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Ethereum sees major withdrawal from exchanges, futures ETFs experience disappointing debut

The quantity of Ethereum held outside of exchanges reached an all-time high of 115.88 million ETH during the same period. Meanwhile, the amount of Ethereum held within exchanges fell to a five-and-a-half-year low, indicating a shift in investor behavior.

In addition to these movements, CoinGecko data recorded a slight price dip for Ethereum. The cryptocurrency’s market cap stood at approximately $196.7 billion, with a 24-hour trading volume close to $7.3 billion. The trading range for Ethereum was between $1,631.65 and $1,654.45.

However, not all Ethereum-related news was positive. Senior analysts at K33 noted that the debut of Ethereum futures Exchange-Traded Funds (ETFs) did not meet expectations. No further details were provided regarding the performance of these ETFs or potential reasons behind the disappointing launch.

This sequence of events indicates a dynamic period for Ethereum, with significant withdrawals from exchanges and an underwhelming debut for futures ETFs. The implications for investors and the broader market remain to be seen.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.


Source: Cryptocurrency - investing.com

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