The alternative cryptocurrency Ethereum reached a new all-time high spot volume of $38 billion, while Bitcoin recorded its third-highest day at $49 billion. Ethereum experienced a significant drop to an intraday low of $2,125 before recovering to $2,879, with a 27% price increase. US-based spot Ethereum ETFs saw record-breaking trading volumes, attracting $83.5 million in inflows, while Bitcoin ETFs had $234.54 million in outflows. A large Ethereum whale made a massive deposit prior to the market crash, leading to speculation that the crash was due to whales shaking out weak hands. The flagship altcoin continues to experience significant volatility, reaching an intraday low of $2,677 before bouncing back to $2,853. Bitcoin is struggling to regain the important $100,000 level, and trade tensions contribute to ongoing uncertainty.



Other News from Today