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ETHEREUM SUFFERS DECLINING INVESTOR INTEREST FOLLOWING HISTORICAL AUGUST MARKET LULL26 August 2024, 22:40

hagijeee
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  • Ethereum ETFs posted $44.5 million in outflows last week, spearheaded by Grayscale's ETHE.
  • The Layer 1's trading volume and transaction count dropped significantly as investors became increasingly risk-averse.
  • Ethereum could continue consolidating after it failed to break above a key rectangle's resistance.

Ethereum (ETH) is down nearly 3% on Monday following a decrease in key metrics, including institutional interest, trading volume and transaction count. The decline is also evident in ETH's price, which has failed to overcome a key price resistance.


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