage. This ensures less sales pressure, which is favorable for the price.
Crypto-commentator Kyle Bapts also emphasizes the bullish character of this development: “Large movements such as these usually mean less sales pressure and the closing of large positions-often a positive signal.”
New catalysts for Ethereum
In addition to the decreasing sales pressure, there are other factors that can have a positive influence on the ETH race. An important development is the possible approval of a ‘Staked Ethereum ETF’. This would mean that institutional investors gain access to a fund in which ETH is fixed, which could further increase demand. Joe Lubin, founder of Consensys, recently said to Cointelegraph: “We are talking to ETF providers and they are already working hard on this. They expect that this will be approved in the reasonably short term. “
Moreover, there seems to be more and more attention from the American political atmosphere. Eric Trump, son of President Donald Trump, recently posted: “It’s a great time to add ETH.” In addition, the World Liberty Financial project of Trump’s team continues to increase its Ethereum stock. These types of signals can contribute to an increasing demand for ETH.
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Source: https://newsbit.nl/positieve-signalen-voor-ethereum-krijgen-we-toch-nog-een-bullrun/
