Am I missing something with ETH?

I've been watching ETH the last couple weeks and I don't really get it.Keep seeing that the ETFs are still getting money in. I think it was around $218M last week. But ETH itself doesn't really seem to be doing much.Does ETF buying just not have as much impact on the price as I thought?

#ethereum #beginner #bitcoin #crypto

8 replies

Replies 8

@greynesta 1 days ago

I thought the same thing lol. Doesn't money going into the ETF basically mean they're buying ETH?

@CryptoStorm Verified

8 hr ago

Yeah, but there are people selling at the same time. I don't think ETF inflows automatically mean price goes up.

@mindgames 8 hr ago

Right, I think that's what I wasn't getting. I was basically thinking $218M in = more ETH demand = higher price.

@greynesta 8 hr ago

Same 😭 So who is selling it then? Just people who already have ETH?

@CryptoStorm Verified

8 hr ago

Could be. People take profits, funds rebalance, traders sell into buyers, all that stuff. There's always someone on the other side of the trade.

@mindgames 8 hr ago

That actually makes more sense. I guess I was looking at the ETF number like it was the whole market.

@SatoshiSoul Verified

8 hr ago

I think part of it is that $218M sounds huge on its own, but maybe it's not that huge compared with the amount of ETH being traded overall.

@mindgames 8 hr ago

Yeah, that's another thing I haven't really figured out. At what point is an ETF inflow actually big enough to matter?

Am I missing something with ETH?

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