Concerns in the market may have been triggered by a large outflow of funds from the grayscale ETHE, with ETH dropping over 7.5% in 24 hours

ChainCatcher news, in the first few hours of the East Asian trading day, ETH fell over 7.5% to above $3100, possibly due to ongoing market concerns about significant outflows from Grayscale's ETHE.

It is noteworthy that the price movement of ETH is closely related to Nvidia's stock, which dropped over 6% today. For most of this year, cryptocurrency prices have been closely correlated with the stock performance of the company.