Significant Outflows of Ethereum Despite Price Correction

has remained stagnant around the $3,500-price range. However, a recent correction pulled down ETH’s price on the charts significantly, fueling a change in sentiment.Despite this correction, however, there have been significant outflows of approximately 1,000,000 ETH, equivalent to $3.41 billion, from exchanges since March.

A lack of interest from new addresses could affect buying pressure for ETH in the future and may impact its ability to climb back to the $3,500-level.Due to the price correction, ETH’s MVRV ratio fell significantly. This indicated that most ETH holders were not profitable, at the time of writing. This could be interpreted positively as most of these holders don’t have any incentive to sell their holdings and the price of ETH could sustain its current levels going forward.

A rising Long/Short difference means that long-term holders outnumber the short-term holders. These long-term holders are less likely to sell their holdings and don’t tend to react impulsively to price fluctuations.Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates. He is a fan of gonzo journalism, transgressive fiction, heavy metal, and Manchester United.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Ethereum-killer’ Solana’s co-founder supports EthereumThe SEC's recent probe into Ethereum has stirred speculation amid a 4% decline in Ethereum's value over the past week.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Ethereum Price Falls by 14.48% in May, Execs Anticipate Uptick After Bitcoin HalvingDespite a 14.48% drop in price, executives anticipate a significant increase in Ethereum's value, especially after Bitcoin's halving. Some researchers suggest that a possible denial of an ETF may not have a significant impact on the price.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Ethereum: U.S. investors look for other altcoins as ETH’s price fallsEthereum’s [ETH] price decline since briefly trading above $4000 on 11th March has resulted in a drop in its Coinbase Premium Index (CPI).
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin, Ethereum, Solana price predictions – What to expect this weekBitcoin fell below the $70k level earlier this month and dragged the rest of the market southward, but Ethereum and Solana show resilience.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Ethereum Price Prediction and Strategy for a $4k ComebackEthereum [ETH] seemed to have become a shadow of its former self after the price collapsed from $3,633 to $3,22o in the last 24 hours
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin price hits $73,725, Ethereum gets Dencun upgrade as bull market ramps upThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »