{"id":24628,"date":"2024-07-08T21:30:42","date_gmt":"2024-07-08T18:30:42","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24628"},"modified":"2024-07-08T17:20:53","modified_gmt":"2024-07-08T14:20:53","slug":"ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts\/","title":{"rendered":"Ethereum Bulls Reignited as US Investors Signal Bottom with Vanishing Discounts"},"content":{"rendered":"<p>Ethereum price is giving signs of recovery, surpassing $3,000 as seller exhaustion kicks in and anticipation for spot exchange-traded funds (ETFs) builds.<\/p>\n<p>Ethereum bounced back above $3,000 after retracing from a harsh sell-off that dragged the price down to $2,800 three days ago. The reversal coincides with the easing of discounts on Grayscale <a href=\"https:\/\/coinengineer.net\/blog\/tron-develops-gas-fee-free-stablecoin-for-ethereum-and-tron-blockchains\/\">Ethereum<\/a> Trust and Coinbase Premium, which are seen as positive signals by bullish investors.<\/p>\n<p><strong>Spot Ethereum ETF Launch Anticipated<\/strong><\/p>\n<p>Experts believe this price rebound signals a potential bottom before the much-awaited spot Ethereum ETFs make their debut in the US market.<\/p>\n<p>CryptoQuant&#8217;s Ether basis index, which measures the difference between the ETH\/USD spot price on Coinbase used by US investors and the ETH\/USDT spot price on Binance, has returned to neutral levels from a deep discount of -0.19 in late June. Notably, the disappearance of discounts in Grayscale Ethereum Trust&#8217;s net asset value (NAV) for the first time in two years indicates rising investor confidence and increasing demand for Ethereum-related investments.<\/p>\n<p>The vanishing premiums (discounts) on Coinbase and Grayscale suggest seller exhaustion and a potential price bottom.<\/p>\n<p><strong>Ethereum ETF Primed for Massive Demand<\/strong><\/p>\n<p>On the other hand, expectations are high that the Ethereum ETF could see billions of dollars in demand and further boost interest in the Ethereum network.<\/p>\n<p>Analysts at IntoTheBlock, in their weekly newsletter, said they estimate potential demand for the Ethereum ETF could result in inflows of around 30% of what was witnessed during the introduction of the Bitcoin ETF.<\/p>\n<p data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>,<\/a>\u00a0<a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is giving signs of recovery, surpassing $3,000 as seller exhaustion kicks in and anticipation for spot exchange-traded funds (ETFs) builds. Ethereum bounced back above $3,000 after retracing from a harsh sell-off that dragged the price down to $2,800 three days ago. The reversal coincides with the easing of discounts on Grayscale Ethereum Trust<\/p>\n","protected":false},"author":1,"featured_media":22094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,151,105,1000,1096,7188],"class_list":["post-24628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-coinbase","tag-ethereum","tag-ethereum-etf","tag-grayscale","tag-intotheblock"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Bulls Reignited as US Investors Signal Bottom with Vanishing Discounts - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Bulls Reignited as US Investors Signal Bottom with Vanishing Discounts - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is giving signs of recovery, surpassing $3,000 as seller exhaustion kicks in and anticipation for spot exchange-traded funds (ETFs) builds. Ethereum bounced back above $3,000 after retracing from a harsh sell-off that dragged the price down to $2,800 three days ago. The reversal coincides with the easing of discounts on Grayscale Ethereum Trust\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-08T18:30:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-08T14:20:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/ethereum-price-increase.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ethereum-bulls-reignited-as-us-investors-signal-bottom-with-vanishing-discounts\/\",\"name\":\"Ethereum Bulls Reignited as US Investors Signal Bottom with Vanishing Discounts - 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