The Ethereum Foundation’s main wallet now holds approximately $650 million, down from $1.3 billion in March 2022, as revealed by a top official. The organization spends about $100 million annually with no clear sustainability plan in place.
Ethereum futures open interest hits a 19-month high amidst a 10% price correction, raising questions about market sentiment and future price movements.
Ethereum’s price reaches $3,331 amid expectations of spot ETH ETF approvals this week, with analysts predicting significant market impact and potential new all-time highs.
Despite the SEC Chair Gary Gensler suggesting that spot Ethereum (ETH) ETFs are likely to receive approval over the summer, the price of ETH experienced a nearly 5% decline on Thursday, reflecting mixed sentiment among derivatives traders.
Ether (ETH) price surged 13% in a week, nearing $4,000, but derivatives data suggests an overheated market. While a new all-time high above $4,800 is possible, excessive leverage from traders poses a risk of forced liquidations. The potential approval of a spot ETF fuels bullishness, but overconfidence could undermine sustainability.
