Zhu Su, the founder of Three Arrows Capital, announced on social media platform X yesterday (25th) that he has sold 50% of his TAO, SUI, and POPCAT tokens and switched to ETH, using his position to bet on the rise of Ethereum.
(Previous summary:
Cardano founder fires shots: Ethereum is too autocratic! Development direction relies too heavily on V God’s decision, ADA is more democratic.)
(Background supplement:
Prejudice or foresight? Why I still firmly believe in Ethereum.)
Table of Contents:
Zhu Su adds positions in ETH
QCP Broadcast: Ethereum options switch from bearish to bullish
Net inflow of $62.5 million into Ethereum spot ETF on the 24th
Ethereum has not performed well in this bull market, with the Ethereum Foundation and whales selling large amounts and ecosystem innovation stagnating, leading to continuous negative sentiment towards ETH.
Zhu Su Adds Positions in ETH
However, after a period of decline in Ethereum, Zhu Su, the founder of Three Arrows Capital, announced on social media platform X yesterday (25th) that he has sold 50% of his TAO, SUI, and POPCAT tokens and switched to ETH, using his position to bet on the rise of Ethereum.
QCP Broadcast: Ethereum options switch from bearish to bullish
On the other hand, a report released by QCP Broadcast on Tuesday (24th) also pointed out that with the US Federal Reserve announcing a significant 50 basis point rate cut, followed by a large liquidity injection by the Chinese authorities, it suggests that the loose global monetary policy environment may continue.
In this context, QCP Broadcast pointed out that Ethereum has seen a greater increase in recent gains compared to Bitcoin, and the ETH to BTC exchange rate has also risen (currently at 0.04114), indicating a renewed market confidence in Ethereum.
Recent rise in ETH to BTC exchange rate
Net inflow of $62.5 million into Ethereum spot ETF on the 24th
According to Sosovalue data, as of September 24th, there was good news of net inflow of funds into Ethereum spot ETF, with a daily inflow of $62.5 million, the highest record since early August. If the net inflow of funds into spot ETF continues, it will further contribute to the rise of ETH.
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