Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ethereum apps hold $330B in user deposits, maintaining L1 dominance

12/09/2025

Virtual Protocol’s Bold $12.7M ETH for cbBTC Swap Unveils Astounding

12/09/2025

Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

12/09/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

    12/09/2025

    Ethereum price holds steady as Binance exchange supply shrinks, sparking hopes of a rally

    12/09/2025

    What Options Data Point to for Bitcoin (BTC) and Ethereum (ETH)

    12/09/2025

    BlackRock dwarfs competitors with $150 million Ethereum purchase in a day

    12/09/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    NFT Social Engagement Soars as LINK, PENGU, and APE Dominate Rankings

    11/09/2025

    Tokenized Pokémon Cards Are Hot. Lending Them for Crypto Is a Different Story

    10/09/2025

    Ordinals Scrapyard turns Bitcoin NFT wreckage into tax write-offs

    09/09/2025

    OpenSea Makes Big Moves in Final Sprint to $SEA

    09/09/2025

    Ethereum apps hold $330B in user deposits, maintaining L1 dominance

    12/09/2025

    Virtual Protocol’s Bold $12.7M ETH for cbBTC Swap Unveils Astounding

    12/09/2025

    Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

    12/09/2025

    South Korean Lawmakers Invest in Bitcoin, XRP, and Meme Coins

    12/09/2025
  • Blockchain

    Ethereum apps hold $330B in user deposits, maintaining L1 dominance

    12/09/2025

    Kaia and Taiwan Mobile Join Forces to Accelerate Taiwan’s Web3 Expansion

    12/09/2025

    Qatar Financial Centre Launches Blockchain Proof of Concept to Advance Islamic Finance

    12/09/2025

    Orochi Network Unveils zkDatabase Alliance to Usher in a New Era of Trustless Data

    12/09/2025

    Does crypto really need more blockchains?

    12/09/2025
  • DeFi

    Virtual Protocol’s Bold $12.7M ETH for cbBTC Swap Unveils Astounding

    12/09/2025

    Blazpay Partners with Euler to Drive Autonomous DeFi with Multi-Agent Intelligence

    12/09/2025

    21Shares Launches DYDX Fund as Institutions Eye Crypto Derivatives Market

    12/09/2025

    the first multi-location native prime broker debuts on Solana

    12/09/2025

    Pendle’s Kinetiq Markets Surpass $1 Billion

    12/09/2025
  • Metaverse

    Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August

    12/09/2025

    CreataChain Joins LightCycle to Advance Fashion, Interoperability, and AI in Metaverse

    05/09/2025

    new institutional ‘trust’ layer to boost tokenized ESG investment

    04/09/2025

    Metaverse developer The Sandbox lays off 50% of staff and pivots to meme coin launchpad

    28/08/2025

    Meta Breaks Up AI Lab as Part of Superintelligence Push

    20/08/2025
  • Regulation

    South Korean Lawmakers Invest in Bitcoin, XRP, and Meme Coins

    12/09/2025

    Dwayne ‘The Rock’ Johnson Leads Kamala Harris as 2028 Democratic Presidential Hopeful on Polymarket

    12/09/2025

    Thailand’s Ex-PM Endorses Push to Build Regional Crypto Hub

    12/09/2025

    Vlad Tenev Pushes Robinhood Beyond Stocks

    12/09/2025

    U.S. Treasury Executes $1.4B Debt Buyback- Total Hits $7.4B

    12/09/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Altcoin in the Spotlight Announces $530 Million Deal and an Additional $310 Million Purchase

    11/09/2025

    Coinbase adds Sei, Pepe, Bonk and PUMP as collateral for perpetual futures trading

    11/09/2025

    Largest Russian bank Sberbank set to launch Bitcoin and Ethereum crypto derivatives

    11/09/2025

    Alchemy Pay Enters South Africa, Offers Support for ZAR On-Ramps via Bank Transfers

    11/09/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Undeads Games TVL Reached $30M+

    12/09/2025

    GameFi.org Joins Somnia to Accelerate Blockchain Gaming Advancement

    10/09/2025

    Intelligent Agents Set to Reshape Blockchain Gaming Ecosystems, Gaming Director Says

    09/09/2025

    XRPL Gamechain Testnet and Pudgy Party Launch

    08/09/2025

    Will miners sell or pivot amid AI power land‑grab?

    12/09/2025

    Brazil Clamps Down on Illegal Rio de Janeiro Crypto Mining Operation

    12/09/2025

    Hong Kong Police Arrest Two Over Alleged Crypto Mining in Care Homes

    11/09/2025

    Bitcoin’s Computing Muscle Hits 1,027 EH/s Benchmark, But Hashprice Shrinks 8.39%

    11/09/2025

    Nigerian Anti-Corruption Agency Chair Warns of Crypto Risks and Calls for Stronger Regulation

    12/09/2025

    SEC chair says most tokens are not securities, backs ‘super-app’ platforms

    12/09/2025

    Donald Trump’s Plans Thwarted! US District Court Rules on Fed Member Trump Tried to Dismiss

    12/09/2025

    Block defeats shareholder lawsuit over 2021 Cash App data breach

    12/09/2025

    Ethereum apps hold $330B in user deposits, maintaining L1 dominance

    12/09/2025

    Virtual Protocol’s Bold $12.7M ETH for cbBTC Swap Unveils Astounding

    12/09/2025

    Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

    12/09/2025

    South Korean Lawmakers Invest in Bitcoin, XRP, and Meme Coins

    12/09/2025
  • MarketCap
NBTC News
Home»Ethereum»Here’s Why Ethereum Price Barely Moved Following Ark’s ETF Application
Ethereum

Here’s Why Ethereum Price Barely Moved Following Ark’s ETF Application

NBTCBy NBTC09/09/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The price of Ethereum seems to be back under the influence of the current market sentiment despite enjoying a relatively positive week. On Wednesday, September 6, Ark Invest filed for the first Ethereum spot exchange-traded fund (ETF) in the United States.

This ETF application had a tame impact on the price of Ether, with the cryptocurrency only climbing to $1,650 the following day. Moreover, the token has almost fully reversed the minor gains from the significant development.

Ethereum Price Registers 0.1% Rise Last Week – Here’s Why

Ethereum currently changes hands at about $1,628, according to data from CoinGecko. A negligible 0.1% price increase in the last seven days underscores the struggling market performance of the second-largest cryptocurrency.

A spot ETH exchange-traded fund is an investment vehicle that tracks the price of Ethereum on the spot market, allowing investors to buy and sell the crypto asset via a brokerage account. A product of this kind is expected to boost interest and investment in the Ether token.

Nevertheless, the price of ETH has remained relatively unmoved this week despite the optimistic news. A recent report by blockchain analytics firm IntoTheBlock has provided insight into why the news barely impacted the price of Ethereum.

‘Supply & Demand Balance’

According to the data analytics platform, the current supply and demand balance is one of the primary reasons why the ETH price continues to move sideways. “Large holdings are concentrated close to ETH’s current price, consolidating prices in a tight range,” IntoTheBlock said.

Source: IntoTheBlock

IntoTheBlock data shows that a total of 5.1 million ETH was acquired below the $1,600 mark to create support, while a total of 6.5 million ETH was purchased at a price above this level to establish resistance. The blockchain analytics firm concluded that traders agree to transact within a narrow range with a large concentration of ETH positions.

‘Automated Buying, Discretionary Selling’ 

Additionally, IntoTheBlock believes that while bullish traders seemed to have bought the news, “discretionary sellers” overtook the narrative not too long after. 

“A key factor behind the discretionary selling is likely to be FTX’s upcoming liquidation of reportedly $3B in crypto holdings,” the report read.

While FTX has yet to disclose when it intends to execute these liquidations, it is likely that recent activity on the exchange’s wallets alarmed the market. 

This sentiment also seems to be reflected in the performance of SOL after global payment giant VISA disclosed that it will use the Solana network for payment settlements. While the value of SOL jumped by more than 5% to trade above $20 immediately after the announcement, the cryptocurrency is back trading beneath $19.5.

With the Ethereum and Solana tokens constituting a significant portion of FTX’s holdings, it is likely that the slow market performance of these assets is driven by traders being cautious because of the impending liquidation.

Ethereum

ETH price continues to move sideways on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from Unsplash, chart from TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

12/09/2025

Ethereum price holds steady as Binance exchange supply shrinks, sparking hopes of a rally

12/09/2025

What Options Data Point to for Bitcoin (BTC) and Ethereum (ETH)

12/09/2025

BlackRock dwarfs competitors with $150 million Ethereum purchase in a day

12/09/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ethereum apps hold $330B in user deposits, maintaining L1 dominance

12/09/2025

Virtual Protocol’s Bold $12.7M ETH for cbBTC Swap Unveils Astounding

12/09/2025

Jack Ma-Linked Yunfeng Financial Bets Big on Ethereum With 10,000 ETH Purchase

12/09/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.