Ether crashes 8% as ETH ETFs record heavy outflow
Share link:In this post: Ether price drops to the $3,100 zone as selling pressure spikes. Ether ETFs saw a $133 million outflow on July 24, with a trading volume of $1.05 billion. Grayscale ETH Trust ETF had a $327 million outflow, while Fidelity Ether ETF recorded a $74.4 million inflow.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or co
On Thursday, Ether’s price dropped below the $3,200 level as the recently launched ETH exchange-traded funds (ETFs) reported an outflow of $133 million. Other large cap cryptos, including Bitcoin (BTC) and Solana (SOL), also printed red indexes in the last 24 hours.
Also read: Grayscale leads $113.3M outflow in spot Ethereum ETFs on day 2
ETH price dropped by more than 8% over the last day dragging it to trade in the $3,100 price range. A similar decline can be seen in Bitcoin price which dropped by 4% in the same period. The cumulative crypto market cap slumped by more than 4% to stand at $2.32 trillion.
Ether ETFs leak $133 million in outflow
Data shows that the spot ETH ETFs’ total net outflow for July 24 turned out to be $133 million, while the total trading volume stood at $1.05 billion. Grayscale ETH Trust ETF (ETHE) recorded an outflow of $327 million, while, Grayscale mini ETF ETH saw an inflow of around $46 million.
Fidelity Ether ETF (FETH) registered the highest inflow for the day with $74.4 million. Bitwise Ethereum ETF (ETHW) endured an inflow of $29.64 million as Ether spot ETFs’ total net asset value stood at $9.538 billion on day 2.
The launch of fresh investment products linked to Ethereum has had a major impact on the market. ETH price is now down by 16% in the last 60 days. The second largest crypto is trading at an average price of $3,172, at the press time. Its 24 hour trading volume is marginally up, staying at $22.2 billion.
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
Bitcoin rally above short-term holder metric has traders calling for new BTC price highs
Has Altcoin Season Started With FED Heat? Legendary Analyst Answers
Cryptocurrency analyst il Capo answered the question of whether the altcoin season has started in his statement.
How Much Will Bitcoin Price Be If Trump Wins, How Much If Harris Wins? Standard Chartered Announces Big Bull Forecast
At what price level will Bitcoin, the world's largest cryptocurrency, be after the US elections? Here are analysts' opinions.
Vitalik Buterin’s Wallet is Active Again: Detected in Onchain Data
Another movement was detected in the cryptocurrency wallets of Ethereum founder Vitalik Buterin. Here are the details.