Ethereum News: Market Faces Uncertainty Amid Shrinking Supply and Surging Futures Interest

Recent developments in the Ethereum market have raised concerns among investors, with the cryptocurrency facing uncertainty due to a shrinking supply on exchanges and a surge in futures interest. Here’s a closer look at the key details and implications for Ethereum’s future.

Ethereum Faces Uncertainty as Supply Shrinks and Futures Interest Surges

Ethereum availability on exchanges hits the lowest since 2015, with only 8.97M ETH remaining, a 16.4% drop in seven weeks. Open interest in ETH futures reaches a record 10.23M ETH, but the price has dropped 28% since February 21, signaling market uncertainty. U.S.-based Ether ETFs see $307M in outflows over two weeks, highlighting weak institutional demand. Ethereum (ETH) traded sideward in the last 24 hours with a week-on-week growth of just 4.27%. While there has been slight strength, ETH remains below the psychological level of $2,000. Demand for ETH remains sluggish, and supply-side indicators suggest the possibility of a bullish setup but do not provide room for a more convincing break in prices.

Best Crypto to Buy Now as Ethereum Open Interest Hints at Altcoin Season

While Ethereum’s demand for Leveraged longs is still struggling, it recently recorded the highest-ever open interest rate, suggesting strong institutional activity. Ethereum’s pump usually signals an altcoin rally, and with ETH stabilizing around $2000, many believe it has reached its bottom. This guide features high potential ETH alternatives that may gain major value in the coming days.

Ethereum News: Whales Snap Up $236M in ETH, Rally Brewing?

Ethereum has seen a significant increase in ETH whale accumulation, with large holders purchasing over $236 million worth of ETH in three days. Despite recent price drops below $2,000, these investors remain confident and have accumulated aggressively. Transaction records indicate that institutional investors bought more than 120,000 ETH over two days, suggesting a potential shift in market dynamics and speculation about an upcoming rally.

This Week in Crypto Games: Jurassic World in ’The Sandbox’

The crypto and NFT gaming space is busier than ever, with prominent games releasing, token airdrops, and constant developments. Decrypt’s GG presents a roundup of the biggest news from the past week, including The Sandbox kicking off its fifth alpha season with a new in-game Jurassic World experience. Other original stories from the week are also showcased.