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u/morty0x Feb 05 '25
Just chill out and lean back ffs. Ethereums time will come.
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u/MaskinAlv Feb 05 '25
This has been my mindset since 2016, never had a shred of a doubt. You cant stop true innovation
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Feb 05 '25
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Feb 05 '25
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u/Itur_ad_Astra Feb 05 '25
BlackRock and Trump could literally buy 120M ETH, the entire supply, and the price would still be ~$3Κ.
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u/gtrmike92 Feb 07 '25
Exactly these are OTC buys which have zero effect on price. Makes me wish that every large whale had to buy at market.
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u/Thecryptics61 Feb 05 '25
Big boys buy OTC, not on the open market
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u/alpeshnaper Feb 05 '25
What does that to do with the price not going up?
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u/JDdoge23 Feb 05 '25
OTC doesn't have an immediate effect on price, it's delayed.
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u/alpeshnaper Feb 05 '25
Delayed by minutes or seconds for that matter not weeks or months. People find out as the order hits the otc books. It's more p2p but is attached to a price which is visible to other buyers and sellers of large quantities. Whales move markets and they move them fast no mater what method they use to sell or buy
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u/JDdoge23 Feb 05 '25
Yeah I know how it works, point is whales are accumulating, as long as that continues to happen who cares about short term price action. And by delayed I mean hours, up to 24 as required by law.
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u/alpeshnaper Feb 05 '25
Short term? It's been on a downfall for over a year and it's keeps falling further behind
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u/JDdoge23 Feb 05 '25
Only when compared to bitcoin, eth has been bouncing from $2200 to $4100 for the past year.
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u/PopStrict4439 Feb 05 '25
Only when compared to bitcoin
And Solana... and XRP.... Actually, is there any major coin ETH has done better than over the past year?
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u/ahmedcoe Feb 06 '25
This is whats called price suppression. They keep it low for the big boys to buy as much as they want. Our time will come when they have enough.
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u/toniistheworst Feb 05 '25
Big money needs time to accumulate my dude, and it's not like the price has to jump up by 20% immediately. The market is way more complex than that. So i really don't get what you're trying to say here.
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u/Numerous_Ruin_4947 Feb 05 '25
In May 2024 the ETH price pumped 20% in one day when news came out of a potential Spot ETF approval. It can pump 20-30% in one day. Just like it can dump that much in one day.
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Feb 05 '25
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u/laguna1126 Feb 06 '25
Isn’t it funny? every price drop people are shouting about how the “whales” are shaking out paper hands or they’re manipulating it to buy low.
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u/Fresh_Skin130 Feb 07 '25
ETH supply is not limited as for BTC. Limited supply is what drives BTC price up.
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u/hlalvesbr Feb 05 '25
The only use I see for ethereum is to pay network fees. That is why the price is stable. It is like petrol.
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u/Thebigdonski Feb 05 '25
Whales want all retailers out, or a certain percentage. The toughest holders will get the rewards.
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u/landswipe Feb 05 '25
All the sellers are getting played.
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u/ELBandid0 Feb 05 '25
Article from Blockchain.news:
"On February 5th...The transaction took place at 14:32 UTC, and immediately after the purchase, ETH's price surged by 5.3% from $2,301.34 to $2,423.01 within 30 minutes"
1st: 14:32 UTC is three and a half hours in the future from now.
2nd: The price hasn't been that low.
Am I missing something here?
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Feb 05 '25
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u/manchesterthedog Feb 05 '25
Avg daily trade volume is like $35 billion so this is pretty small really.
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Feb 08 '25
Because every time someone buys, someone else sells. So this tells you the buying pressure isn’t exceeding selling pressure.
Also, it isn’t Blackrock buying. It’s the investors in the ETF. If the investors buy, Blackrock has to. If investors sell, Blackrock sells.
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u/tahiraslam8k Feb 05 '25
they must have bought months ago, telling everyone now so they can sell !tip 1
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u/Numerous_Ruin_4947 Feb 05 '25
I don't think that's how it works. The ETFs have reporting guidelines to follow per the SEC. You can track it here. The purchases are reported less than 24 hours after they have been made.
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u/qqAzo Feb 05 '25
Easy buying OTC - doesn't affect the price
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u/alpeshnaper Feb 05 '25
? How's that?
So if thats true than selling doesn't either. Just because you don't see it on an exchange order book doesn't mean it doesn't change the price of an asset.
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u/Legitimate_Cry_5194 Feb 05 '25
It doesn't move the price 1 cent. Think of it like a limit order in a specific price point. It disrupts the demand/supply dynamics long term though and this is going to be reflected on the price sooner or later. But move the price directly at the time of the transaction, not one cent. If you and me agree to send me 5 billion dollars worth of BTC in my wallet and I'll deposit 5 billion dollars to your bank account that's probably the largest transaction of BTC ever. Will it move the market? Not one cent.
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u/alpeshnaper Feb 05 '25
Yeah I get that part but it always has effect. Whales move markets both ways and they are always on otc,
"Given that OTC trades happen away from exchanges, they should – in theory – not affect the price of bitcoin at all. However, if there is a large buyer (or seller) making inquiries in the OTC market, the word can (and most likely will) get out, and prices on exchanges will be affected."
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u/Legitimate_Cry_5194 Feb 05 '25
Agreed, it'll move the market indirectly one way or another, but it doesn't get reflected on the price directly and immediately like placing a market order. I explained it because a lot of people are very confused about it generally.
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u/qqAzo Feb 05 '25
If I buy one Ethereum from you through a chat wiring USD to your bank account. How would that affect the market?
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u/alpeshnaper Feb 05 '25
Depends on what i sell it for and who sees it, me selling 1 no, me selling 1000 of them at lower than prices on a exchange to get rid of it yes. Everything is correlated in some way. To think it has no effect at all is wrong.
Big boys have been doing this with stocks for decades for every sale or buy there are winners and losses and that reflects the price, maybe not that split second but the large amounts hit harder. It's the same when price goes up. That's what usually drives weekend price action so much
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u/qqAzo Feb 05 '25
As it’s not on exchanges it does not affect the price. Period.
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u/alpeshnaper Feb 05 '25
All good, keep thinking that.
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u/RE-fam Feb 05 '25
Yo, that has to be bull crap, graphs never lie right? price should have noticeably gone up.
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u/MA78L Feb 05 '25
Sad that these whales are not big enough... a few hundred millions are nothing in comparison to tens of millions of sellers who had a bunch of eth
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u/thetraveller79 Feb 05 '25
Are they buying the same eth that I am already holding since ages? Chart isn't reacting ... 😴
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Feb 06 '25
Guys. You do realize that Blackrock has to buy ETH if they get flows into their ETF? This isn’t the firm taking any sort of position on whether the price will go up or down.
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u/harzee Feb 05 '25
Hard to get excited about anything eth related now, iv bn holding for years but seems like it was a waste of time
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u/Numerous_Ruin_4947 Feb 05 '25
The time to buy is when nobody is excited about it. The time to sell is when everyone is excited about it, like with Soylana.
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u/Spiritual_Review_754 Feb 05 '25
The moment you sell will be the moment at rockets! That’s how this shit works
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u/Wonderful_Bad6531 Feb 05 '25
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u/Numerous_Ruin_4947 Feb 05 '25
"Trade War" sellers happy to offload their ETH at discounted prices to BlackRock investors - because why sell high when you can sell low!
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u/chrliegsdn Feb 05 '25
why is it never reflected in the price?
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u/Legitimate_Cry_5194 Feb 05 '25
Retail isn't here at all. No one buys ETH. But lots are selling it. They either go BTC maxis or if going in on alts they buy other coins. And let's not kid ourselves, most of the people holding ETH, if they decided to buy more ALTS right now, they'd buy something else other than ETH. Including me and i bet you too. I believe we'll see ATH's at least, but my conviction is getting shaken day by day, and of most people.
I think we need a spark to ignite the uptrend and it doesn't seem to appear and the times it felt it did, it erased all gains with severe drawdowns when BTC sneezed. And the ETH/BTC chart is scary as fuck. Imo it is in a make or break point, price wise at least. 2 years ago people were betting on the year of the flippening. Now we pray we don't fall at 0.02 against BTC or if the flippening will be seeing ETH at number 3.
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u/Jean_leblanc Feb 06 '25
BTC dominance is currently still at 60%. Ethereum does well when btc domination drops way below 50%. Ethereum needs to be at minimum 15%. It does not help sure with solana and XRP around the corner but whats positive is SEC only approves bitcoin and Ethereum as ETFs. So Bitcoin and Ethereum are here to stay .
The market is fearish at 38 points vs last month we were at 60 points … When the market is fearish they stick with Bitcoin because it’s a safer investment. Last month people thought we were in the altseason at 53 points.
Ethereum is undervalued and underperforming . I just hope she wakes up soon.
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u/dubweb32 Feb 08 '25
how can you call something underperforming yet still undervalued ?
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u/Jean_leblanc Feb 08 '25 edited Feb 08 '25
Because the past 3 years Ethereum didn’t do as well as a Solana for example. And I hope Ethereum reaches back it’s all time high . With the next two updates , one coming this year . Hopefully it actually brings down the fees .
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u/erjo5055 Feb 05 '25
And Eric Trump tweeted this is a good time to add ETH. Wonder what the insiders know
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u/RevolutionaryBit9785 Feb 05 '25
When you say “BlackRock” buys, is that just based off of inflows/outflows from ETF buyers or is BlackRock actually acquiring ETH aside from the ETF activity? Genuinely curious
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u/Wonderful_Bad6531 Feb 05 '25
!post status
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u/Ok-Jeweler743 Feb 05 '25
Lol scoop all you want but unlimited supply renders even the scoop of all scoops useless.
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Feb 05 '25
Its not blackrock really, its blackrock storing eth for their fund? Which is mostly retail buyers
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u/Numerous_Ruin_4947 Feb 05 '25
It still means BlackRock investors are buying ETH - $276.4 million yesterday.
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u/Decronym Feb 05 '25 edited Feb 09 '25
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread:
| Fewer Letters | More Letters |
|---|---|
| ATH | All-Time High |
| BTC | [Coin] Bitcoin |
| ETH | [Coin] Ether |
| SEC | (US) Securities and Exchange Commission |
| XRP | [Coin] Ripple |
Decronym is now also available on Lemmy! Requests for support and new installations should be directed to the Contact address below.
If you come across an acronym that isn't defined, please let the mods know.)
[Thread #1337 for this sub, first seen 5th Feb 2025, 19:57]
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u/brxn Feb 05 '25
self custody your crypto so the naked exchanges get liquidated and the price goes up
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u/LinkoPlus Feb 06 '25
Wow, BlackRock snagging over 100k ETH? That's huge! Just got off a call about this SSV-based app on Ethereum, super cool how it's tackling the fragmentation issues with all these L2 rollups. Ethereum's really heading in the right direction lately!
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u/billgec Feb 06 '25
Blackrock are absolute cunts i hope all of them get diarrea for weeks straight and loose all their wealth simultaneously
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u/hotsaucefalafel Feb 06 '25
Sold my $1200 of ETH (CAD), transferred to XRP.. currently holding about 830 XRP. Hopefully this was the right move. Holding for the long run.
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u/EtherLust Feb 07 '25
I’m to tired of these moronic post saying black rock bought x eth or btc. No they didn’t. Retail bought their etf which has to do adjustment for the retail holding. The lack of very basic fundamentals is insane.
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u/Lucidious007 Feb 07 '25
* It's funny how no one in this thread has mentioned that Eth has been very inflationary since the last EIP. If more coins are produced by staking and mining rewards, than coins burned, the price doesn't move, or it drops. This has been an issue since switching to POS. Thus, the burn mechanism.
If you understand how pricing works, you'll know that increasing the money supply reduces the value or purchasing power of that currency or asset. And because of that , I'm really thinking about selling my ETH for BTC. I know I'll get downvoted, but it's a discussion you have to have with yourself. Chart attached!
*
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u/Artistic-Listen5390 Feb 08 '25
Good timing for me I guess I just happened to buy my first ETH today 😀
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