ME News Report, May 28 (UTC+8), ETH fell below $2,000 for the first time since March of this year. Over the past 7 days, ETH has declined nearly 8%, with a drop of over 5% in the last 24 hours. Meanwhile, ETH futures open interest (OI) has increased for the third consecutive day, reaching a record high of 16.39 million ETH, with a nominal value of about $32.5 billion. Analysts believe that, amid the falling spot price, the continued rise in OI indicates that the market is experiencing more aggressive leveraged short-selling activity. Markus Thielen, founder of 10x Research, stated that more investors are starting to abandon ETH, saying, "ETH does not generate cash flow, and with rising U.S. Treasury yields, staking yields are becoming less attractive." Additionally, the U.S. spot ETH ETF saw a net outflow of $401 million this month, completely reversing the $354 million net inflow in April. Market sentiment has also continued to deteriorate due to the departure of core members of the Ethereum Foundation. David Hoffman, co-founder of Bankless, previously said he had sold his ETH holdings, believing that the "ETH as currency" narrative has been fully priced in. Web3 research organization House of Chimera stated that the market is questioning whether Ethereum's ecosystem advantages in DeFi, RWA, and tokenization can truly be reflected in the ETH token itself. (Source: ChainCatcher)

ETH-0.67%

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GlassDomeUniverse

· 9h ago

Yield curve inversion, smart money has already exited early

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QuantizedDaydream

· 10h ago

Staking yields can't keep up with U.S. Treasuries; who still locks up their tokens?

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TakeAScreenshotBefore

· 10h ago

ETH ecosystem competitiveness? Over there, Sol laughs out loud

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LittleBearWatchingTheMarket

· 10h ago

ETF funds are flowing out, and institutions are also withdrawing

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TeaAndSlippage

· 10h ago

Core team members flee, faith collapses on the scene

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KeyOnBlackVelvet

· 10h ago

If you can't hold 2000, it's really over.

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HeavyStakingOnASnowyNight

· 10h ago

Leverage at its maximum, this script is all too familiar.

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OldKeyboardTraitor

· 10h ago

Short sellers celebrate, bulls remain silent

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CcCC

· 10h ago

All are bearish news.

View OriginalReply0

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Analysis: As Ethereum falls below $2,000, futures positions hit a record high, indicating increasing bearish sentiment in the market.

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