Ethereum (ETH) is currently trading at $2,676, with a 3.10% increase in the past 24 hours. Trading volume has surged by 46.85% to reach $15 billion. In the institutional space, US spot ETH ETFs have seen a net inflow of $2.87 million, bringing total assets to $6.92 billion. The Grayscale Ethereum Mini Trust was the only ETF to experience this inflow. Ethereum whales have been transferring assets, with 71,549 ETH changing hands and a deposit of 8,510 ETH worth $21.9 million from a Genesis Trading bankruptcy wallet to centralized exchanges. The market capitalization is now at $322 billion, a 3.225% increase. ETH is showing signs of a steady recovery and may soon break the $2,700 barrier. However, Ethereum's trajectory is closely tied to Bitcoin (BTC). BTC is currently trading at $64,142, and movements in BTC are likely to impact ETH and other cryptocurrencies. Market sentiment reflects uncertainty, with 24% feeling bullish and 76% leaning bearish. Technical indicators suggest an overbought territory for ETH, with a potential bearish crossover in moving averages.
- Content Editor ( thenewscrypto.com )
- 2024-09-23
Is Ethereum Poised to Break Through the $2.7K Barrier?