#DAOBaseAIBinanceTGE
Ether remains stable near $2,400 while cryptocurrency investors bet on long-term growth.
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The growth of Ethereum's layer 2 and the $830 million in spot ETH ETF inflows reflect the true sentiments of investors, despite the collapse of the cryptocurrency market.
🔸Key points:
ETH maintains support at $2,400 despite a 15% drop in price and $277 million in liquidations.
The growth of layer 2 networks and inflows into spot ETH ETFs sustain investors' confidence in Ether.
Ether (ETH) failed to maintain the bullish momentum that peaked at $2,880 on Wednesday, although it also showed resilience near the $2,450 level. Although investors are not particularly excited about the current price, derivative metrics indicate growing confidence.
On Friday, the Ether futures premium briefly turned bearish when the ETH price dropped 15% to $2,440, wiping out $277 million in leveraged long positions in two days. However, by Sunday, the futures premium had regained the neutral threshold of 5%, suggesting that traders are regaining confidence in the $2,400 support level.
