Retail traders are currently dominating the action on Ethereum, according to data analysis by Vini Barbosa. This is evidenced by the high social dominance of Ethereum compared to other cryptocurrencies, suggesting that retail traders are driving the market. Additionally, on-chain transaction volume on Ethereum is relatively low, further indicating the involvement of retail traders. The recent approval of Ethereum spot ETFs by the SEC has contributed to increased interest and activity from retail traders. However, it is important to note that the ETFs still require further approvals before trading can begin. The price of Ethereum has experienced a slight increase following the news, but caution is advised as a correction may occur if retail traders’ dominance weakens.
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Retail traders dominate the action on Ethereum as the ETF narrative takes over
