Ethereum (ETH) is down 1% on Thursday despite rallying in the European session to overcome a key descending trendline resistance that has lasted for three years.
Ethereum price today: $3,820 Ethereum ETFs have averaged $100M in net inflows per day in the past eight days amid signs of increased basis trade. Increased staking inflows suggest a bias toward long-term holding among investors. Ethereum overcame a key trendline resistance that has lasted for the past three years. Ethereum is down 1% on Thursday despite rallying in the European session to overcome a key descending trendline resistance that has lasted for three years.
futures market despite high bullish sentiment in the global ETH spot market. Open Interest ETH Futures | The Block The basis trade process involves investors going long on ETH by owning shares of Ethereum ETFs and simultaneously holding equivalent short positions in the futures market. The aim is to earn yields from the funding fees that short positions receive during bull markets. Meanwhile, Ethereum has been seeing high net inflows across staking protocols after theyrecorded over 113K ETH net inflows in the past two days.
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