Ethereum ETFs Record Largest Inflows Since August Amid ETH’s Rally To $2,900
2024年11月9日 - 5:00PM
NEWSBTC
Ethereum (ETH) registered a remarkable performance following Donald
Trump’s victory in the November 5 US elections. The second-largest
cryptocurrency by market capitalization has jumped 21.9% in the
past three days, reigniting investors’ bullish sentiment for the
crypto and ETH-based investment products. Related Reading: Ethereum
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Enhance Trading Ethereum ETFs See Third Best-performing Day Amid
ETH’s price rally, spot Ethereum exchange-traded funds (ETFs) have
recorded their best-performing day in 13 weeks. Launched in late
July, ETH ETFs have seen a shaky performance in the past few
months. The crypto investment products surpassed experts’
expectations during its first two days. However, ETH ETFs recorded
massive outflows amid Q3 market retraces. Ethereum-based products
saw their second-largest single-day inflow since launch during the
early August correction. As the market recovered from the crash,
Ethereum ETFs registered $98.4 million in positive net flows, led
by Blackrock’s ETHA. Since then, the crypto products have struggled
to break past the $20 million mark, only registering inflows above
that range five times in three months. ETH’s current rally has
seemingly improved sentiment around the cryptocurrency and the
investment products based on it, as it has recorded a notable
performance during the last two days. Ethereum ETFs recorded their
best-performing day in six weeks, seeing $52.3 million in inflows
on Wednesday. Meanwhile, the investment products saw their
third-largest single-day performance on Thursday and their best day
since August 6, with $79.7 million in inflows. ETH Rallies 16%, Is
$3,500 Next? Ethereum has seen a massive 16.6% surge in the last
seven days, jumping from the $2,500 support zone to the $2,900 mark
lost mid-Q3. The “King of Altcoins” lost the $3,000 support zone in
early August, recording a 23% correction during the market
retraces. The cryptocurrency struggled to break past the crucial
$2,800 resistance level, being rejected from this level for the
past three months. However, Republican candidate Donald Trump’s
victory in the Thursday presidential elections has given the whole
crypto market a renewed push toward the second leg of the bull run.
In the last three days, the flagship cryptocurrency, Bitcoin (BTC),
has entered price discovery mode, setting its latest all-time high
(ATH) at $76,800 on Thursday. Meanwhile, Ethereum saw its price
move from the $2,400 range to near the long-awaited $3,000
resistance. Crypto analyst Rekt Capital noted that ETH’s recent
performance filled its GME gap, which formed in early August. The
gap saw ETH’s price go from $3,000 to $2,700 before crashing on
August 5. Related Reading: Solana (SOL) Looks ‘More Bullish Than
Before’ After Flipping BNB As 4th Largest Crypto Per the analyst, a
weekly close above the current levels, followed by a retest, would
confirm ETH’s breakout from the 3-month range. Moreover, reclaiming
the $2,900 resistance would “set ETH up for a move to $3,500 over
time,” which could further propel Ethereum’s rally toward its
yearly high above $4,000. As of this writing, Ethereum is trading
at $2,925, a 4.2% increase in the last 24 hours. Featured Image
from Unsplash.com, Chart from TradingView.com
Ethereum (COIN:ETHUSD)
過去 株価チャート
から 11 2024 まで 12 2024
Ethereum (COIN:ETHUSD)
過去 株価チャート
から 12 2023 まで 12 2024