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Manator.eth 🎩🍖💊🍓
@manator
ETH price is down", "ETH ETF is a failure". How is ETH ETF performing⁉️ To benchmark, let's compare it with BTC ETF debut. Day 1 trading volume: - BTC: $4.7b - ETH: $1b ➡️ ETH/BTC trading volume: 23%. Day 1 net inflow: - BTC: $655m - ETH: $107m ➡️ ETH/BTC net inflow: 16% Day 1 Grayscale outflow: - GBTC: $100m - ETHE: $484m ➡️ ETH/BTC Grayscale outflow: 484% 🤯 BTC ETF triggered a -20% drop in BTC spot price in a week timeframe. ETH ETF currently records a -1% drop in ETH price in its first 2 days. At the same time, ETH Grayscale outflows have been 5x higher than BTC outflows for the same period. Relative to BTC price action, ETH is performing exceedingly well, with Grayscale outflows fully absorbed. Once Grayscale outflows starts slowing, BTC went up 92% in less than 2 mths. With ETH supply on exchange at all time low, and reflectiveness in supply (EIP-1559), expect price movements to be more drastic. TLDR: ETH much much higher. https://x.com/fabdarice/status/1816165001109069929
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Milad
@miladjarmooz
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