{"id":15540,"date":"2024-07-25T13:46:53","date_gmt":"2024-07-25T10:46:53","guid":{"rendered":"https:\/\/forklog.com\/en\/10x-research-identifies-emerging-issues-following-ethereum-sell-off\/"},"modified":"2024-07-25T13:46:53","modified_gmt":"2024-07-25T10:46:53","slug":"10x-research-identifies-emerging-issues-following-ethereum-sell-off","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/10x-research-identifies-emerging-issues-following-ethereum-sell-off\/","title":{"rendered":"10x Research Identifies Emerging Issues Following Ethereum Sell-off"},"content":{"rendered":"<p>The sharp decline in Ethereum following the launch of spot ETFs signals emerging issues, according to 10x Research.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> Crashing -> what\u2019s going on? <a href=\"https:\/\/t.co\/ciaqYVYuZh\">https:\/\/t.co\/ciaqYVYuZh<\/a> <a href=\"https:\/\/t.co\/czrg8YRwW6\">pic.twitter.com\/czrg8YRwW6<\/a><\/p>\n<p>\u2014 10x Research (@10x_Research) <a href=\"https:\/\/twitter.com\/10x_Research\/status\/1816300082192646377?ref_src=twsrc%5Etfw\">July 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to analysts, the sell-off largely mirrors the familiar pattern observed during the <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">launch<\/a> of exchange-traded funds based on digital gold.<\/p>\n<p>Experts <a href=\"https:\/\/cointelegraph.com\/news\/ethereum-etf-selloff-market-dynamics\">explained<\/a> that many traders &#8220;expected ETH-ETFs to &#8216;capture&#8217; 20% of BTC-ETF inflows.&#8221; However, there was an underestimation of the market adage &#8220;sell the news.&#8221;<\/p>\n<p>10x Research provided data on the outflow of funds from Grayscale&#8217;s ETHE, amounting to $481 million and $326 million in the first two days of trading, respectively.<\/p>\n<p>In the view of specialists, the rapid sell-off of &#8220;initial investments&#8221; indicates a lack of confidence in sustained growth.<\/p>\n<p>Analysts presented a bearish outlook for Ethereum, noting the asset&#8217;s overbought status ahead of the much-anticipated ETF launch.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Ether may prove to be the weakest link, where fundamental indicators (new users, revenues, etc.) are stagnating or declining,&#8221;<\/em> the specialists noted.<\/p>\n<\/blockquote>\n<p>While Bitcoin enjoys the status of &#8220;digital gold,&#8221; Wall Street has yet to determine the value proposition of the second-largest cryptocurrency by market capitalization, they added.<\/p>\n<p>In conclusion, experts warned of the risks of further price declines. Among the factors, they cited potential pressure from Mt.Gox clients, upcoming corporate reports in the US, and &#8220;weak seasonal trends in August and September.&#8221;<\/p>\n<p>Earlier, QCP Capital described the market&#8217;s reaction to the ETH-ETF launch as &#8220;muted.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sharp decline in Ethereum following the launch of spot ETFs signals emerging issues, according to 10x Research. #Ethereum Crashing -> what\u2019s going on? https:\/\/t.co\/ciaqYVYuZh pic.twitter.com\/czrg8YRwW6 \u2014 10x Research (@10x_Research) July 25, 2024 According to analysts, the sell-off largely mirrors the familiar pattern observed during the launch of exchange-traded funds based on digital gold. Experts [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1584,1146,569,1145],"class_list":["post-15540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-10x","tag-cryptocurrency-market-forecasts","tag-etf","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15540"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15539"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}