Since the listing of nine Ethereum Spot ETFs on July 23, the average ETH 5% market depth of the US CEX has dropped by 20% to about $14 million, with weaker liquidity and increased sensitivity to large transactions. According to CCData, the cumulative outflow of Ethereum Spot ETFs since listing exceeded $500 million, and the price of Ethereum fell by more than 25% to $2,380. The analysis believes that poor market conditions and reduced summer trading activity are the main reasons. (CoinDesk)