Ethereum’s Paradox: ETF Greenlight Fails to Raise Ether Costs

• Ether fell 5% on July 25 and is up 2.3% on the time of writing, buying and selling at $3,252.
• The spot ETH ETFs recorded web outflows price $152 million on Thursday.
• Grayscale’s ETHE has recorded web outflows price $1.16 billion since July 23.

Regardless of the current approval of spot Ethereum exchange-traded funds (ETFs) by U.S. regulators, Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has continued its downward trajectory, elevating issues amongst buyers.

CoinMarketCap information confirmed ETH buying and selling at $3,252 on the time of writing, up 2.3% prior to now 24 hours. Nevertheless, ETH had dropped from the highs of $3,500 to the $3,100 worth stage prior to now few days, leaving market members anxious on the token’s worth trajectory.

Notably, ETH is down nearly 5% within the final seven days, 4% prior to now month, however stays up 75% since July 2023. Alternatively, Bitcoin (BTC) posted an enormous 4.4% acquire prior to now 24 hours and is at present buying and selling across the $67,000 worth area with a 5.63% surge within the buying and selling quantity of the digital asset.

A serious cause for the decline in Ether’s worth is the outflows from the spot Ethereum ETFs, majorly from the Grays…

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