Ethereum

Franklin

Rally

Strong

Ethereum (ETH) is making headlines once again, surging by 4% and outperforming the broader CoinDesk 20 (CD20) <a href="https://www.coindesk.com/indices/cd20/" rel="noopener noreferrer nofollow">index</a>. This rally comes amid growing interest in <a href="https://thecoinrise.com/bitcoin-etfs-record-192m-inflows-while-ether-etfs-face-minor-outflows/" rel="noopener noreferrer nofollow">Ethereum exchange-traded funds (ETFs) after a tough period</a>.
<h2 id="span-style-font-weight-400-ethereum-etfs-attract-strong-inflows-span">Ethereum ETFs Attract Strong Inflows</h2>
According to <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">data</a> from SoSoValue, Monday saw a significant net inflow into the U.S.-listed spot ether ETFs, totaling $4.93 million. This inflow reflects increasing institutional interest in Ethereum, which has been gaining traction as a key asset in the digital currency space. Notably, Fidelity’s FETH led the pack with an impressive $3.98 million in inflows.
Other Ethereum ETFs also posted positive numbers, with Franklin Templeton’s EZET attracting $1 million and Bitwise’s ETHW pulling in $2.86 million. However, not all funds experienced gains. VanEck’s ETHV saw an outflow of $2.92 million, marking a rare dip in what has otherwise been a strong period for Ethereum ETFs.
<h3 id="span-style-font-weight-400-bitcoin-etfs-performance-span">Bitcoin ETFs Performance</h3>
In contrast, Bitcoin ETFs posted a collective daily inflow of $27.87 million, underscoring the continued dominance of Bitcoin in the market. However, some Bitcoin-focused funds, such as Grayscale’s GBTC and Bitwise’s BITB, experienced outflows of $11.7 million and $17 million, respectively.&nbsp;
<h2 id="span-style-font-weight-400-dex-tokens-on-the-rise-span">DEX Tokens on the Rise</h2>
The positive momentum in Ethereum’s price was bolstered by gains across several major DEX tokens. Market data shows that Uniswap’s UNI climbed 3.8%, DYDX surged 5.5%, and Gnosis’s GNO rose by 5.3%. These tokens are integral to the DeFi ecosystem, where Ethereum serves as the primary blockchain.
DeFi Llama data reveals that Ethereum fees reached $40.46 million in the first half of August, while Uniswap fees hit $23.64 million during the same period. This suggests that Ethereum is on track to surpass July’s $47.4 million in fees, with the potential to challenge June’s $54 million in total fees. The consistent fee generation on the Ethereum network underscores the sustained demand for its services, even amid market volatility.
<a href="https://thecoinrise.com/cryptocurrency-whales-are-accumulating-these-cryptos-following-the-ethereum-etf-approval/" rel="noopener noreferrer nofollow">Adding to the bullish sentiment, an Ether whale</a> who was liquidated for 2,890 wstETH ($8.06 million) during the market crash on August 5 has re-entered the market with a significant purchase. According to a Lookonchain X <a href="https://x.com/lookonchain/status/1823260722085937654" rel="noopener noreferrer nofollow">post</a>, this whale acquired 4,459 ETH, worth $11.8 million since August 11.
The post <a href="https://thecoinrise.com/ether-outperforms-as-ethereum-etfs-see-inflows-and-dex-tokens-rally/" rel="noopener noreferrer nofollow">Ether Outperforms as Ethereum ETFs See Inflows and DEX Tokens Rally</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Ether Outperforms as Ethereum ETFs See Inflows and DEX Tokens Rally

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