#ETH🔥🔥🔥🔥 Why is it getting weaker and will it continue to drop!
ETHE is an early fund of Grayscale, one of the early channels for institutions to harvest in the crypto space.
Since BlackRock, Blackstone, and other institutions have launched spot Ethereum ETFs, Grayscale's ETHE has seen an outflow of 3.01B, leaving a net asset of 4.38. This means that the selling pressure on Ethereum will continue for a while. This is also the reason why most Ethereum ETFs are showing outflows, even though BlackRock has been buying. Its iShares Ethereum Trust (ETHA) is only 1.15B, far less than Grayscale's outflow.
Current analysis of Ethereum:
1. Ethereum's founder Vitalik Buterin has been frequently appearing on X this year and strongly advocates for Ethereum, yet the price of Ethereum has performed poorly, even continuously declining. When the project team continuously recommends while the project keeps falling, one should understand that the Ethereum Foundation is continuously selling ETH and plans to acquire more ETH for sale.
Currently, the issue of Ethereum's deflation remains unresolved, layer 2 is draining resources, plus an annual issuance of about 0.265%. If the issuance is not controlled, the inflation in the later stage will be even more severe, miners' earnings will be low, and the on-chain ecosystem will be hindered, greatly impacting the price.
Grayscale's ETHE continues to exert selling pressure, which needs time to digest. Don't rush; slow is fast. 2
Most of the staking projects on the Ethereum chain are basically "vampires", including those challenging the minimum amount for Ethereum validators.
Today: November 5, according to monitoring by Farside, Grayscale ETH had a net outflow of 31.9 million USD yesterday, and ETHE had a net outflow of 10.8 million USD.
Those familiar with Doug know that I was quite fond of ETH last year.
Today, even the trading ideas for ETH are.
The so-called bull market can make money; indeed, whether it drops or rises, seizing the opportunity can earn.
But the main theme of the bull market is still to find opportunities to go long.
With ETH's drop like this, it's just for fun; it's not as interesting as Bitcoin.
Playing too much, sooner or later, you will be stuck or lose everything if you are not careful.
Bitcoin's stability gives a sense of ebb and flow, with signs to follow.
