ETH Loans Fell From 42% to 4%: 'No One Is Short Any More'

Genesis Global Trading, one of the largest OTC cryptocurrency dealers, has loaned $553 million to institutional borrowers since March. They said that some of the largest loans were made in Ethereum (ETH) to hedge funds which are typically using the borrowed assets for short positions

At the end of Q1 ETH loans made up of 42% of outstanding balances, but theu fell to 4% as of the end of Q3 following an 80% decline in ETH prices.

Ethereum

ETH
Price
248.70 USD -2.05%
0.03155000 BTC -0.41%
Volume, 24h
2,743,026,575 USD
-10.37%
Marketcap
26,751,239,239 USD
11%
Emission

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Ethereum dips nearly 5% as cryptos fall slightly over the past day

How the Fab Five Fared Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone down -3.79% in aggregate. The best performer of the bunch was Litecoin, which went down 2.97%. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of -4.88%. None of the coins had up days, which indicates a wave of bearishness befell the sector as a whole. CoinDirect, Gate, Yobit, Stex, Binance, DDEX Key Technical Moves Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Technical traders may also wish to note the following developments in price action: If you’re looking for a coin in a solid uptrend, then there is some good news: in spite of it being a down day across the board, all the coins remain in an uptrend. So take your pick. 🙂 As such, for those who wish to ride the trend, this could be an opportunity to buy a dip. Insights from the Blockchains As has typically been the case for some time now, Ethereum recorded 798,155 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 36% over Ripple, which had the second most transactions recorded on its chain. Ethereum’s transaction fee is greater than Ripple’s transaction fee; in and of itself, this may imply consumers are opting for Ethereum in spite of its higher fees. Bitcoin Cash was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $100,385,120 US dollars. This is now the second day in a row that Bitcoin Cash, rather than Bitcoin itself, has been the chain reporting the largest transaction in the crypto space. This development may be something to continue monitoring. Article by SixJupiter The post Ethereum dips nearly 5% as cryptos fall slightly over the past day appeared first on Coin Insider.
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Ethereum Price Prediction Today: Daily (ETH) Value Forecast – May 20

On the upside, if the price is sustained above the moving averages, the bulls are likely to retest the $260 and $280 resistance levels. However, if the bulls fail to break the resistance levels, the crypto’s price will fall back to the bearish zone. ETH /USD Medium-term Trend: Ranging Resistance Levels: $250, $260, $270 Support […]
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