Daily ETH production: 2,008
Daily ETF demand: 231,000
Derivatives open interest: 50.3 billion
29.7% of supply is staked
OTC supply is exhausted
This is the fundamental of Ethereum, supply and demand imbalance, ETH is being driven up by two invisible hands, OTC and options, and now there is no inventory left in the OTC market, ETH at 3,400 is in short supply, while BTC still has continuous turnover. You think this is the top, but ETH has not fully entered the value discovery phase yet, but the main force is now clearly buying. The last time the main force clearly bought was when BTC was at 50k. But ETH doesn't need to wait too long, just wait until the US interest rates drop below the ETH staking rate, and that's when ETH will be great again. 🚀
