Connect with us

Altcoin

Ethereum Sees $634M Inflow Sparking Optimism, What’s Next For ETH?

Published

on


Ethereum witnessed $634 million inflows last week, pushing its year-to-date inflows to a record-breaking $2.2 billion. The surge signals rising institutional confidence in ETH, reflecting a dramatic turnaround in sentiment.

Experts point to favorable demand-supply dynamics, bolstered by these inflows and Ethereum’s adoption across blockchains, as key factors driving the renewed optimism around ETH.

Ethereum Inflows Indicate Growing Institutional Confidence

Ethereum has witnessed a significant surge in institutional interest, as evidenced by the recent $634 million inflows into Ethereum investment products. According to CoinShares blog, ETH year-to-date inflows have now reached an impressive $2.2 billion. This dramatic turnaround signals renewed optimism in its long-term growth prospects, fueled by growing adoption and strong demand from institutional investors.

The rising institutional interest is closely tied to the performance of ETH ETFs. In recent weeks, Ethereum-based exchange-traded funds have gained traction, with strong inflows contributing to the demand-supply dynamics that continue to favor ETH. These ETFs have become a key instrument in driving ETH’s institutional adoption, with investors increasingly turning to Ethereum as a part of their digital asset strategy.

This uptick in ETF inflows is part of a broader trend in the digital asset market. Digital asset investment products saw a total of $270 million in inflows last week, while Ethereum’s continued growth indicates that its adoption is outpacing other assets. As institutional investors flock to ETH, the asset continues to solidify its position as a leading digital asset, driven by its role in blockchain technology and Layer 2 scaling solutions.

Global ETF Inflows and Their Broader Impacts

The cryptocurrency market saw $270 million in digital asset inflows last week. Ethereum dominated with $634 million, while Bitcoin recorded outflows of $457 million, marking its first significant outflow since September. Analysts attribute Bitcoin’s decline to profit-taking following its recent rally past the psychological $100,000 level.

XRP also saw notable inflows of $95 million, driven by excitement around a potential U.S. ETF. Recently, WisdomTree has filed an S-1 form for the XRP ETF fund with the US SEC.

On the other hand, the total crypto ETF inflows reached a record $37.3 billion this year worldwide, underscoring growing investor interest. However, crypto ETFs remain a small fraction, only around 5%, of total ETF assets, as noted by Eric Balchunas.

A Closer Look Into ETH Market

At the time of writing, Ethereum (ETH) price trades at $3,615, down 3% in the past 24 hours. Its 24-hour low and high stand at $3,570 and $3,761, respectively. Its market cap is $435 billion, with a 24-hour trading volume of $40 million.

Although Ethereum has underperformed Bitcoin year-to-date, with a 59% gain compared to Bitcoin’s 124%, its fundamentals remain strong. Analysts, including Rekt Capital, believe that if the price can reclaim key levels like $3,650, it could signal a breakout.

Ethereum price chartEthereum price chart
Source: Rekt Capital, X

Additionally, the Ethereum whale activity is also increasing, as highlighted by the prominent crypto market expert Ali Martinez. Recently, Martinez said that with over 280,000 ETH, worth $1 billion, being purchased within just 96 hours.

Ethereum Whale TransactionEthereum Whale Transaction
Source: Ali Martinez, X

Ethereum’s growing ETF inflows, combined with its solid fundamentals, indicate a promising future. With demand-supply dynamics favoring ETH and blockchain activity surging, the asset seems well-positioned to attract further institutional interest.

✓ Share:

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.





Source link

Altcoin

Lorenzo Protocol (BANK) Price Rallies 150% After This Binance Announcement

Published

on


Lorenzo Protocol (BANK) price has defied the broader market’s recent uncertain trend by rallying 150% this Saturday. The institutional-grade asset management platform has stolen the spotlight primarily as a top CEX, Binance, unveiled a new listing for its native token. As a result, traders and investors are extensively eyeing this crypto, speculating whether the pump could sustain amid enhanced market exposure.

Lorenzo Protocol Price Bullish As Binance Futures Adds BANKUSDT Contract

At the time of reporting, BANK price traded at $0.05237, up by a staggering 150% in just a day. The cryptocurrency’s price surged from a bottom of $0.01839 intraday, in sync with Binance’s announcement.

According to an official press release by the crypto exchange on April 18, the platform’s futures trading division is adding the BANK USD-Margined perpetual contract to its stockpile of offerings. The platform’s colossal user base remains poised to enjoy up to 50x leverage while trading the asset. The timeline for this launch was set at 18:30 UTC, the same day.

Further, the top crypto exchange set the capped funding rate at +2.00%/-2.00%. Also, the same perpetual contract will be available for ‘Futures Copy’ trading, offering users enhanced opportunities to make returns.

For context, usual market sentiments about the coin’s future price action have turned highly bullish with the new offering. Traders and investors are expecting a substantial influx of funds into the token as the new listing paves the way for more investor interaction with the asset.

Now, crypto market watchers are thoroughly monitoring the token for further gains, highly optimistic amid an ongoing rally of 150% following the listing announcement. Lorenzo Protocol is an institutional-grade asset management platform that issues yield-bearing tokens backed by diverse underlying strategies.

Besides, it’s worth mentioning that Binance revealed another crypto listing this week, CoinGape reported. The CEX has revealed plans to open trading for Balance (EPT) shortly, garnering further attention among traders and investors.

✓ Share:

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.





Source link

Continue Reading

Altcoin

Is Solana Forming a Death Cross Against Bitcoin?

Published

on


Solana (SOL) price has been under pressure recently, leading to concerns about a potential downtrend against Bitcoin (BTC). On the SOL/BTC price chart are signs that the cryptocurrency could be forming a “death cross,” a pattern that suggests a further decline in price.

This follows a period of weak performance for Solana relative to Bitcoin, sparking discussions on whether the altcoin can recover or continue to underperform.

Will Solana Form a Death Cross Against Bitcoin?

Over the past few months, Solana price has experienced a sharp decline when compared to Bitcoin. As of mid-April 2025, Solana is priced at 0.00158 BTC, down by 23% from earlier in the month. This comes after a significant 54% drop since January, showing a steady loss in value relative to Bitcoin.

The recent drop in Solana’s price has raised concerns among traders and analysts. Moving averages, which track price trends over time, have been narrowing, which is often a precursor to a potential death cross formation.

SOL/USD 7-day chart (source: TradingView)SOL/USD 7-day chart (source: TradingView)
SOL/USD 7-day chart (source: TradingView)

Specifically, the 23-day moving average is approaching the 200-day moving average in the weekly chart, a key level for technical analysts. If it crosses below the 200-day average, it would officially signal a death cross. This could indicate a further decline in Solana’s price against Bitcoin.

Solana’s Recent Performance and Market Trend

Nonetheless, Solana has had some strength, which can be attributed to the recent launch of Solana ETFs in Canada.

At the same time, institutional investors’ attention contributed to the altcoin’s success in surpassing the performance of numerous other cryptocurrencies, including Bitcoin. Solana delivered a 10.5% return within a week, while Bitcoin delivered a 1.8% return in the same time frame.

Nonetheless, the recent excitement about Solana appears to have subsided with the lessened market movements. Analysts like Ali Charts are now analysing whether the recent strength was just a blip in the charts or the first sign of an actual trend reversal to $65.

SOL/BTC Technical Patterns and Support Levels

Based on the current technical perspective, Solana’s price trend against Bitcoin has established the “Falling wedge” chart. This pattern is normally noticed during the consolidation phase, and the break above the upper trend line is usually interpreted as a signal for a bullish move.

The declining moving averages indicate that Solana may continue to decline against Bitcoin and possibly test lower supports despite the SOL/ETH ratio recording its highest weekly close

At present, the price is almost at the apex of the wedge pattern, meaning that it can break soon. If the price surmounts the resistance level at around 0.0018BTC, it will possibly lead to a bullish run and might even regain the value of 0.001895BTC for Sol. However, if the price cannot hold its support at 0.0014 BTC, then it may decrease even lower.

SOL/USD 1-day price chart (Source: TradingView)SOL/USD 1-day price chart (Source: TradingView)
SOL/USD 1-day price chart (Source: TradingView)

Solana’s performance against Bitcoin will be very significant over the next few weeks. The potential death cross and the support and resistance levels on the chart pinpoint that Solana might experience a difficult time moving forward. If the trend persists, the altcoin could potentially drop as low as 0.001 BTC—a price point that, when measured in dollar terms, is below $100.

✓ Share:

Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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.





Source link

Continue Reading

Altcoin

Canary Capital Files For Staked Tron ETF

Published

on


American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.

The Canary Capital Staked Tron ETF

According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.

Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).

This is a breaking news, please check back for updates!!!

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io