Ethereum (ETH) price dips 6% on Tuesday, following a general crypto market decline. Investors withdraw over 500K ETH from staking protocols, potentially impacting ETH's long-term prospects. Short-term holders realize losses amidst price swings.
Ethereum price today is $3,440. Ethereum investors have withdrawn over 500K ETH from staking protocols in the past month. WisdomTree deposited over 11K ETH in Coinbase a few minutes before the market's recent sell-off. Ethereum could bounce off the lower boundary support line of a symmetrical triangle pattern. Ethereum (ETH) is down 6% on Tuesday after the recent general crypto market decline canceled out gains seen in the past five days.
If ETH fails to bounce off the lower boundary support line of a symmetrical triangle pattern, it could crash to the $3,000 psychological level. Ethereum staking outflows rise, short-term holders realize losses Ethereum investors have been withdrawing their assets from staking protocols since early December. According to CryptoQuant's data, over 500,000 ETH have flowed out of staking protocols in the past month. Despite the crypto market maintaining a slightly bullish structure, these substantial net outflows could affect ETH's long-term prospects. A decline in the total amount of staked ETH indicates investors may not be willing to hold on to their positions in the long term. A potential reason for the staking outflows could be profit-taking among investors due to rising prices in the past two months. Meanwhile, Santiment data shows that the recent ETH selling activity came from coins less than one year old, after a slight increase in the 90-day, 180-day and 365-day Dormant Circulation. Some of these coins were sold at a loss of over $6.6 million. ETH Dormant Circulation. Source: Santiment Such movements among short-term holders are expected during price swings. Crypto analytics platform Lookonchain's data also showed that asset manager WisdomTree deposited 11,733 ETH worth about $42.61 million into Coinbase just before the market's sharp decline. Additionally, Ethereum exchange-traded funds witnessed net inflows of $12
Ethereum ETH Staking Price Drop Market Decline Short-Term Holders
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