Ethereum Defies Odds with Continued Capital Inflow

Ethereum's price has continued to attract capital despite the impending rate hike and the failure of the Clarity Act in the Senate.

The odds of a 25-basis-point rate increase at the next Federal Reserve meeting stand at 92.3%, but this hasn't deterred investors from buying into Ethereum.

According to data from CryptoQuant, exchange reserves have decreased by 159K ETH over the past five days, suggesting that investors are moving their funds to private wallets.

The majority of the buying pressure has come from whales with a balance of 10K-100K ETH, who have added around 200K ETH to their collective balance over the past week.