According to ChainCatcher, in the first few hours of the East Asian trading day, ETH fell by more than 7.5% to above $3,100, probably because the market continued to worry about the massive outflow of funds from Grayscale ETHE.

It is worth noting that the price trend of ETH is closely related to Nvidia's stock, which fell by more than 6% today. For most of this year, the price of cryptocurrencies has been closely related to the company's stock trend.