Forecast Trend Report by Period
US investor demand for Ethereum has remained weaker than in the broader global market, according to an analysis.
CryptoQuant QuickTake said on August 4 that analyst Arab Chain put Ethereum’s Coinbase Premium Index at -0.0833. Ethereum was trading near $1,900.
The Coinbase Premium Index measures the price gap between Coinbase and Binance. A negative reading means Ethereum is trading at a lower price on Coinbase than on Binance, a sign that buying interest from US investors is relatively weak.
The index briefly turned positive in April. It slipped back into negative territory in early May and has remained below zero since. While trading has continued in the global market, sustained buying from US investors has yet to appear.
If the current pattern persists, Ethereum’s continued gains driven by institutional inflows could be limited, Arab Chain wrote. A return to positive territory that holds would signal that buying by US institutions has resumed.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.