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Here’s the full story behind Ethereum’s [ETH] recent performances
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Investors and traders in the cryptocurrency market thought that there could be nothing worse than the Terra crash of 9 May. Little did they know that the month of June had something much worse in store. For instance, the market cap, once well clear of $2 trillion, fell below the $1-trillion mark.
Source: Coinstats
At press time, Ethereum [ETH] had fallen by over 38% in the last seven days as per data from CoinGecko. Furthermore, as per a tweet published by Glassnode, the exchange netflows for ETH didn’t seem to be at their best.
The total exchange netflows stood at +25.3 million. The positive exchange netflow, thus, acts as an indication that people are trying to cut their losses by trying to sell their tokens.
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