On Monday, Ethereum (ETH) fell short to $ 2200. It is now clear that investors have struck fully and bought the dip. Almost $ 1 billion in ETH was admitted of centralized trade fairs. This marks the largest net outflow in more than a year.
Investors seize their chance
The sudden ‘flash crash’ came after worrying about a possible trade war on risky assets, which resulted in a sharp fall in the ETH price. According to data from Intotheblock, the outflow of ETH on Monday was exceptionally high. “This indicates that traders have bought the dip and picked up ETH at lower prices,” said the analysis company.
The panic on the market ensured that ETH plumbled up to $ 2,000 at some stock markets. In the meantime, however, the price has been restored to around $ 2,800. It is striking that data from ultrasound.Money demonstrates that the deflatory effect of the Ethereum Merge is starting to take, which means that less ETH is burned than before.
Ethereum ETF’s Books Record Volume
In addition to the extreme volatility on the ETH spot market, ETH Exchange-Traded Funds (ETFs) also saw unprecedented trading activity. On Monday, around $ 1.5 billion was traded in the nine ETFs available on the American market. Half of this volume came from BlackRock’s Ishares Ethereum Trust (ETHA), which underlines its dominant position in the market.
Nevertheless, the net inflow figures remained within the normal margins. According to Farside Investors, the ETFs saw a total net inflow of $ 83.6 million, with the largest part going to Fidelity’s Ethereum Fund (Feth). Remarkably, Etha herself did not see a net inflow on this boisterous day.
Later in the day, Eric Trump, son of President Donald Trump, joined the discussion. On X he encouraged his followers to buy ETH, which directly led to even more volatility on the market. ETH rose briefly to almost $ 2,900, but then dropped back. At the time of writing, Ether is traded for $ 2,818, an increase of 3.5% compared to yesterday.
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Source: https://newsbit.nl/ethereum-uitstroom-van-1-miljard-investeerders-kopen-massaal-de-dip/
