ETH WILL PUMP SOON ? 
2024-08-14

Ethereum Gas Fees just hit 1 gwei and cost around $0.06 per transaction and takes less than 3 min! I don't believe my eyes any more! lets see why whales load more eth right now 

The Grayscale Ethereum ETF aka ETHE had its first day without outflows and

ETHE stopped bleeding out for a day? We love that! but why does it matter?

Well First, it’s part of a broader trend , outflows of ETHE have been trending down pretty darn consistently ever since the ETF launched, indicating that the larger majority of ETHE sellers may have already exited.

 (Less outflows + steady or increased inflows = more green days for  CRYPTOCAP:ETH  and its ETFs) 

Second, the ETHE outflows are outpacing that of GBTC (Grayscale’s  CRYPTOCAP:BTC  ETF) in a good way! It took GBTC almost  four months  to see its first day of zero outflows but ETHE speed-ran it in  three weeks 

Third, ETH’s supply dynamics work a little differently to our old friend Bitcoin. ETH gets burned the more it's used, helping to not only keep the supply steady, but potentially reduce it over time

Plus ~40% of ETH is locked up in smart contracts, reducing circulating supply even further

ETF driven demand for ETH is trending up faster than previously expected, while the amount of new  CRYPTOCAP:ETH  hitting the market each day is currently lower than BTC 

 These same ETF driven supply/demand dynamics lead Bitcoin to make history by reaching its new all time high before the halving and we may just be witnessing the same for ETH

 Market vibes are down, but fund flows are up! Let’s dig in

*Global crypto funds saw net-inflows of $ 178M this week (means the whales load dip)

*Ethereum won the most hearts last week, netting +$ 156M 

*Summer’s ending → shorts are out! Short Bitcoin ETPs (funds that bet against the growth of BTC) saw their largest outflows since May of last year.

Here’s who’s leading the buying:

*The US vacuumed up $90M worth of crypto

 *Switzerland took a $20M nibble

 *Brazil followed closely at $19M 

So Here’re our biggest takeaways:

Every region saw inflows last week (that’s rare)! Which means that, while the market vibes were down, smart money got to buying

And with  CRYPTOCAP:BTC  only juuust flipping positive (+ GETTEX:13M ), this put  CRYPTOCAP:ETH  (+$155M) well and truly in the lead for weekly inflows! 

Are you loading the dip now or you think we still in bull trap?

