Bullish sign for Ethereum as exchange balances drop
Summary
Ethereum has had an eventful week with a spot ETH ETF set to launch by the end of summer and the SEC concluding its investigation into Ethereum 2.0, indicating that ETH sales are not securities transactions. June 16 saw a significant price peak followed by a dip, suggesting a potential consolidation period. However, trading surged on June 18, with $7.44 billion on CEXs and $864.67 million on DEXs, hinting at a deeper trend. There has been a consistent decrease in ETH held in exchange wallets since May.
