From on-chain data, the sell pressure on ETH has eased, and the ETF holding ratio has increased, indicating some positive signals from institutional investors.
Capital movement: Some whale addresses have sold a large amount of ETH, such as one whale address that sold 10,543 ETH at an average price of 2476 on May 17, which may have a certain impact on market sentiment in the short term.
However, since the end of April, the ETF holding ratio of $ETH $BTC has significantly increased, indicating that institutional investors' willingness to allocate ETH is strengthening.
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