Ethereum has experienced a significant decline, losing over 15% in the past two weeks. It is currently trading around 3,375 USD with a market cap of 406 billion USD. This decline is part of a broader trend where altcoin values have been under pressure.
Ethereum’s whales are repositioning their portfolios, anticipating a favorable altcoin season. As the market shifts, they are preparing to capitalize on opportunities, especially considering the comparative performance of Bitcoin with altcoins in the last two years.
Ethereum’s open interest and trading volume reached an all-time HIGH of over 23 billion USD. This surge reflects strong investor interest, supported by MAJOR ETF investments like BlackRock’s ETHA and Fidelity’s FETH, which have attracted over 2.64 billion USD since their launch.
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