Ethereum ETFs: The Great Asset Escape! 🚀💸

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In a world where Ethereum exchange-traded funds (ETFs) are shedding assets faster than a cat in a room full of rocking chairs, the US recession risks have decided to join the party, and oh, what a party it is! 🎉

According to the ever-so-reliable SoSoValue data (which sounds suspiciously like a name for a dodgy fortune teller), these spot Ethereum (ETH) ETFs have been on a seven-week diet, shedding a whopping $82.4 million last week alone. That brings their cumulative inflows to a staggering $2.2 billion—if only they could keep it! 💰

Now, all ETH ETFs are sitting on a mere $5.25 billion in assets, with BlackRock’s ETHA and Grayscale’s ETHE leading the pack like two overachieving students at a school for gifted children, each boasting $1.85 billion. Grayscale’s mini fund ETH is trailing behind with a modest $711 million, while Fidelity’s FETH is hanging in there with $580 million. Talk about a financial game of musical chairs! 🎶

Meanwhile, Bitcoin ETFs are strutting their stuff, flaunting over $35 billion in cumulative outflows and a total asset pool of $93 billion. It’s like watching a popular kid at school while Ethereum sits in the corner, wondering where it all went wrong. 😢

Ethereum’s performance has been about as appealing as a soggy biscuit, with its price plummeting by nearly 62% from its glorious heights in November last year, now languishing at a mere $1,655. Ouch! 😬

Unlike its more popular cousin Bitcoin (BTC), which has decided to throw a party and hit a new all-time high this year, Ethereum is still sulking below its own high of $4,872. If you had invested $1000 in Ethereum back in 2022, you’d now be looking at a sad $745, while that same amount in Bitcoin would have magically transformed into $1,400. It’s like watching your friend win the lottery while you’re left with a handful of lint. 🎩💸

Ethereum has faced more challenges than a contestant on a reality show, primarily due to fierce competition from layer-1 and layer-2 networks. The likes of Solana (SOL), Base, Tron (TRX), and Arbitrum (ARB) are all vying for the crown, and it seems Ethereum is no longer the belle of the ball. 💃

Data shows that other popular chains and apps like Uniswap, Jito, and Solana have overtaken Ethereum this year, leaving it in the dust like an old shoe. 🥾

Ethereum Price Technical Analysis

While the ETH price in USD looks like a bad hair day, the ETH/BTC price is even worse. The weekly chart reveals that the ETH/BTC pair has been on a downward spiral, plummeting from 0.088 in 2021 to a dismal 0.0188 today. It’s like watching a balloon slowly deflate over five years—sad but oddly fascinating. 🎈

The pair is currently lounging well below all moving averages, while the Average Directional Index has shot up to 44, indicating that the trend is as strong as a troll on a diet. 🏋️‍♂️

Thus, it seems likely that the pair will continue its descent as sellers target the key support at 0.016, which is its lowest level since September 2019—down by a staggering 92% from where it currently stands. It’s a financial rollercoaster, and we’re all just along for the ride! 🎢

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2025-04-12 20:13