Ethereum

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 <p>The <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> landscape has been highly dynamic, with numerous new assets entering the market and generating diverse levels of interest. Ethereum [<a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>] can claim to have the largest number of long-term holders, but there appears to be a decline in institutional interest in this asset. CoinShares revealed that <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> saw outflows of $4.8 million in the past week, resulting in total sales of $108 million for the year.</p> 
 <p>James Butterfill, CoinShares’ Head of Research, observed that this categorizes it as the crypto witnessing the most substantial selling activity among prominent entities. The analyst described it as the <strong>“least favored digital asset” </strong>among exchange-traded product [ETP] investors.</p> 
 <p><strong>Also Read: Ethereum Registers More Long-term Holders Than Bitcoin in 2023</strong></p> 
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  <img decoding="async" width="1024" height="750" src="https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp" alt class="wp-image-111415" srcset="https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/9f99b2c0a7136a2cc298151118482150.webp 1344w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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 <p>As seen in the image, Bitcoin [BTC] emerged as the <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> that suffered the most last week. The king coin witnessed significant entities selling approximately $69 million worth of the asset. Nevertheless, when considering annual transactions, BTC received inflows of $200 million, whereas Ethereum experienced outflows totaling $108 million.</p> 
 <p><strong>Also Read: Firms Send 14,000 Ethereum, 236 Bitcoin to Exchanges: XRP Triumphs</strong></p> 
 <h4 class="wp-block-heading" id="h-why-are-investors-steering-away-from-ethereum">Why are investors steering away from Ethereum?</h4> 
 <p>In contrast to Ethereum, Bitcoin has experienced significantly greater growth. Regarding price performance, <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> witnessed a yearly decline of 8%. This decrease occurred despite the eagerly anticipated Merge launch that occurred approximately one year ago. Conversely, Bitcoin enjoyed an impressive 18.2% increase over the past year.</p> 
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  <img decoding="async" width="1024" height="609" src="https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp" alt="Ethereum" class="wp-image-111418" srcset="https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/12d69fd919d430993efc67c83f454d77.webp 1412w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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 <p>Consequently, 60% of Bitcoin holders were in a profitable position at the current asset price. In contrast, only 49% of Ethereum holders were experiencing gains, with the remaining 48% facing losses.</p> 
 <p>Moreover, Ethereum’s current MVRV sits at 1.02. With an MVRV ratio of 1.02, it signifies that Ethereum’s market capitalization surpasses its realized capitalization by 2%. While this does hint at a potential overvaluation, it falls within a borderline range. Therefore, it’s not a significant deviation to definitively claim that the asset is overvalued.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp" alt class="wp-image-111421" srcset="https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 1024w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 300w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 768w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 380w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 550w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 800w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 1160w, https://cdn.thebittimes.com/images/2023/09/12/85b64e5c7b1495dff455a2a27f9e8d84.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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 <p>Cathie Wood’s ARK Invest recently submitted an application for an Ethereum exchange-traded fund [ETF]. Just like in the case of Bitcoin, if an <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> ETF application gets approved, it has the potential to reshape the future of the <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a>. This approval could reignite institutional interest in <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>.</p> 
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 <p><strong>Also Read: Ark Invest Files For Spot Ethereum ETF</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>crypto</li> 
  <li>cryptocurrency</li> 
  <li>ETH</li> 
  <li>ethereum</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-institutional-investors-fade-with-108-million-in-outflows-tbt62376.html">https://thebittimes.com/ethereum-institutional-investors-fade-with-108-million-in-outflows-tbt62376.html</a></p>

Ethereum: Institutional Investors Fade With $108 Million in Outflows

TheBitTimes

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