Spot Ether Stock Exchange (ETFs) found that the total net assets decreased more than half in the last three months as the price of Ethereum continues to sink and the investor outputs increased.
The total net assets of ETH -backed ETFs traded in the United States has fallen over 56% since December and fell from an entrance of 2 billion dollars, fell to steep losses fed by the decrease in prices and net salvation.
According to data SosovalueWhile the January saw only 101 million dollars, February brought 60 million dollars – showing an inadequate and negative decline tendency to balance falling ETH prices.
Ethereum began to be traded around $ 3,700 a year. During the writing, it fell to approximately $ 1,480-to a decrease of 56% to five years. On the other hand, Bitcoin decreased only 18% in the same period.
This sharp price decrease reversed the previous acceleration in ETFs ETFs. March net outputs brought more than $ 400 million net outputs and this month withdrew more than $ 56 million. As a result, the total net assets under management in Spot ETFs have collapsed.
Read More: Ripple, to buy Prime Broker Hidden Road in an agreement of $ 1.25 billion
The price of Ethereum collapses in the midst of record defi use
Nevertheless, the benefit of Ethereum tells a different story. The total value (TVL) locked in the defi applications built on the network has rose to 27.68 million ETH. Fashion show.
ETH -term measured by the terms of 12.7 million ETH seen in the beginning of 2024 more than twice. However, with the falling price of Ether, the dollar value of this TVL is more than $ 46.5 billion – more than half of the 100 billion dollar record from the end of 2021.
Even if it moves to compete with it in the field of decentralized finance, the use is growing. These networks, including Solana, polygon, base and bnb chain, see price decreases considering the momentum of the current market.
According to Coingecko data, Ethereum is currently trading at $ 1,462 with a decrease of 5.8% in the last 24 hours and 60% in a year.
Moreover, Bitcoin (BTC) has seen a decrease in its value in the last seven days by 9.9%, mostly US President Donald Trump, bringing global markets to every country in the world, bringing tariffs.
