HomeUncategorizedEther price charts reflect weakness, but inflow to LSDFi could prevent an ETH sell-off By Cointelegraph

Ether price charts reflect weakness, but inflow to LSDFi could prevent an ETH sell-off By Cointelegraph

July 8, 2023

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Ether has been on a downward trend, with the $2,000 level forming a crucial resistance level in recent months.

While (BTC) recorded 11.94% gains, moving past $30,000 in June after BlackRock (NYSE:) filed an application for an exchange-traded fund with the Securities and Exchange Commission in the United States, the upside in Ether (ETH) stayed around 3.16%.

The 7-day moving average of total transaction fees paid on Ethereum. Source: Glassnode
Ethereum exchange inflows (pink) versus staking deposits (blue). Source: Glassnode
The weekly inflows of ETH staking deposits by category. Source: Dune
daily price chart. Source: TradingView
weekly price chart. Source: TradingView