Weak stocks and declining DeFi use continue to weigh on Ethereum price By Cointelegraph


Weak stocks and declining DeFi use continue to weigh on Ethereum price

Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since May 13 according to data from Coinglass.

Ether/USD 12-hour price at Kraken. Source: TradingView

The worsening market conditions were also reflected in digital asset investment products. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, crypto funds and investment products saw a $141 million outflow during the week ending on May 20. In this instance, (BTC) was the investors’ focus after experiencing a $154 weekly net redemption.

network’s most active DApps in USD terms. Source: DappRadar
Ether futures 3-month annualized premium. Source: Laevitas