- An Ethereum genesis wallet moved funds for the first time in nearly ten years, transferring 0.002 ETH in two transactions.
- Spot Ethereum ETFs recorded a $2.1 million net outflow on June 13, ending a 19-day inflow streak.
- Futures funding rates showed mixed sentiment, with spikes above 0.009 percent in late May and early June.
An Ethereum wallet that received 2,000 ETH during the genesis block has made its first transactions in nearly a decade. The on-chain information shows that the wallet was credited with 2,000 ETH 3,607 days ago, with a value of approximately $620, based on the 2015 initial coin offering price of $0.31 per ETH. Based on today’s current rate of around $2,552 per ETH, the initial supply is worth more than 5 million.
The wallet was in action 44 minutes before the press time, moving 0.001 ETH in two cases. The two transfers were to the same address, and the amount moved is 0.002 ETH. The address that sent the amount has retained all the balance of the genesis allocation. These were the initial recorded movements since Ethereum’s launch, bringing attention from blockchain observers.
Ethereum ETFs End 19-Day Inflow Streak With Net Outflows
On June 13, a first-time net withdrawal of U.S.-listed spot Ethereum exchange-traded funds (ETFs) was observed in weeks. Based on Farside data, the ETFs showed a net outflow of 2.1 million, ending a 19-day record streak of inflows. That run started on May 16 and featured a break on May 26 when neither was published to mark the U.S. Memorial Day holiday.
However, the ETFs gained $1.37 billion during the 19-day run, accounting for about 35% of the total $3.87 billion net inflows since launch. The largest daily inflow occurred on June 11, with $240.3 million recorded, the highest single-day figure in over four months.
The previous streak of continuous inflows was broken on December 19 following the election of U.S. President Donald Trump in November. Despite the current 19-day streak having allowed Ethereum to gain, the movement has not been high enough to retrace the price at the beginning of the streak.
Funding Rates and Price Action Show Mixed Futures Sentiment
The open interest-weighted Ethereum futures funding rates have fluctuated between negative and positive for three months. The figures obtained from March 18th to June 14 indicate a countermove between long and short sides. Most notable increases were witnessed during the end of May and in the first month of June, where the rates went above 0.009%, indicating the greater demand towards the long positions.
Source: Coinglass
The same volatility is correlated with Ethereum’s action. The asset moved down at a steady pace in March and April and soared in the early days of May. By early June, the price rose to $2,700, up about 1,800. Most of the quarter was progressing upward despite outlining some temporary pullbacks.
Furthermore, outflows in ETFs in recent times and price movement stagnation indicate continued uncertainty. The negative divergence between the inflows and performance shows a wary attitude by the institutional and retail participants.
