And while these funds have attracted cumulative inflows of .82 billion, it’s a much smaller figure compared to Bitcoin’s billion.
Ethereum (ETH) was trading above ,200 at last check Sunday, down by over 45% from its highest point in November last year. Several crucial charts explain why the ETH price has crashed, and provide hints of what to expect this year.
Ethereum price formed a triple-top pattern
Ethereum price has crashed this year and is hovering near its lowest level since September last year.
Spot ETH ETFs are having outflows
Ethereum staking outflows rise
Ethereum fees have dropped
ETH has now dropped to the neckline at ,150. Therefore, a clear break below that level risks more downside, potentially to ,176, down by 45% from the current level.
Ethereum balances on exchanges are rising
A good example of this is Lido, the biggest liquid staking network in the crypto industry. Lido’s total value locked has dropped from over 10.1 million ETH to 9.41 million.
