Relative to BTC

CN
Phyrex
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8 hours ago

Compared to BTC, although the sell-off of ETH is not as exaggerated, the exit of BlackRock investors accounts for a significant portion. When we calculated the exit of BlackRock investors during BTC, it accounted for less than 0.3% of the total supply, while in the data for #ETH, the exit of BlackRock investors accounted for 1.33% of the total supply, indicating that investor confidence in ETH is even weaker.

Of course, this is just regarding BlackRock. In the data from Monday, the largest sell-off was indeed by BlackRock, while Grayscale's $GBTC did not see much selling, and Fidelity, which had the largest sell-off in BTC, also showed no signs of selling. It remains to be seen if they will sell today.

Overall, the current market environment suggests that BTC still has some opportunities. ETH has managed to attract some of BTC's capital due to the ETF, but aside from these two, other tokens will find it more challenging. It really is a case of success or failure depending on Trump; if Trump cannot persuade the Federal Reserve to lower interest rates more, the entire market is likely to be dragged into a bear market by him.

The data has been updated, address: https://docs.google.com/spreadsheets/d/1W7JJ8lMQiUUlBb9U-BvFoq2H-2o5CpUuPO4D_KK3Ubw/edit?usp=sharing

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