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Ethereum’s leisurely Q2: Will ETF approval and low supply power costs up?
Ethereum’s leisurely Q2: Will ETF approval and low supply power costs up?

Written by Digital Info

June 4, 2024

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Following the announcement of Ethereum ETFs, Ethereum (ETH) has witnessed a surge in popularity and brand value. However, Token Terminal’s data reveals that Ethereum faced challenges in Q2, with a lack of profitability. This decrease in profitability may present difficulties for community members looking to sell their holdings, although interest in ETH remains high.
Since the approval of Ethereum exchange-traded funds (ETFs) in the US, more than $3 billion worth of Ethereum has been withdrawn from centralized crypto exchanges. This significant withdrawal has resulted in a potential supply squeeze, as the amount of Ethereum held on exchanges has considerably decreased. This trend indicates that investors are opting for self-custody rather than quick selling.
Given that Ethereum’s supply on exchanges is currently at its lowest level in years, coupled with the increased demand following ETF approvals, there is a possibility that the price of ETH could rise towards its all-time high.

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