Analysis: Since the Ethereum spot ETF was approved, the market depth of ETH has dropped by 20%

Since the listing of nine Ethereum spot ETFs on July 23, the average 5% market depth of ETH on US CEX has dropped by 20% to about $14 million, liquidity has weakened, and sensitivity to large transactions has increased. Data from CCData shows that Ethereum spot ETFs have accumulated outflows of more than $500 million since listing, and the price of Ethereum has fallen by more than 25% to $2,380. Analysts believe that poor market conditions and reduced trading activity in the summer are the main reasons. (CoinDesk)