Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum HODLers secured 298,000 ETH on the 24th ahead of spot ETF trading.
ETHEREUM NEWS

Ethereum HODLers secured 298,000 ETH on the 24th ahead of spot ETF trading.

By Crypto FlexsJune 21, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum HODLers secured 298,000 ETH on the 24th ahead of spot ETF trading.
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum is under pressure at press time, down about 15% since March 2024. On-chain data points to an optimistic picture, with sellers applying pressure and reversing all gains posted since May 20.

Ethereum HODLers collect 298,000 ETH in 24 hours.

Let’s look at one analyst, X. note Demand for ETH, especially from perpetual holders, has surged. In most cases, these permanent holders are institutions that are better funded and willing to hold out. Unlike retailers, these companies can choose to hold for the long term and are often unperturbed by market volatility.

Inflow of Ethereum permanent holders | Source: @@jjcmoreno via X

Citing CryptoQuant data, the analyst said these perpetual holders are responsible for the second-highest daily purchases on record. When the price briefly rose on June 12, they bought a whopping 298,000 ETH. Surprisingly, this figure falls short of the all-time high of 317,000 ETH purchased on September 11, 2023.

In light of this, the surge in demand indicates strong bullish sentiment despite the clear lower lows on the daily chart.

Related Reading

Additionally, considering the amount of ETH floating around in the market, it could be a sign that institutions like hedge funds or billionaires are starting to establish themselves in the market.

them seems to be This is to take advantage of low prices.

As of press time, Ethereum’s weakness is evident on the daily chart. Despite the bounce on June 12, the bulls were unable to fully reverse their losses on June 11. The pullback on June 13th means sellers are back on top and prices may adjust to the prominent June 11th bar.

Ethereum price trending downward on daily chart |  Source: Binance, ETHUSDT via TradingView
Ethereum price trending downward on daily chart | Source: Binance, ETHUSDT via TradingView

The candlestick array on the daily chart shows $3,700 as a resistance level. After the breakout on June 7th, ETH actively filled the gap on May 20th with a freefall towards spot rates.

If the dump continues, ETH will likely retest $3,300 once again, despite optimism across the cryptocurrency industry.

Spot ETF Trading to Begin This Summer: Gensler

It remains to be seen whether the price will recover from current levels or fall to $3,300. Overall, the market is said to be optimistic. comment These are the words of Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC).

Appearing at the Senate hearing, Gensler said the spot Ethereum Exchange-Traded Fund (ETF), whose Form 194-b was approved in May, could tentatively begin trading in the summer. BlackRock has already resubmitted its S-1 filing and is awaiting approval.

Related Reading

Once the product is approved in the coming weeks, ETH’s liquidity will improve significantly. Similar to spot Bitcoin ETFs, institutions will invest billions of dollars in ETH to provide exposure to their clients.

Featured image by DALLE, chart by TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Next chapter of ecosystem support program

August 31, 2025

Kindly, MD’s $ 5B Bitcoin Play comes as DATS raises fear of wider Altcoin fluidity.

August 27, 2025
Add A Comment

Comments are closed.

Recent Posts

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025
Most Popular

BloFin Sponsors TOKEN2049 Dubai and Celebrates Side Event: WhalesNight AfterParty 2024

April 26, 2024

Helium Mobile cracks down on mobile token farmers

December 18, 2023

US FINRA highlights cryptocurrencies in annual report

January 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.