Ethereum Poised for Significant Upward Momentum, Insights from Trader Michaël van de Poppe
Inflows into the recently authorized spot Ethereum exchange-traded funds (ETFs) are indicating a potential upswing in the price of ETH, as per insights from crypto analyst Michaël van de Poppe.
Van de Poppe informed his substantial following on the X social media platform that a significant development occurred on Monday, with the initiation of zero outflows on the Ethereum ETFs.
“This is a crucial week. Should this week witness a positive net inflow surpassing $50 million, we could be on the brink of a robust upward trajectory for the Ethereum ecosystem.”
The crypto analyst pointed out that ETH ETFs have been mirroring the trajectory of Bitcoin (BTC) ETFs until now, with two weeks of decline followed by an anticipated gradual ascent marked by consistent inflows.
There is a notable slowdown in Grayscale outflows, indicating promising weeks ahead.
Van de Poppe also highlighted the comparison between Ethereum ETF inflows and staking activities. He noted that the amount of ETH staked currently stands at 30%, with an increased supply in 2024 amounting to approximately $170 million. In contrast, the inflow in the ETF over the past ten days totals $130 million.
“If this inflow gains momentum, the impact on Ethereum’s price is expected to surpass that of Bitcoin significantly.”
At the time of reporting, ETH is trading at $2,674.
It is crucial to stay informed about developments in the crypto space, particularly regarding Ethereum and its potential for growth. Keep abreast of price actions and market trends to make well-informed decisions in this dynamic environment.
