Retail traders dominate the action on Ethereum as the ETF narrative takes over
The Securities and Exchange Commission (SEC) approved, on May 23, securities exchanges’ listing of Ethereum (ETH) spot exchange-traded funds (ETFs). ETH’s price surged following the news as related keywords started dominating the cryptocurrency space. However, Vini Barbosa spotted divergent data on Santiment’s Sanbase Pro charts, suggesting retail traders currently dominate the Ethereum market. In particular, Ethereum’s social dominance reached year-over-year highs at 14.21%, strongly dominating other cryptocurrencies in social indicators. This index alone usually suggests retail traders are the protagonists in the current action, and whales have previously opened positions. Picks for you Donald Trump declares support for crypto, insists US must not settle for ‘second place’ 35 mins...