Recent events in the world of Ethereum have drawn attention from investors and analysts. A wallet created at the network’s inception has conducted transactions for the first time in nearly ten years, while Ethereum ETFs have reported outflows.
Transactions in Ethereum Genesis Wallet
A wallet that received 2000 ETH at the network's launch transferred 0.002 ETH in two transactions. This was reported 44 minutes before the news deadline, with the wallet moving 0.001 ETH twice to the same address. Initially credited with 2000 ETH 3607 days ago, this amount was valued at 620 dollars according to the 2015 initial coin offering price. At today’s prices, this sum is worth over 5 million dollars.
Outflows from Ethereum ETFs
On June 13, U.S.-listed Ethereum ETFs observed their first net outflow of 2.1 million dollars, ending a 19-day streak of inflows. This streak began on May 16 and took a two-day break due to holiday reporting. Over the 19 days, the ETFs managed to attract 1.37 billion dollars, accounting for 35% of the total. The largest single-day inflow occurred on June 11, reaching 240.3 million dollars.
Market Sentiment and Futures Funding Rates
Ethereum futures funding rates have fluctuated between negative and positive for the past three months. From March 18 to June 14, data reveals movements between long and short positions. Significant increases were noted at the end of May and early June when rates surpassed 0.009%, indicating strong demand for long positions amidst market volatility.
These recent developments showcase mixed sentiments in the Ethereum market, evidenced by both the movements of dormant wallets and the shifting investment flows through ETFs and futures. Attention from analysts and market participants may be warranted.
