The main dishes to remember:
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Ether increased to $ 2,470, but the term data and the options show a low increased conviction of traders.
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Despite the ETH ETF Spot entries, the low network fees and the upward competition weigh on the prices of Ether prices.
Ether (ETH) jumped from 17% to $ 2,470 compared to a low Sunday of $ 2,115, following the investor response to the news that a cease-fire was established between Iran and Israel. Oil prices have dropped to a two -week hollow after the markets predicted reduced geopolitical risks.
Despite the improvement of the geopolitical climate, professional ether traders remain hesitant to adopt a bullish position.
In the neutral markets, the monthly ETH term contracts are generally negotiated at an annualized bonus of 5% to 10% to take into account the extended settlement period. Tuesday, this indicator slipped to a lower level of 3%. The absence of interest in long -speaking long positions has persisted since June 12, after the ETH has not owned more than $ 2,700.
It is interesting to note that the funds negotiated by ether of the United States (ETF) recorded $ 101 million at net entries on Monday, overthrowing the $ 11 million in outings seen on Friday. However, everything that holds the demand for optimistic leverage cannot change simply simply because the ETH has increased by $ 10% to $ 2,660 or because ETFs draw an additional $ 300 million at entries.
Ether’s market capitalization exceeds costs, increasing sustainability problems
The concerns of investors revolve around the inadequacy between the market capitalization of $ 293 billion in Ether and its modest $ 41 million in monthly network fees. It doesn’t matter if the reduced rolling costs were intentional, the network activity must increase considerably to maintain stalement of staggered without swelling ETH’s offer.
While Ethereum leads in total deposits, its costs are only $ 8 million higher than those of Solana. For the context, the total value of locked Ethereum (TVL) is $ 66 billion, compared to $ 10 billion in Solana. More striking, tron percime $ 56 million in monthly fees despite less than $ 5 billion on TVL.
The ETH options markets provide an additional overview of the feeling among major investors. Under balanced conditions, asymmetrical metric must remain between 5% and + 5%. Readings above this beach indicate that market manufacturers hesitate to provide downward protection.
Currently, the 2% bias is well in the neutral zone, although it briefly approached the lowering territory on Sunday. In particular, ETH options have not shown an asymmetry below -5% since June 11, which implies that traders expect a consolidation greater than $ 2,800 to trigger a bullish change.
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More than 20 weeks have passed since the ether was negotiated for the last time above $ 3,000, which led to a progressive erosion of traders’ confidence. The lack of renewed optimism also stems from the intensification of competition in the decentralized application activity (DAPP), in particular the Solana and BNB chain.
We still do not know what could revive a strong purchase interest in ETH. A sustainable upward trend will probably require a clear competitive advantage. Unless Ethereum differs by tangible institutional adoption or network domination, the ETH is unlikely to exceed the bar of $ 3,000 in the short term.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.
