Attention! Plus Token has recently started to sell $ETH on a large scale! ! ! !

Currently, only about one-fifth of the addresses in the entire network are tracked, and the selling pressure per hour is about 200 $ETH (for reference only, the addresses of Plus Token are complicated due to some historical reasons, and the relevant statistical work is in progress)

Conclusion?

In the long run, it is a very big hidden danger for $ETH, but it will not cause systemic risks in the currency circle. In the future, there is still the negative impact of the US Silk Road selling coins waiting for the market reaction. Combined with the recent market explosion volume, especially the continuous high explosion volume of long orders, the contract is operated with caution.

Impact on ETH?

In the short term, the impact is not great. At present, the single selling pressure of Plus Token is far less than the Mt.Gox incident in June, and it is also small compared to the amount of coins sold by the US government on Silk Road, but in the long run, we are concerned about the future performance of Ethereum's rise.

From the perspective of Ethereum ETF?

From the perspective of ETF net inflows, after the recent release of macro data that is favorable to interest rate cuts, the net purchase volume of Bitcoin ETFs has returned to above US$100 million. Compared with the weak net inflow of Ethereum ETFs, the market's focus seems to still be on BTC as a single core asset allocation. ETH's influence in Crypto is being abandoned by a large amount of capital due to its poor price resilience and lack of obvious narrative momentum.