2024-5-26 12:11 |
One trader said ether’s sell-off on positive news is a typical speculator's "buy the rumours, sell the facts" reaction.
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The decline in trading volumes for ETH instruments suggests lower-than-expected institutional interest in the asset, particularly following the launch of spot ETH ETFs, according to CCData.
Demand for digital assets has dried up in recent weeks and both bitcoin and ether ETFs have seen net outflows in the last month, the report said.
Many of the largest decentralized exchanges (DEX) tokens posted gains on Tuesday.
Crypto markets lack a clear anchor and are susceptible to continued position adjustments based on traditional finance markets, one analyst said.
The boss of Japan's Financial Services Agency (FSA) has said “cautious consideration” needs to be given to the decision of approving crypto-related exchange-traded funds.
Trading volumes nearly tripled and open interest on XRP-tracked futures jumped $200 million in the past 24 hours.
The US spot Ethereum exchange-traded funds market saw $106. 7 million in net inflows on their first trading. BlackRock’s ETHA led with $266. 5 million in inflows, while Grayscale’s ETHE recorded the most outflows.