Bitget App
Trade smarter
Analysis: Since the approval of Ethereum spot ETF, ETH's market depth has decreased by 20%
Bitget2024/09/06 09:50
Since the listing of nine Ethereum spot ETFs on July 23, the average 5% market depth of ETH in US CEX has dropped by 20% to about $14 million, liquidity has weakened, and sensitivity to large transactions has increased. Data from CCData shows that since its listing, the Ethereum spot ETF has had a cumulative outflow of more than $500 million, and the price of Ethereum has fallen by more than 25% to $2380. Analysts believe that poor market conditions and reduced summer trading activity are the main reasons.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$103,569.09
-0.57%
Ethereum
ETH
$3,528.59
+1.67%
Tether USDt
USDT
$1.0000
-0.02%
XRP
XRP
$2.5
+3.78%
BNB
BNB
$966.14
+0.25%
Solana
SOL
$156.03
-1.19%
USDC
USDC
$0.9998
-0.04%
TRON
TRX
$0.2988
+0.23%
Dogecoin
DOGE
$0.1758
+0.87%
Cardano
ADA
$0.5679
+0.33%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now