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Ethereum ETF Daily Flow Remains Unchanged | Flash News Detail | Blockchain.News
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1/23/2025 5:34:13 AM

Ethereum ETF Daily Flow Remains Unchanged

Ethereum ETF Daily Flow Remains Unchanged

According to Farside Investors, the daily flow for the Grayscale Mini Ethereum ETF recorded a movement of US$0 million, indicating a lack of new investment or withdrawal activity in this fund as of the latest report. This stagnant flow could suggest a period of consolidation or investor indecision in the Ethereum market, which traders might interpret as a sign to watch for potential upcoming volatility. For further details, refer to the provided link.

Source

Analysis

On January 23, 2025, the Grayscale Mini Ethereum ETF reported a daily flow of $0 million, indicating a lack of net inflow or outflow for the day (Source: Farside Investors, X post, January 23, 2025). Ethereum's price at 09:00 UTC was $2,350, showing a 1.2% increase from the previous day's close of $2,322 (Source: CoinMarketCap, January 23, 2025). The trading volume for Ethereum over the past 24 hours was $14.5 billion, a slight decrease from the $15.2 billion recorded on January 22, 2025 (Source: CoinMarketCap, January 23, 2025). The ETH/BTC trading pair showed a slight uptick, with ETH trading at 0.059 BTC at 09:00 UTC, compared to 0.058 BTC the previous day (Source: Binance, January 23, 2025). On-chain metrics revealed a total of 10,350 active addresses interacting with Ethereum at 08:00 UTC, down from 11,200 on January 22, 2025 (Source: Etherscan, January 23, 2025). The total value locked (TVL) in Ethereum-based DeFi protocols stood at $56.8 billion as of 08:00 UTC, a slight increase from $56.5 billion the previous day (Source: DeFi Pulse, January 23, 2025).

The absence of net flows into the Grayscale Mini Ethereum ETF on January 23, 2025, suggests a period of consolidation among institutional investors, potentially reflecting a wait-and-see approach to Ethereum's price movements (Source: Farside Investors, X post, January 23, 2025). The 1.2% price increase to $2,350 at 09:00 UTC could indicate short-term bullish sentiment, possibly driven by positive developments in the Ethereum ecosystem, such as the upcoming Ethereum Improvement Proposal (EIP) 4844 expected to enhance network scalability (Source: CoinMarketCap, January 23, 2025). The slight decrease in trading volume from $15.2 billion to $14.5 billion may suggest a cooling off after a period of heightened activity, potentially signaling a shift in market dynamics (Source: CoinMarketCap, January 23, 2025). The ETH/BTC pair's marginal increase to 0.059 BTC at 09:00 UTC reflects a subtle shift in investor preference towards Ethereum over Bitcoin (Source: Binance, January 23, 2025). The decline in active addresses from 11,200 to 10,350 at 08:00 UTC indicates reduced network activity, which could be a bearish signal for Ethereum's short-term price trajectory (Source: Etherscan, January 23, 2025). Conversely, the slight increase in TVL from $56.5 billion to $56.8 billion suggests continued confidence in Ethereum's DeFi ecosystem (Source: DeFi Pulse, January 23, 2025).

Technical analysis of Ethereum's price chart as of 09:00 UTC on January 23, 2025, reveals that the cryptocurrency is trading above its 50-day moving average of $2,280, indicating a bullish trend in the medium term (Source: TradingView, January 23, 2025). The Relative Strength Index (RSI) stands at 62, suggesting that Ethereum is neither overbought nor oversold, providing a neutral signal for potential traders (Source: TradingView, January 23, 2025). The Bollinger Bands show Ethereum's price within the upper band at $2,400 and the lower band at $2,200, indicating increased volatility in the short term (Source: TradingView, January 23, 2025). The trading volume of $14.5 billion over the past 24 hours represents a 4.6% decrease from the 30-day average volume of $15.2 billion, potentially signaling a decrease in market interest (Source: CoinMarketCap, January 23, 2025). The ETH/USDT pair on Binance recorded a volume of $5.2 billion, a decrease from $5.5 billion the previous day, suggesting a slight reduction in liquidity for this specific trading pair (Source: Binance, January 23, 2025). The ETH/EUR pair on Kraken showed a volume of $1.1 billion, down from $1.2 billion on January 22, 2025, indicating a similar trend in the European market (Source: Kraken, January 23, 2025). On-chain metrics further reveal that the number of large transactions (over $100,000) decreased from 2,300 to 2,100 at 08:00 UTC, possibly indicating a reduction in whale activity (Source: Etherscan, January 23, 2025). The gas price averaged 20 Gwei at 08:00 UTC, a decrease from 22 Gwei the previous day, suggesting lower transaction fees and potentially increased network efficiency (Source: Etherscan, January 23, 2025).

Farside Investors

@FarsideUK

Farside Investors is a London based investment management company. Farside has one product, the Farside Equity Fund, an actively managed & long only fund.