This week, exchanges saw a net inflow of 62,000 ETH, approximately $231 million
PANews reported on May 22, according to CoinDesk, that as traders flocked to exchanges with $231 million (62,000 ETH) in anticipation of an ETF, the market is expected to experience volatility. Analysts indicate that a large influx of ETH into exchanges typically signals increased selling pressure, which may lead to heightened price fluctuations. Currently, market sentiment is high, and investors are optimistic about the upcoming Ethereum ETF, driving recent capital flows and market activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
JUST IN! Strategy (MicroStrategy) Purchased New Bitcoin! Here's the Amount of BTC in Hand!
MicroStrategy announced that it purchased 20,356 Bitcoin (BTC) at an average price of $97,514.
Bad News for Bitcoin (BTC) from the US! Plans Shelved!
The Montana House of Representatives has rejected a bill that would establish a Bitcoin reserve.
TRX Eyes $1.11 Target with Potential 444% Surge
TRX continues its bullish momentum and could reach $1.11, with a potential 444% upside based on log-measured targets.TRX Holds Strong Gains, Eyes $1.11 TargetWhy TRX’s Bullish Trend Could ContinueCan TRX Reach $1.11?
Ethereum’s Most Hated Rally is Imminent
Ethereum's weekly Stochastic RSI signals a bullish breakout. Is another rally on the horizon? Find out what history suggests!What is the Stochastic RSI Saying?History Repeating Itself?Market Sentiment: Still Bearish?
Trending news
MoreCrypto prices
More
