Are Investors Planning to Sell ETH? 🤔 📊
Recently, Ethereum (ETH) investors have started to quickly move their assets to cryptocurrency exchanges due to the increase in expectation of a spot Ethereum exchange-traded fund (ETF) approval in the U.S. and the effect of the latest rally. This is notable as one of the fastest movements in four months and shows the sales intention of investors.
According to data provided by Nansen Intelligence, net inflows to cryptocurrency exchanges reached 81,840 ETH on May 21. This constitutes a value that exceeds about $300 million in current prices. This figure, recorded as the highest daily entry into exchanges since Jan. 23, marks a third-day increase in a row after recent declined ETH balances.
The rise of ETH from about $3 thousand to over $3,800 in a single day has caused many investors to achieve a rapid price rise of 30 percent. David Shuttleworth, a research partner at Anagram, said investors were most likely benefiting from this rapid rise. This increase came in line with the increased likelihood of regulators' spot Ethereum ETF approval.
Keep a close eye on spot Ethereum ETF approval news.
Position your assets according to quick price changes.
Watch the entry-output trends on cryptocurrency exchanges.
Be prepared for short-term profit realizations.
Review your long-term investment strategies. DYOR
