Ethereum's $1.5B ETF Frenzy Meets Aggressive Selling Pressure
Ethereum spot ETFs have seen net inflows every trading day since August 12th, totaling over $1.5 billion in just twelve days.
This massive influx of capital has contributed to Ethereum's rapid price gains, with the leading altcoin reaching levels above $2.3k.
Despite aggressive selling pressure on derivatives front, Ethereum is trading just below the $2.5k round-number level, with a taker buy/sell ratio of 0.81 on Binance - one of the most extreme readings in history.
This indicates that the market's sell volume was roughly 23% higher than its buy volume, observed crypto analyst Moreno.