From the data of $ETH, it is clear that the net inflow in the primary market has significantly exceeded that of BTC in the past week. Although there has been a decrease in the secondary market of $ETHA, it is still maintaining a relatively high moving average level over the past month. This indicates that traditional investors currently favor ETH more than BTC, which is also a reason for the relatively stable price of ETH.

However, looking at the data for ETH spot trading volume, the outlook is not very optimistic. Both in Binance and Coinbase, there is a downward trend in trading volume. Combined with the ETF data, it seems that traditional investors are more likely to buy ETH, while the purchasing power of investors within the cryptocurrency sector for ETH spot has already weakened.

This article is sponsored by #Bitget ｜ @Bitget_zh

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