Analyst: ETH Outperforms on Strong Treasury Holdings, Sustainability of High Inflows Questioned
BlockBeats News, September 4th, according to The Block, Presto research analyst Min Jung stated that the market's buying pressure is mainly sustained by the continuous accumulation of Digital Asset Treasury (DAT) companies, and attributed Ethereum's significant Wednesday surge to this trend.
Jung said: "ETH once again performed well, likely benefiting from the same fund inflow driven by DAT. However, we remain cautious about the sustainability of this theme and DAT companies' ability to maintain high purchase volumes."
The analyst also previously pointed out that funds are continuously rotating from Bitcoin to Ethereum, as traders believe that after Bitcoin hit historic highs in July and August, Ethereum provided more profit-taking opportunities.
You may also like
Gainers
Latest Crypto News
Analysis: BTC May Rebound in Q1 Next Year, Current Trend Highly Resembles 2022 Bear Market
KOL Disclosure: Last night's abnormal price plunge of SAHARA was due to its primary liquidity provider being liquidated.
Goldman Sachs: Fed Rate Cut at the upcoming December meeting is almost a done deal
In the last 24 hours, CEX net outflow was 19541.03 BTC
Current mainstream CEX and DEX funding rate data indicates that the market sentiment remains bearish
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]