{"id":627325,"date":"2024-07-02T09:45:36","date_gmt":"2024-07-02T09:45:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=627325"},"modified":"2024-07-10T06:26:58","modified_gmt":"2024-07-10T06:26:58","slug":"ethereum-suffers-3rd-straight-weekly-outflows-becomes-2024s-worst-performer","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-suffers-3rd-straight-weekly-outflows-becomes-2024s-worst-performer\/","title":{"rendered":"Ethereum Suffers 3rd Straight Weekly Outflows, Becomes 2024&#8217;s Worst Performer"},"content":{"rendered":"<div class=\"response-container ng-tns-c1841051103-155 ng-star-inserted response-container-has-multiple-responses\">\n<div class=\"presented-response-container ng-tns-c1841051103-155\">\n<div class=\"response-container-content ng-tns-c1841051103-155 tunable-selection-with-avatar\">\n<div class=\"response-content ng-tns-c1841051103-155\">\n<div class=\"markdown markdown-main-panel\" dir=\"ltr\">\n<p class=\"first-token\" data-sourcepos=\"1:1-1:24\">Investor caution is rising in the digital asset market, with Ethereum at the forefront. According to CoinShares statistics, there have been withdrawals for a third straight week, with Ether suffering the most. In addition to slow trade volumes and regional outflows throughout the market, this negative mood in the leading altcoin suggests that the market is unsure of its direction.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogwifhat-wif-jumps-21-as-analysts-see-4-5-price-tag\/\" target=\"_blank\" rel=\"noopener \">Dogwifhat (WIF) Jumps 21% As Analysts See $4.5 Price Tag<\/a><\/div>\n<h2 data-sourcepos=\"5:1-5:43\"><strong>Ethereum Faces Headwinds Despite Upcoming Milestone<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:137\">The greatest outflows of any digital asset this year have been seen by Ethereum, the second-largest cryptocurrency in the world, which reached a startling $61 million this week. <a href=\"https:\/\/blog.coinshares.com\/volume-189-digital-asset-fund-flows-weekly-report-5265d50f2769\" rel=\"nofollow\">This depressing number<\/a> may be related to the protracted process of approving a spot Ethereum ETF\u2014a much awaited development that has been underway for almost three years.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">According to CoinShares, digital asset investment products saw $30 million in outflows last week, the third consecutive week of outflows. Ethereum saw its largest outflow since August 2022, totaling $61 million, making it the worst performing digital asset investment product so\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/69829192?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 1, 2024<\/a><\/p><\/blockquote>\n<p data-sourcepos=\"7:1-7:137\">Investors postponing commitments because to the extended wait for regulatory permission can cause confusion in the Ethereum market. Still, the July 4th launch is a day to remember somewhat significantly. This much awaited discovery is under close observation by analysts to determine whether it cannibalises present Bitcoin ETF investments or causes a surge in Ethereum adoption.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-627326 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_b4db74.png?resize=560%2C522\" alt=\"\" width=\"560\" height=\"522\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_b4db74.png?w=560 560w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_b4db74.png?w=460 460w\" sizes=\"(max-width: 560px) 100vw, 560px\"><\/p>\n<h2 data-sourcepos=\"9:1-9:59\"><strong>Mixed Signals: Regional Divergence And Altcoin Interest<\/strong><\/h2>\n<p data-sourcepos=\"11:1-11:553\">There are geographical differences in investor attitude, even though the general trend is cautious. For instance, the United States had $43 million in inflows, defying the worldwide trend and indicating ongoing interest in the digital asset market by Americans.<\/p>\n<p data-sourcepos=\"11:1-11:553\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-627327\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_8a8b40.png?resize=513%2C383\" alt=\"\" width=\"513\" height=\"383\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_8a8b40.png?w=513 513w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_8a8b40.png?w=460 460w\" sizes=\"(max-width: 513px) 100vw, 513px\"><\/p>\n<p data-sourcepos=\"11:1-11:553\">Similarly, deposits into Bitcoin and multi-asset Exchange-Traded Products (ETPs) indicate that investors favour established players and diversity. This illustrates the continuous importance of having a broad grasp of the digital asset market rather than focusing solely on one coin.<\/p>\n<figure id=\"attachment_627334\" aria-describedby=\"caption-attachment-627334\" style=\"width: 669px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-627334 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_866aa4.png?resize=669%2C403\" alt=\"\" width=\"669\" height=\"403\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_866aa4.png?w=669 669w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/A_866aa4.png?w=460 460w\" sizes=\"(max-width: 669px) 100vw, 669px\"><figcaption id=\"caption-attachment-627334\" class=\"wp-caption-text\">Ether down in the last month. Source: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\" target=\"_blank\" rel=\"noopener nofollow\">Coingecko<\/a><\/figcaption><\/figure>\n<p data-sourcepos=\"11:1-11:553\">It&#8217;s interesting to note that several altcoins are seeing a rise in value in the face of <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\" rel=\"nofollow\">Ethereum&#8217;s<\/a> withdrawal issues. For example, Solana and Litecoin experienced inflows, indicating that investors are looking for chances outside of the top two cryptocurrencies. This diversification may indicate that investors are becoming more cautious in their investments and are looking for hidden treasures in the large ecosystem of digital assets.<\/p>\n<figure style=\"width: 2475px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/dgJSHghp\/\" alt=\"\" width=\"2475\" height=\"1163\"><figcaption class=\"wp-caption-text\">Ether market cap currently at $413 billion. Chart:<a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum-goes-budget-friendly-transaction-fees-drop-to-lowest-since-2016\/\" target=\"_blank\" rel=\"noopener \">Ethereum Goes Budget-Friendly: Transaction Fees Drop To Lowest Since 2016<\/a><\/div>\n<h3 data-sourcepos=\"15:1-15:55\"><strong>Navigating Uncertain Waters<\/strong><\/h3>\n<p data-sourcepos=\"17:1-17:93\">The digital asset market is currently experiencing cautious optimism. Though there is no denying that Ethereum&#8217;s problems and outflows are causes for concern, there is also good inflows in some areas and items.<\/p>\n<p data-sourcepos=\"17:1-17:93\"><a href=\"https:\/\/bitcoinist.com\/green-light-ahead-for-ethereum-etf-gary-gensler\/\" rel=\"nofollow\">The launch of the Ethereum ETF<\/a> is a wild card; it might spur additional adoption or just reorganise current investments.In the near future, investors should probably continue to exercise caution and carefully consider the risks and rewards of any major commitments they make.<\/p>\n<p data-sourcepos=\"17:1-17:93\"><em>Featured image from Parents, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor caution is rising in the digital asset market, with Ethereum at the forefront. According to CoinShares statistics, there have been withdrawals for a third straight week, with Ether suffering the most. In addition to slow trade volumes and regional outflows throughout the market, this negative mood in the leading altcoin suggests that the market is unsure of its direction. Related Reading: Dogwifhat (WIF) Jumps 21% As Analysts See $4.5 Price Tag Ethereum Faces Headwinds Despite Upcoming Milestone The greatest outflows of any digital asset this year have been seen by Ethereum, the second-largest cryptocurrency in the world, which reached a startling $61 million this week. This depressing number may be related to the protracted process of approving a spot Ethereum ETF\u2014a much awaited development that has been underway for almost three years. According to CoinShares, digital asset investment products saw $30 million in outflows last week, the third consecutive week of outflows. Ethereum saw its largest outflow since August 2022, totaling $61 million, making it the worst performing digital asset investment product so\u2026 \u2014 Wu Blockchain (@WuBlockchain) July 1, 2024 Investors postponing commitments because to the extended wait for regulatory permission can cause confusion in the Ethereum market. Still, the July 4th launch is a day to remember somewhat significantly. This much awaited discovery is under close observation by analysts to determine whether it cannibalises present Bitcoin ETF investments or causes a surge in Ethereum adoption. Mixed Signals: Regional Divergence And Altcoin Interest There are geographical differences in investor attitude, even though the general trend is cautious. For instance, the United States had $43 million in inflows, defying the worldwide trend and indicating ongoing interest in the digital asset market by Americans. Similarly, deposits into Bitcoin and multi-asset Exchange-Traded Products (ETPs) indicate that investors favour established players and diversity. This illustrates the continuous importance of having a broad grasp of the digital asset market rather than focusing solely on one coin. It&#8217;s interesting to note that several altcoins are seeing a rise in value in the face of Ethereum&#8217;s withdrawal issues. For example, Solana and Litecoin experienced inflows, indicating that investors are looking for chances outside of the top two cryptocurrencies. This diversification may indicate that investors are becoming more cautious in their investments and are looking for hidden treasures in the large ecosystem of digital assets. Related Reading: Ethereum Goes Budget-Friendly: Transaction Fees Drop To Lowest Since 2016 Navigating Uncertain Waters The digital asset market is currently experiencing cautious optimism. Though there is no denying that Ethereum&#8217;s problems and outflows are causes for concern, there is also good inflows in some areas and items. The launch of the Ethereum ETF is a wild card; it might spur additional adoption or just reorganise current investments.In the near future, investors should probably continue to exercise caution and carefully consider the risks and rewards of any major commitments they make. Featured image from Parents, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":627337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,1944,8323,4854,1946,8686,85327],"class_list":["post-627325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-etf","tag-eth","tag-ether","tag-ethereum","tag-ethusd","tag-outflows"],"acf":[],"yoast_head":"\n<title>Ethereum Suffers 3rd Straight Weekly Outflows<\/title>\n<meta name=\"description\" content=\"Investor caution is rising in the digital asset market, with Ethereum at the forefront. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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