The Ethereum Supply “Has Flows Problems”, According to Andrew Kang
Andrew Kang, co-founder and partner of VC powerhouse Mechanism Capital, reveals who is now buying and selling Ethereum (ETH). This list appears to be concerning for Ethereum (ETH) bulls.
Who else but scalpers are buyers?
Mr. Kang believes that by the end of May 2022, just one group of market participants will be interested in raising their ETH holdings.
Traders interested in short-term scalping opportunities are most likely buying Ethers as it reaches round numbers or among “fading sentiment,” Mr. Kang says.
All other categories of ETH “believers” have already spent their “dip money” on the previous “1,000 dips.” As such, nobody is interested in seeking a “buy the dip” opportunity for a second cryptocurrency right now.
Institutions, retailers, and miners are among the sellers Ethereum
Simultaneously, the number of “sellers” grows by the day. To begin with, institutions are limiting their exposure to ETH since it has fallen short of their expectations. In addition, following the Terra (LUNA) fiasco and other large collapses in recent weeks, several institutional players are in desperate need of funds to repay their losses.
Retail ETH holders must also sell their bags since they are “bleeding in all directions.” Many projects are in the same boat: they require funds to cover their expenses.
As ETH continues to fall, “short sellers” and miners are two more types of sellers: on May 27, 2022, it reached $1,600, which is 60 percent below its November ATH.
Last but not least, Mr. Kang adds, investors who were interested in selling previously but were waiting for a “bounce” are losing hope that Ethereum (ETH) will return.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Annie
CoinCu News
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Ethereum
The Ethereum Supply “Has Flows Problems”, According to Andrew Kang
Andrew Kang, co-founder and partner of VC powerhouse Mechanism Capital, reveals who is now buying and selling Ethereum (ETH). This list appears to be concerning for Ethereum (ETH) bulls.
Who else but scalpers are buyers?
Mr. Kang believes that by the end of May 2022, just one group of market participants will be interested in raising their ETH holdings.
Traders interested in short-term scalping opportunities are most likely buying Ethers as it reaches round numbers or among “fading sentiment,” Mr. Kang says.
All other categories of ETH “believers” have already spent their “dip money” on the previous “1,000 dips.” As such, nobody is interested in seeking a “buy the dip” opportunity for a second cryptocurrency right now.
Institutions, retailers, and miners are among the sellers Ethereum
Simultaneously, the number of “sellers” grows by the day. To begin with, institutions are limiting their exposure to ETH since it has fallen short of their expectations. In addition, following the Terra (LUNA) fiasco and other large collapses in recent weeks, several institutional players are in desperate need of funds to repay their losses.
Retail ETH holders must also sell their bags since they are “bleeding in all directions.” Many projects are in the same boat: they require funds to cover their expenses.
As ETH continues to fall, “short sellers” and miners are two more types of sellers: on May 27, 2022, it reached $1,600, which is 60 percent below its November ATH.
Last but not least, Mr. Kang adds, investors who were interested in selling previously but were waiting for a “bounce” are losing hope that Ethereum (ETH) will return.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
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