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CryptoXTimes > Article > Crypto > Ethereum ETF Inflows Exceed $90M as ETH Nears Record High
CryptoNews

Ethereum ETF Inflows Exceed $90M as ETH Nears Record High

Ethereum ETF inflows, rally signal approach to ATH.

Nayab Fatima
Last updated: November 28, 2024 4:17 pm
Nayab Fatima 6 months ago
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Ethereum ETF Inflows Exceed $90M as ETH Nears Record High

Spot Ethereum ETF inflows handily surpassed the $90 million mark this week with ETH/BTC up 17.8%. According to analysts, the cryptocurrency is creeping closer to its all time high of $4,868.  

While the broader market was up 8.14%, capital moved from Bitcoin into ETH/USD, propelling the pair 11.65% higher to $3,688. According to QCP Capital, Ethereum’s $0.03760 ETH/BTC ratio climb signalled its increasing market strength.  

Bitcoin regained $95,000 on November 27, following in line Personal Consumption Expenditures (PCE) data that suggested monetary policies could be kept stable. Ethereum’s momentum is picking up, but Litecoin has not done so yet, with bullish chart patterns such as a potential golden cross between their 50 day and 200 day Exponential Moving Averages.  

“With BTC dominance breaking down from its high at 61.50%, ETHBTC has held up nicely and is currently at 0.03760, up 17.8% from last week. This brings 0.0400 into focus as the next level to watch.”

Ethereum Poised for Breakout with ETF Inflows and DeFi Surge

Ethereum is on the cusp of a 35.4% move higher to challenge its all-time high according to QCP Capital. Despite trailing Bitcoin and Solana ETH resilience is taking centre stage.  A renewed interest in investor’s is helping ETH decentralized finance (DeFi) ecosystem as it too thrives.

Ethereum-based protocol total value locked (TVL) climbed by $10 billion this week, driven in part by Donald Trump’s win in the U.S. presidential election, according to a DeFiLlama snapshot.  

The inflows for the spot Ethereum ETF are a big one, showing institutional interest in the asset. As a technological and financial asset, ETH has evolved as a catalyst for the strong performance noted by market analysts.  

With its trajectory, risks such as macroeconomic uncertainty and regulatory scrutiny remain, but Blockchain token ETH hints of a positive recovery. Analysts maintain that without keeping current momentum, we are unlikely to break psychological resistance levels to reach new prices.  

Since ETH is starting to advance, the wider cryptocurrency market might look forward to even more growth with rising acceptance and a shift in investor attitudes. 

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TAGGED: Cryptocurrencies, ETF, ETH, Ethereum
Previous Article Vitalik Buterin Donates $1 Million Ethereum Proceeds to Crypto Advocacy Nonprofit Vitalik Buterin Donates $1 Million Ethereum Proceeds to Crypto Advocacy Nonprofit
Next Article Bleap Plans Global Crypto Spending Expansion with $2.3M Bleap Plans Global Crypto Spending Expansion with $2.3M
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