News

Ethereum Sees Largest Exchange Inflows Since January Amid Selling Pressure

Over 150,000 ETH was deposited into exchanges yesterday, marking the highest daily inflow since January.

Such a significant influx of Ethereum into exchanges is often a signal of rising selling pressure, as investors may be positioning themselves to either lock in recent profits or mitigate potential losses in response to market fluctuations.

ETH is currently trading at its lowest value against Bitcoin in more than 40 months, a trend that highlights growing concerns among investors.

While Bitcoin exchange-traded fund (ETF) flows have been predominantly positive, Ethereum has faced a contrasting situation, with most ETH ETFs experiencing outflows.

This suggests that institutional investors are gravitating toward Bitcoin, favoring its perceived stability over Ethereum’s higher risk and potentially higher-reward profile.

Related Post

Ethereum Spot ETF Record Over The Weekend 

Despite this overall trend, Ethereum did see a bright spot on September 19. The Ethereum spot ETF recorded a total net inflow of $5.2352 million, with BlackRock’s ETHA ETF contributing the entirety of that amount in a single day. However, this inflow has been overshadowed by the broader outflow trend, further fueling concerns about Ethereum’s near-term market outlook.

As Ethereum struggles to maintain its value against Bitcoin and faces increasing selling pressure, the market will be closely watching how institutional players continue to respond. If Ethereum’s risk-reward dynamic remains less appealing compared to Bitcoin’s stability, it could lead to further outflows and more downward pressure on ETH prices in the coming weeks.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: nexusplexus/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

Cheems Surge On BSC Network: A Rising Star With Growing Market Value

The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…

28 mins ago

Lester Token Crashes 40% Following Official Announcement

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…

31 mins ago

From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…

36 mins ago

Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge

The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…

39 mins ago

$ELIZA Token Launch Marred By Insider Trading Allegations

The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…

49 mins ago

Cardano’s Rally Highlights Diverging Moves Among Investors

Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…

52 mins ago