{"id":566925,"date":"2021-05-17T18:28:38","date_gmt":"2021-05-17T15:28:38","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566925"},"modified":"2021-05-17T18:28:38","modified_gmt":"2021-05-17T15:28:38","slug":"eth-inflows-into-crypto-exchanges-yet-to-increase-after-dip-to-3-1k","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/eth-inflows-into-crypto-exchanges-yet-to-increase-after-dip-to-3-1k\/","title":{"rendered":"ETH Inflows into Crypto Exchanges Yet to Increase After Dip to $3.1k"},"content":{"rendered":"
The last 48 hours have been a tumultuous time period for crypto traders as the markets turned red on speculation that Tesla had sold its Bitcoin<\/a> as a result of Elon Musk having heated conversations on Twitter with several crypto community members.<\/p>\n The back-and-forth between Elon Musk and crypto twitter shook the markets in a big way. The panic resulted in Bitcoin dropping to $42k and Ethereum<\/a> losing considerable ground from $3,800 to a local low of $3,100.<\/p>\n However, the intense market crash due to Elon’s tweets has not shaken Ethereum investors<\/a> as there is no notable increment in the amount of ETH being deposited on exchanges for selling.<\/p>\n This fact was highlighted by Mira Christanto of Messari Research who also pointed out that Ethereum holders were ‘stubbornly bullish’.\u00a0She shared her analysis of Ethereum holders<\/a> through the following statement<\/a> and accompanying chart.<\/p>\n ETH<\/span> down -15% from the week without uptick in exchange inflows. Decentralized exchanges also not seeing a meaningful volume uptick. Hodlers are stubbornly bullish.<\/span><\/p><\/blockquote>\n With respect to short-term price action, Ethereum is currently trading at $3,350 after bouncing off the aforementioned local low of $3,100. However, the crypto markets are yet to inspire confidence in crypto traders even after Elon Musk debunked the theory that Tesla had sold its Bitcoin.<\/p>\nEthereum Inflows To Crypto Exchanges are Yet to Increase<\/h2>\n
<\/a>Ethereum Could Revisit $3,200 Short Term<\/h2>\n