CandleFocus Ethereum hits 4K as weekly ETF inflows exceed $1 billion
2024-12-06
Author: Content Editor
The price of Ethereum has surged past $4,000, reaching a level not seen since March 2024. This rally, which represents a 65% increase in Ethereum's price over the past month, has been driven by strong demand for Ethereum ETFs. Institutional interest in Ethereum has been a key driver, with Ethereum ETFs seeing record daily inflows of $428 million. In the past week alone, Ethereum ETFs have accumulated over $1 billion in inflows, with BlackRock contributing $788 million. This surge in investment has propelled Ethereum's market value to over $485 billion. The price movement has also triggered significant market activity, with millions of dollars in liquidations. This surge in price is attributed to optimism in the market following Donald Trump's recent appointments of pro-crypto advocates to key positions.
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