Tag: second-largest

Ethereum (ETH) Price: Holds Above $2,900 As ETF Inflows Reach $96 Million

The post Ethereum (ETH) Price: Holds Above $2,900 As ETF Inflows Reach $96 Million appeared com. TLDR Ethereum price holds above $2,900 after a 2% increase to $2,903 in 24 hours US spot Ethereum ETFs recorded $96. 67 million in net inflows on November 24, with BlackRock contributing $92. 6 million Large whale wallet BitMine added 69, 822 ETH worth over $200 million, now holding 3. 63 million ETH Coinbase Premium Index rose from -0. 12 to -0. 02, showing improved US investor sentiment Federal Reserve rate cut odds jumped from 30% to over 80% for December meeting Ethereum price climbed 2% to reach $2,903 in the last 24 hours. The second-largest cryptocurrency by market cap has maintained its position above the $2,900 level. The broader crypto market increased by 1. 24% during the same period. Bitcoin, Solana, XRP, and Dogecoin also posted small gains. US spot Ethereum ETFs recorded $96. 67 million in net inflows on November 24. BlackRock’s Ethereum ETF accounted for $92. 6 million of this total. This marked the first inflow for BlackRock’s Ethereum ETF in two weeks. The ETF inflows came after an eight-day streak of outflows. Monday’s inflows represented the second consecutive day of positive flows for Ethereum ETF products. The Coinbase Premium Index showed improvement in US investor sentiment. The metric rose from -0. 12 last Thursday to -0. 02 on Monday. While still negative, the increase suggests US investors are pricing ETH higher than a week ago. Whale Activity Increases Large investor BitMine added 69, 822 ETH to its holdings last week. The purchase was valued at over $200 million. BitMine now owns 3. 63 million ETH, representing roughly 3% of Ethereum’s total supply. Whale wallets holding 10, 000 to 100, 000 ETH increased their collective holdings by 440, 000 ETH over the past week. These large holders appeared to be accumulating as prices dropped below their average cost basis. Smaller whale cohorts took a different approach. Wallets holding 1, 000 to 10, 000 ETH distributed.