Last night, the Ethereum spot ETF was finally listed for trading. The trend of Ethereum did not bring much surprise to people, but there was no so-called positive cashing out and plummeting. Ethereum was sideways around $3,400, and the trading volume shrank. The US spot Ethereum ETF's first-day trading volume exceeded $1 billion, and Grayscale ETHE accounted for about half. Grayscale Ethereum Spot ETF (ETHE) led with a scale of $456 million, accounting for nearly half of the total trading volume. BlackRock Ethereum Spot ETF (ETHA) had a trading volume of $240 million, accounting for 24%, and Fidelity Ethereum Fund (FETH) had a trading volume of $136 million, accounting for 13%.
According to previous news, the trading volume of the spot Bitcoin ETF on the first day was $4.6 billion, and the first-day trading volume of the US spot Ethereum ETF was equivalent to 23% of the first-day trading volume of the spot Bitcoin ETF, while the trading volume of BlackRock ETHA reached 25% of the trading volume of IBIT. It seems that Ethereum does not have the conditions for a sharp decline.
Bitcoin fell to $65,896.2, losing the support of 66,070 points. The trading volume shrank extremely, and the market reappeared the wait-and-see sentiment. At this moment, the market generally believes that Bitcoin is blocked at 68,000 points, mainly because the Mt. Gox Bitcoin compensation fermented again, and the Trump effect gradually faded. Analysts believe that Biden's withdrawal from the election is not good for Trump. Biden and Trump are two old opponents. Trump is more than enough to defeat Biden, but if Vance replaces Biden, then Trump's chances of winning will be greatly reduced.
The biggest factor affecting the market trend next is that the US Department of Commerce will release the preliminary value of the US second quarter GDP data this Friday. The market expects that the US second quarter GDP data will be better than the first quarter. In addition, the US June core personal consumption expenditure (PCE) price index will be released this Friday. This is an indicator of inflation that the Federal Reserve is particularly concerned about. Economists currently expect this figure to rise by 2.5% year-on-year and 0.1% month-on-month, showing that the US inflation pressure has been further alleviated. At present, investors expect that the Federal Reserve will cut interest rates by 25 basis points in September. The current encryption market is particularly sensitive to news. KP92877 is retained. It is recommended to pay attention to changes in news in terms of operations.
