🚀 Crypto News:

- Ethereum ETF launched but ETH price dropped sharply due to selling pressure. 📉

- 10x Research: This trend is similar to previous crypto ETF launches, including Bitcoin (BTC).

- Markus Thielen from 10x Research: "Many traders expect the Ethereum ETF to absorb 20% of the cash flow from the Bitcoin ETF, but forget the possibility of billion-dollar cash flow withdrawals from Grayscale."

- The market is entering a period of seasonal weakness.

- Ethereum ETF recorded $113M in outflows on its second day of launch.

- MT. Gox begins distributing BTC, increasing selling pressure in the market.

- Grayscale lost $481M on day one and $326M on day two, while Bitwise received $204M from Pantera Capital.

- Pantera sells "seed investment" quickly, showing a lack of confidence in long-term growth.

- ETH decreased nearly 8% in the past 24 hours, price stable around $3,181.

- ETH was rated overbought before the ETF launched, while BTC was considered "digital gold."

- Migration from ETH to Solana (SOL) when memecoin moves to the SOL blockchain.

- Warning: Market may fall further due to Mt. Gox, US earnings season, and August-September seasonal factors.

👉 What do you think about the future of ETH and SOL? Share your opinion! 💬