Ethereum price prediction: $2.9 billion outflow, what to watch now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The context: around 143 billion dollars in stablecoins sit on the Ethereum blockchain, 2.9 billion less than 30 days ago, while ether stands at 2,306.86 dollars on Tuesday morning. Balance, outflow and price are documented; what our editorial team concludes from that for the days around Wednesday's rate decision comes further down in the text.Around 143 billion dollars in stablecoins sit on the Ethereum blockchain on Tuesday morning, and that balance has shrunk by 2.9 billion dollars in 30 days. This is the number that says more about the coming days than the price itself: stablecoins are the cash of the blockchain, and how much of it lies ready decides whether a buying impulse has any mass behind it at all. Ether, meanwhile, stands at 2,306.86 dollars, 0.87 percent below Monday morning's level. What is documented: the stablecoin balance on Ethereum is falling for the third month in a row, network fees picked up again on Monday, and the options market is pricing a 2.8 percent ra...