Ethereum Through the Eyes 👀 #مجموعة_تداول
💰 Ethereum exchange-traded funds record record outflows exceeding $196 million in a single day.
The decline comes after a strong rise in Ethereum above $4700 last week.
📈 Despite the recent drop, the funds continue to accumulate Ethereum and hold over 6.5 million coins worth $27.7 billion.
Ethereum-related exchange-traded funds saw a sharp decline, recording outflows of $196.6 million on August 18, according to data from SoSoValue. This followed just one day after losses of $59 million, marking the second consecutive day of declines.
❌ End of the temporary gains wave
This decline ended a series of inflows that lasted for eight consecutive days last week, when Ethereum rose to levels exceeding $4700, the highest level in several months, amid renewed institutional interest.
💼 Increasing accumulation despite the decline
Despite the recent outflows, Ethereum exchange-traded funds continue to accumulate assets at a remarkable pace. These funds currently manage about 6.5 million Ethereum worth nearly $27.7 billion, representing 5.34% of the total current supply. This is a significant increase compared to the $10 billion level just two months ago.
