Although ETH rose by nearly 10% yesterday, the data of spot ETFs was still not good, with a net outflow of 577 ETH. The main seller was Grayscale, whose two funds sold a total of 6,438 ETH. In terms of increasing holdings, Fidelity increased its holdings by 5,000 ETH, Bitwise increased its holdings by 861 ETH, and others, including BlackRock, were all zero.
This also shows that even when the price of#ETHis rising, there are not many investors interested. Of course, this mainly refers to investors in US ETFs, but the sentiment of ETF investors can also reflect the sentiment of ordinary investors. Just compare it with #BTC, it’s another day of crazy buying.
Many friends said they just felt a bit of improvement yesterday, but today it has gone back again. Now, the problem with ETH is no longer just a liquidity issue. Of course, liquidity is also not good enough, but in terms of comparative volume, I calculated that currently, compared to July, BTC has increased by more than four times, with a price increase of 70%. ETH has increased nearly fourfold, but the price has only increased by 10%.
In fact, the gap in improvement is not very large; it's just that ETH's foundation was not good before, so even with a fourfold increase, it is still not sufficient. Additionally, there should be quite a bit of selling pressure on ETH; the trading volume is not low, but the price movement is very small, indicating that the bulls and bears are basically in agreement. In contrast, looking at SOL, the trading volume has increased threefold compared to July, and the price has doubled.
Currently, at least the sentiment of ETF investors has not experienced FOMO, but the vast majority of investors do not plan to sell ETH.
Data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing
This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX
