Ethereum News

Ethereum was trading at $2,919 at press time, down 0.5% over the past 24 hours. The second-largest cryptocurrency has slid 12% over the past week and is now trading about 41% below its August all-time high of $4,946.

At the same time, trading activity has cooled noticeably. Daily volume fell to $22.3 billion, down 27% from the prior session, suggesting fewer traders are stepping in as prices continue to stall beneath a key resistance level.

Derivatives data shows traders cutting exposure. According to CoinGlass data, ETH derivatives volume fell 31% to $58 billion, while open interest declined 2.2% to $36.87 billion. Together, these moves indicate that positions are being unwound rather than new leverage being added, a dynamic commonly observed during market pullbacks.

ETH ETF outflows extend to fourth straight day

Pressure on Ethereum eth0.02%Ethereum price has been compounded by continued outflows from U.S. spot ETH ETFs. Data from SoSoValue shows that ETH ETFs recorded net outflows of $224.26 million on Dec. 16, marking the fourth consecutive day of withdrawals.

BlackRock’s ETHA led the exodus, with $221 million exiting the fund, while Fidelity’s FETH saw a smaller $2.94 million outflow. Weekly ETH ETF outflows have now reached $449 million.