This week, exchanges saw a net inflow of 62,000 ETH, approximately $231 million
PANews reported on May 22, according to CoinDesk, that as traders flocked to exchanges with $231 million (62,000 ETH) in anticipation of an ETF, the market is expected to experience volatility. Analysts indicate that a large influx of ETH into exchanges typically signals increased selling pressure, which may lead to heightened price fluctuations. Currently, market sentiment is high, and investors are optimistic about the upcoming Ethereum ETF, driving recent capital flows and market activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: Binance launches pre-market spot trading, Caroline Ellison gets sentenced to two years in prison, Hamster Kombat teases roadmap and more
Binance has launched a pre-market spot trading service that uses “actual tokens.”Former Alameda CEO Caroline Ellison was sentenced to two years in prison for her role in the collapse of FTX.Hamster Kombat teased token buybacks, NFTs and the launch of a web app ahead of its highly-anticipated airdrop.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Australia Cracks Down on Crypto: New Regulations Aim to Shield Investors
Friday's end-of-month bitcoin options expiry could trigger significant market volatility: Deribit
Friday’s end-of-month bitcoin options expiry could significantly impact market volatility, according to Deribit CEO Luuk Strijers.Major cryptocurrencies, such as bitcoin and ether, have traded flat over the past 24 hours.
Telegram Wallet temporarily blocked for UK users due to restructuring