What Is The ETH Price Trend Which Had A Fund Outflow of $59.3 Million Recently?
2022-04-27 17:14:38
Will The Price Of Ethereum Go Up Shortly?
According to a recent digital asset fund flows report from CoinShares, Ethereum has seen a whopping $59.3 million in outflows over the last three weeks. In the week of April 18-24 alone, Ethereum outflowed $16.9 million. And between the beginning of 2022 and the writing of the article, Ethereum's outflows reached $169 million.
Not only that, but we can also see on the international digital currency exchange Gate.io that the price of ETH has fallen by 8.26% in the last 7 days to $2,832.37 at the time of writing, and has fallen by 5.77% in 24 hours with a trading volume of $19,281,829,094.
The report also notes that Bitcoin had an inflow of $2.6 million during the week of April 18 to 25. In addition to stable cryptocurrencies, the level of investor interest in cottage currencies such as Avalanche, Solana, Terra, and Algor is on the rise, while Ethereum seems to have a less favorable market recently.
Such an emergence is already a strong competitor for Ethereum OpenSea at this stage. And there are more options for the Dapp user base.
Many investors predicted during the current phase of Ethereum's price decline that its price might start to see an increase in May. Down to $2,832, Ether has reached its resistance point, how long will it stay in this phase? When is the next breakout point? Perhaps it won't be long before we get the answer.
According to a recent digital asset fund flows report from CoinShares, Ethereum has seen a whopping $59.3 million in outflows over the last three weeks. In the week of April 18-24 alone, Ethereum outflowed $16.9 million. And between the beginning of 2022 and the writing of the article, Ethereum's outflows reached $169 million.
Not only that, but we can also see on the international digital currency exchange Gate.io that the price of ETH has fallen by 8.26% in the last 7 days to $2,832.37 at the time of writing, and has fallen by 5.77% in 24 hours with a trading volume of $19,281,829,094.
The report also notes that Bitcoin had an inflow of $2.6 million during the week of April 18 to 25. In addition to stable cryptocurrencies, the level of investor interest in cottage currencies such as Avalanche, Solana, Terra, and Algor is on the rise, while Ethereum seems to have a less favorable market recently.
Competition Has Emerged for OpenSea
Ethereum's OpenSea was the only Dapp in the top 10 until April. However, in the recent past Orca emerged, which is a decentralized exchange created on the blockchain together with the NFT marketplace Magin Eden. It is also one of the top 10 most frequently used blockchain Dapps in the 7 days prior to the writing of the article.Such an emergence is already a strong competitor for Ethereum OpenSea at this stage. And there are more options for the Dapp user base.
Is It Possible for The Price of ETH to Rise Shortly?
Due to the Ethereum Merger being delayed, its high fees and slow transaction speeds are affecting network users. But as Optimism, the second tier of the Ether network, is implementing a new token and governance model, it is also attracting the attention of some investors who buy Ethereum.Many investors predicted during the current phase of Ethereum's price decline that its price might start to see an increase in May. Down to $2,832, Ether has reached its resistance point, how long will it stay in this phase? When is the next breakout point? Perhaps it won't be long before we get the answer.
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