Nansen Says Ethereum Spot Buying Surges 7.2-Fold Ahead of US CPI

Ethereum accumulation is building ahead of the Aug. 12 US consumer price index release, according to on-chain analytics platform Nansen.

Nansen said on Aug. 11 that spot Ether purchases by institutional investors, including asset managers, had climbed to 7.2 times the usual level. Professional traders, however, maintained net short positions in Bitcoin and Ether derivatives, signaling caution over inflation and the possibility of further interest-rate hikes.

Ether traded at $1,863.71 on Binance's USDT market as of 4:10 a.m. on Aug. 12, down 0.59% from a day earlier.