In the cryptocurrency world, Ethereum is now a hot topic due to rumors about the SEC rejecting spot EthereumETF proposals. This news is causing worry among traders, despite the positive trends seen in Bitcoin ETFs' approval and the recent BTC halving event.

Traders are anxious about how this decision could affect ETH's future, as signs point to a delay in approval leading to a more pessimistic outlook in the market.

The Ethereum price has climbed above $3,000, yet exchanges are experiencing a significant outflow of the digital currency. This outflow seems to indicate that investors are optimistic about further price hikes. A well-known analyst, Titan of Crypto, noted a massive outflow of over 260,000 ETH from exchanges, totaling over $781 million in the past week.

Notably, figures like Justin Sun are gathering ETH, and recent data suggests increased withdrawals from exchanges.

Recent analysis shows that ETH's net deposits have risen in the past week, signaling more selling activity among investors. Despite this, large holders of ETH, known as whales, continue to accumulate the digital currency, leading to an increase in the supply held by top addresses.

Currently, ETH is trading at $3,147.75 with a slight drop of 0.45%, and trading volume down by 4.07%.