Between August 22 and August 30, combined leveraged positions on Binance and Bybit for Ethereum plummeted 90.9%, falling from $1.12 billion to $102 million. Despite this sharp decline in derivatives activity, Ethereum's price remained stable near $2,500. Meanwhile, U.S. spot Ethereum ETFs have attracted about $1.5 billion in inflows since August 15, with BlackRock’s ETHA fund accounting for nearly 72% of that amount. This shift indicates that the recent price rally is now driven more by direct ETF buying in the spot market rather than leveraged trading. However, a large ETH whale wallet has moved over 40,000 ETH onto exchanges, potentially preparing to sell, which could test the strength of ETF-driven demand going forward.
Ethereum's price increased by 2.25% to $2,471.16, following a strong 32.8% gain in August. The price remains above key technical support at $2,247.57, signaling bullish momentum, while resistance sits near $2,783.71. A large whale moved over 102,000 ...
On August 31, Robinhood Chain achieved a record $989 million in decentralized exchange trading volume and $708 million in total value locked, nearly doubling from the previous month. Its daily app revenue reached $2.66 million, exceeding Ethereum and...
Ethereum's price remains near $2,500 despite a dramatic 90.9% drop in leveraged trading on Binance and Bybit, indicating the rally is less reliant on derivatives. Institutional demand through U.S.-based Ethereum spot ETFs, especially BlackRock's ETHA...
Most major cryptocurrencies experienced price declines, with Bitcoin at $78,568 and Ethereum at $2,466.79, both slightly down. Tokens like CRO and POL saw significant drops of over 7% and 14% respectively, indicating market volatility. Stablecoins re...
Bitmine Immersion Technologies increased its Ethereum holdings by 53,501 ETH, bringing its total to nearly 5.9 million ETH, or about 4.9% of the circulating supply. This move comes as Ethereum's price surged roughly 33% in August, reaching around $2,...
