tl;dr
Grayscale, a digital assets manager, transferred $358 million worth of Ethereum to Coinbase Prime. This transfer involved 110,867 ETH and was likely intended for sale on the open market. Despite the launch of the first spot Ethereum exchange-traded funds in the US, Ethereum experienced an 8% price c...
Grayscale, a digital assets manager, transferred $358 million worth of Ethereum to Coinbase Prime, involving 110,867 ETH likely for sale on the open market. Despite the launch of the first spot Ethereum exchange-traded funds (ETFs) in the US, Ethereum saw an 8% price correction in the last week.
Previously, Grayscale had a net outflow of $470.8 million, transferring $485.6 million worth of Ethereum to Coinbase Prime and receiving $14.8 million worth of Ethereum. Grayscale currently holds 2,489,075 ETH valued at $7.9 billion and has over $8.59 billion worth of ETH and $27 billion worth of crypto assets. Bloomberg ETF analyst Eric Balchunas notes that ETH ETF flows are healthy enough to offset Grayscale's massive outflows.
Grayscale sent $358 million worth of Ethereum to Coinbase Prime for potential sale on the open market. Meanwhile, despite an 8% price correction, and the launch of the first spot ETH ETFs in the US, Grayscale's net outflows continue. At present, Ethereum is valued at $3,244.
More about Youdao Inc
Youdao, Inc., an Internet technology company, provides online content, community, communication, and commerce services in China. The company is headquartered in Hangzhou, China.
Industry: TRADE & SERVICES
Sector: SERVICES-EDUCATIONAL SERVICES
Market Cap: 414,731,000
Dividend Yield: None
EPS: None
Price Change: -0.38
Price: 46.66
P/E Ratio: -0.0593
Volume: 5,617,797,000
52 Week High: 6.02
52 Week Low: 3.683
Beta: 0.197