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Spot Ethereum ETFs See Record Daily Inflows As ETH Price Shoots to $3,400

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3 weeks ago

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The spot Ethereum ETFs have been once again in the limelight capturing the largest daily inflows since inception on Monday. As a result, the ETH price has also gained an additional 5.5% shooting all the way to the $3,370 level. With this move, ETH has extended its weekly gains to nearly 38%.

Spot Ethereum ETFs Steal the Show

Yesterday, November 11, the spot Ethereum ETF saw record inflows of $295 million hitting a new milestone for the daily inflows. Fiedlity’s FETH led the show with $115.5 million in daily inflows, On the other hand, BlackRock’s ETHA also saw $100 million in inflows while Grayscale mini-ETF (ETH) saw $63.3 million in inflows, per the data from Farside Investors.

Ever since Donald Trump’s victory last week, the Ethereum ETF inflows have surged every consecutive day. In the past four days, the Ether ETF inflows have crossed more than $500 million. Both BlackRock and Fidelity have contributed to this majorly.

This goes to show that the tide has been really turning around and Ethereum ETFs are also catching up with the inflows as seen by the spot Bitcoin ETFs in recent weeks. On Monday, the spot Bitcoin ETF inflows stood at over $1 billion, led by BlackRock’s IBIT.

CoinShares analyst James Butterfill highlights that these are the largest inflows since the launch of Ethereum ETFs in July. This happened as more investors turned to traditional financial products for exposure to major cryptocurrencies.

ETH Price Action Ahead

As said, the Ethereum price has been on an unstoppable rally with a 38% gain on the weekly chart. ETH is now looking forward to hitting key milestones of $4,000 and moving further to its new all-time high levels.

As per the technical chart, the ETH price is now eyeing a breakout from its broadening wedge pattern. Following this breakout, the bulls can take it all the way to $5,450.

Amid its recent surge, Ethereum has overtaken banking giants like Bank of America, as its valuation soars past $400 billion. Moreover, Ethereum derivatives investors are anticipating continued bullish momentum, with Ethereum’s futures open interest reaching a record high of $17.93 billion on Monday.

Thus, if ETH continues to show strength, the overall altcoin market will continue to flourish moving ahead from here.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Altcoin

ETH Price to $4,000 Imminent as Ethereum ETF Inflows Surge Again

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45 minutes ago

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December 4, 2024

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Ethereum’s native crypto ETH is yet to participate in the altcoin market rally while peers like XRP, Cardano (ADA), BNB, have witnessed strong gains. The ETH price is holding firm at around $3,700 as investors predicted an immediate rally to $4,000 as Ethereum ETF inflows have surged once again.

ETH Price Surge to $4,000 Soon?

While Ethereum has not witnessed a rally this altcoin season in comparison to peers like XRP, ADA, and BNB, the bulls have defended the strong ETH support levels.

Crypto analyst IncomeSharks noted that Ethereum’s daily support remains intact, reinforcing confidence in holding positions entered earlier. “I wouldn’t chase ETH at this level, but for now, daily support is holding,” noted the analyst.

The analyst emphasized a commitment to on-chain utility plays and set a downside threshold at $3,200, indicating that a drop below this level would trigger an Ethereum sell-off. On the upside, IncomeSharks maintains a target of $4,000 or higher for Ethereum in the near term.

Courtesy: IncomeSharks

On the multi-year chart, ETH price has also formed a giant cup-and-handle pattern since November 2021. However, Ethereum first needs to confirm its breakout above $3,800, which will set the stage for explosive growth ahead. Analysts estimate a price target of $7,346 based on the pattern’s historical reliability in forecasting significant gains.

Source: TradingView / venturefounder

As of press time, ETH price is trading 2.15% up at $3688.51 with a market cap of $444 billion. Ethereum’s on-chain volume surged to $183.7 billion in November, marking its highest monthly total since early 2021 and a 9% increase over the previous yearly peak in March.

This growth highlights a significant capital rotation into on-chain activities, driven partly by a revival in Ethereum-based NFT trading. Ethereum-based NFT marketplaces recorded their highest volumes since June.

Spot Ethereum ETF Inflows Surge Again

The inflows into spot Ethereum ETF remain strong showing a surge again on Tuesday, December 3. After Monday’s $24 million in inflows, the net inflows on Tuesday surged to $132 million led by Fidelity’s FETH and BlackRock’s ETHA.

FETH recorded net inflows of $73.7 million while ETHA saw inflows of more than $65.3 million. The positive factor was that the outflows from Grayscale’s ETHE dropped significantly to $6.4 million, from more than $44.3 million, the day before., per the data from Farside Investors.

The BlackRock Ethereum ETF has already crossed $2.2 billion in inflows since inception while Fidelity’s FETH is just short of hitting the $1 billion milestone. Last Friday, the daily inflows in Ether ETFs also surpassed that of Bitcoin ETF daily inflows. This has become catalyst for a recent jump in ETH price.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Pepe Coin Whales Accumulation Signals 7x Gains For PEPE Looms

Published

2 hours ago

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December 4, 2024

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Pepe Coin whales’ constant accumulation of the frog-themed meme token amid a bull cycle has birthed an optimistic wave among investors globally. On Wednesday, on-chain data indicated that a whale continued bagging the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, with other stats indicating heightened market interest in the asset, a potential 7x pump remains much awaited by market enthusiasts across the crypto landscape.

Pepe Coin Whale Accumulation Upbeat, Crypto Market Bullish

As per data by Lookonchain, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, the wallet address 0x160…b5B bought 337.09 billion PEPE, worth $6.92 million, from Binance over the past 20 days. This massive accumulation, in turn, set off optimistic waves for the token, flagging heightened buying pressure.

Simultaneously, Etherscan data showcased a gradual rise in the asset’s holders at the time of reporting. Per the data, nearly 334,000 addresses held Pepe Coin, sparking optimism amid a bullish Q4 crypto market.

Etherscan data on Pepe Coin Etherscan data on Pepe Coin

Also, it’s worth mentioning that this one of the top meme coins was recently integrated into custody on Coinbase Prime. This enhanced offering further paves the way for money to inflow into the token, attracting a wide range of investors. Simultaneously, the frog-themed meme crypto’s ongoing bull run reflects market bullishness in the wake of the heightened buying and enhanced offerings.

PEPE Price To Surge 7x?

At the time of reporting, PEPE price was up nearly 0.5% and traded at $0.00002065. Its intraday low and high were $0.00001908 and $0.00002104, respectively. Further, the weekly and monthly charts for the coin showcased gains worth 12% and 154%, respectively. Altogether, the bullish trajectory, followed by increased buying, has solidified investors’ optimism surrounding further gains for the meme token.

Intriguingly, a recent PEPE price analysis by CoinGape pointed out that the meme coin could further rally 7x, phenomenally extending gains. This bullish analysis also rides the back of rising Pepe Coin whale accumulations, as over 10 trillion tokens were reported to be accumulated.

Overall, the abovementioned stats paint a highly bullish scenario for the frog-themed meme token, indicating more gains possible in light of burgeoning market interest. Market watchers continue to eye the coin, primarily reflecting bullish sentiments over future movements.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC at $95K, BNB Up 15%, TRX Soars 70%, RSR Rockets 121%

Published

5 hours ago

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December 4, 2024

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The crypto prices remain bullish today, with Bitcoin (BTC) consolidating in the $93K to $96K range. Among altcoins, Binance Coin (BNB) surged 15%, reaching a new all-time high. Tron (TRX) jumped 70%, securing its position in the top 10 cryptocurrencies by market valuation. Reserve Rights (RSR) became the day’s top gainer with an impressive 121% rally.

The global crypto market cap rose by approximately 1%, now at $3.54 trillion. Trading volume also saw a boost, climbing to $292 billion. Let’s dive deeper into the top cryptocurrencies by market capitalization and their price movements today, December 4.

Crypto Prices Today: BTC at $95K, ETH, SOL Gain, XRP Drops by 6%

Bitcoin (BTC) is inching closer to $96,000, continuing to trade within a consolidated range for over two weeks. Binance Coin surged to a new all-time high and is now trading at $750, reflecting strong market interest. Meanwhile, Tron (TRX) made a significant leap and has entered the top 10 cryptocurrencies by market capitalization.

Bitcoin Price Today

Bitcoin (BTC) price trades at $95,900, with a 24-hour range between $93,629 and $96,669. Its market cap reached $1.9 trillion. The trading volume in the last 24 hours stood at $70 billion. Bitcoin’s market dominance dropped by 0.3%, falling to 54.11%.

According to sosovalue $17 million in outflows from a small BTC ETF on Tuesday. Ark & 21 Shares sold $93 million worth of BTC. However, Fidelity recorded a $52 million inflow. BlackRock’s ETF data remains awaited, keeping investors curious.

Meanwhile, Bitcoin mining firm Foundry cut its workforce to just 80–90 employees. The firm aims to streamline its operations.

Ethereum Price Today

Ethereum (ETH) price trades at $3,667, reflecting a 1% increase over the past 24 hours. Its 24-hour low and high are $3,504 and $3,708. The cryptocurrency has a market cap of $441 billion and a 24-hour trading volume of $40 billion. Ethereum’s market dominance currently stands at 12.56%.

sosvalue reported ETH ETFs saw an inflow of $67 million, with Fidelity contributing $73 million. BlackRock’s data remains awaited, leaving analysts eager for updates.

Meanwhile, Ethereum co-founder Vitalik Buterin emphasized the need for enhanced security and privacy in Web3 wallets. He urged wallets to integrate privacy features directly, reducing reliance on specialized privacy wallets.

XRP Price Today

XRP is trading at $2.55, showing a 6% drop in the past 24 hours. Its 24-hour low and high are $2.36 and $2.86. XRP’s market cap stands at $145 billion, with $42 billion in trading volume. It is currently ranked 3rd by market cap.

In other news, Ripple lead attorney in the lawsuit, Jorge Tenreiro, has joined the US SEC as Chief Litigation Counsel. This move raises concerns over stricter crypto oversight, especially due to his role in the XRP case.

Solana Price Today

Solana (SOL) price is trading at $238, reflecting a 5% gain in the past 24 hours. Its 24-hour low and high are $216 and $240. The cryptocurrency’s market capitalization stands at $113 billion, with $8 billion in trading volume. Solana ranks 5th among cryptocurrencies by market cap.

In a significant development, Grayscale Investments has applied for a Solana ETF with the US SEC. This move highlights the growing institutional interest in Solana’s ecosystem.

Meme Crypto Prices Today

Meme coins are showing a mixed reaction today. Dogecoin (DOGE) price was down by 2%, trading at $0.41, with a 24-hour high of $0.42. On the other hand, Shiba Inu (SHIB) was up by 3%, trading at $0.00003015.

Other top meme coins are also showing mixed movements. PEPE was up by 1%, and WIF gained 4%, while Bonk was down by 1%. The meme coin market continues to remain volatile, with varied performances across different tokens.

Top Crypto Gainer Prices Today

Reserve Rights

Reserve Rights (RSR) price saw a massive 121% jump in the past 24 hours, trading at $0.026. Its 24-hour low and high were $0.01231 and $0.02669. This impressive rally has placed RSR among the top gainers today.

The surge in RSR price comes amid growing speculation about the potential appointment of Paul Atkins as the next U.S. SEC chair under President Donald Trump. This news has sparked increased interest in the project.

Tron

Tron (TRX) price was the second biggest gainer in the last 24 hours, soaring by 70% and trading at $0.38. It has now entered the top 10 cryptocurrencies by market cap. Its 24-hour low and high were $0.2245 and $0.4406, respectively. TRON’s market cap stands at $32 billion, with a trading volume of $12 billion. The strong price movement highlights growing investor interest and solidifies TRON’s position in the top-tier cryptocurrencies.

Top Crypto Loser Prices Today

Kaia

Kaia (KAIA) price was the worst performer in the last 24 hours, with a 17% decrease in price. Crypto prices today show it is trading at $0.34, with a low of $0.26 and a high of $0.39.

Flare Network

Flare Network (FLR) price dropped by 10% and is now trading at $0.034. Its 24-hour low and high are $0.03199 and $0.0382.

The hourly chart looks bullish for the crypto market, with major altcoins and Bitcoin up by 1 to 2%. Overall, the crypto prices today show strong bullish signs, which could be a positive signal for investors looking for growth in the coming days.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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