Ethereum price on two weeks low as $ 4B supply overhang

Ethereum is confronted with the mounting of macro -economic uncertainty prior to an important release stock that can add extra headwind to an already fragile cryptomarkt.

The second largest cryptocurrency by market capitalization has dropped 4.5% of its Tuesday height from $ 4,350 to $ 4,150, which is clear an almost two weeks of low low marks, according to Coingecko data.

The movement corresponds to Bitcoin’s recent correction Up to $ 112,000.

Ethereum ETFs also recorded two consecutive outskirts at the end of last week and on Monday, after two weeks of important inflow, which suggests that a delay in the investor’s interest before the Jackson Hole meeting of the Federal Reserve on Friday and a result of the stock.

The current exit queue on the Ethereum’s proof-of-stake network is 910,461 ETH, worth around $ 3.91 billion, indicating that strikers want to expand their tokens.

Data of the Validator queue Shows a waiting time of 15 days until this stock comes into effect.

“The record-high exit queet row is mainly driven by taking a profit, because many participants are looking for a profit with Ethereumhandel in the neighborhood Decrypt.

Although taking a profit remains a ‘dominant motive’, Han explained that “the recent peak in Ethereum loans on Aave has made the previously popular leverage deed less viable.”

Leverage strike Trade includes borrowing Ethereum to use through a liquid reinforcement.

The recent increase in loan rates has forced traders to settle positions and to pay back loans by Onstak, “said Han.

Compared to the exit offer of $ 3.91 billion, the demand for new Ethereum strike is 258,951 ETH or approximately $ 1.09 billion, well below the exit question.

The Exitwater row “Avoid a mass -faller output”, Ethereum -Developer Preston van Loon tweeted Saturday: “Without that validators could hurry to leave during a detected or expected attack on Ethereum’s consensus, so that the economic safety of the network is most needed.”

Anyway, once unstressed, the offer will probably flow into the open market.

Disconnect

Investors “disconnected before Friday’s Jackson Hole,” wrote Jake Ostrovskis, OTC Trader of Wintermute, in an X after Earlier this week. It comes after a worrying set of economic data released last week, including Thursday’s producer Price Index.

The American Federal Reserve chairman Jerome Powell will probably provide clarity about the long -awaited decision of September rate reduction.

Analysts expect ‘a ragless speech, which leads to decoupling with a’ well -known unknown ‘in the calendar,’ Ostrovskis added.

The multiplication of the turbulent headwind of $ 4 billion and macro -economic uncertainty are the deteriorating networking conditions.

Ethereum Active addresses that had fallen interaction with the blockchain to nearly 600,000 of a highlight of 30 July of 841,000, which represents a decrease of 28%.

Network growth, a metric that has new addresses with Ethereum, has also fallen 28% to 138,000 in the same period, which suggests a lack of adoption.

The basic case for Ethereum comprises a possible consolidation between “$ 3,900- $ 4,400”, since investors are waiting for “changes in the policy and technical shares,” wrote Arthur Azizov, founder and investor at B2 Ventures, in an e-mail to an e-mail to an e-mail Decodeer.

Despite the unlock of $ 4 billion, Han van Hashkey believes that the capacity of the market to absorb the supply shock is ‘strong’, driven by ‘robust inflow of institutional ETFs and digital assets treasuries’.

Experts who spoke earlier Decrypt Recognized this short -term insecurity and stay in the long term bullish, in the expectation that Ethereum will reach $ 6,000 to $ 8,000 by the end of the year.