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Ether price charts reflect weakness, but inflow to LSDFi could prevent an ETH sell-off

Published 07/07/2023, 03:35 PM
Updated 07/07/2023, 05:20 PM

Ether has been on a downward trend, with the $2,000 level forming a crucial resistance level in recent months.

While Bitcoin (BTC) recorded 11.94% gains, moving past $30,000 in June after BlackRock (NYSE:BLK) filed an application for an exchange-traded fund with the Securities and Exchange Commission in the United States, the upside in Ether (ETH) stayed around 3.16%.

The 7-day moving average of total transaction fees paid on Ethereum. Source: Glassnode
Ethereum exchange inflows (pink) versus staking deposits (blue). Source: Glassnode
The weekly inflows of ETH staking deposits by category. Source: Dune
ETH/USD daily price chart. Source: TradingView
ETH/BTC weekly price chart. Source: TradingView

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