Ethereum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/evolving-market-dynamics-encourage-ethereum-growth/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Evolving Market Dynamics Encourage Ethereum Growth</a><br></p>
<p style="text-align: justify">A positive trend for Ethereum is becoming evident. After five consecutive days of net inflows, Ethereum (ETH) is showing cumulative net inflows for the first time since the launch of exchange-traded funds (ETFs) in July.</p>
<h2 id="spot-eth-etf">Spot ETH ETF</h2>
<p style="text-align: justify">On Tuesday and Monday, spot ETH ETFs recorded their highest daily net inflows, reaching $135.9 million and $295.5 million, respectively. According to SoSoValue data, these inflows contributed to cumulative net inflows remaining at $94.6 million.</p>
<p style="text-align: justify">This shift in ETH inflows occurred before ETF provider Bitwise announced the acquisition of Ethereum staking firm Attestant early Wednesday. This step is considered significant for the <a href="https://en.coin-turk.com/the-negative-approach-of-us-officials-towards-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> asset manager as it aims to introduce a new ETH ETF that includes staking rewards. With Trump potentially winning the elections, the <a href="https://en.coin-turk.com/whitebit-european-crypto-exchange-expands-operations-into-nigeria/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a> might alter its rigid stance on this issue. ETFs with staking rewards could attract much more interest from institutional players.</p>
<p style="text-align: justify">Currently, nine spot ETH ETFs do not include staking rewards. Staking refers to earning returns in ETH as a reward for securing the Ethereum network.</p>
<h2 id="grayscale-s-situation">Grayscale’s Situation</h2>
<p style="text-align: justify">In contrast to the consistent inflows for spot Bitcoin ETFs since January, spot ether ETFs have consistently experienced more outflows. As of September 23, cumulative net inflows for Grayscale’s ETHE dropped to -$686.7 million due to outflows in USD.</p>
<blockquote>
 <p>“After the recent elections, we see market gains extending beyond BTC to ETH, sub-L1s, and DeFi. Broader adoption by institutions, coupled with increased integration of traditional financial infrastructures with blockchain, raises expectations for more favorable crypto regulations.”<br>– Jim Hwang, COO of Firinne Capital</p>
</blockquote>
<h2 id="eth-price-growth">ETH Price Growth</h2>
<p style="text-align: justify">The ETH price increased by 2.4% in the last 24 hours and by 25.2% over the past week, trading at $3,270. This marks the highest level seen in over three months for the second-largest <a href="https://en.coin-turk.com/surprise-decision-crypto-worlds-prominent-figures-imposed-with-9-year-trading-ban/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a>, with a market cap of approximately $400 billion.</p>
<p style="text-align: justify">Factors behind the positive shift for ETH include fears of missing out (FOMO) and the election of crypto-friendly administration and legislative bodies following the U.S. elections. This situation has elevated market expectations, increasing interest in Ethereum.</p>
<h2 id="regulatory-expectations">Regulatory Expectations</h2>
<p style="text-align: justify">Hwang noted that the likelihood of regulatory expectations in crypto materializing is now high. In this context, new features like staking rewards in ETH ETFs could boost investor interest and support Ethereum’s institutional adoption.</p>
<p style="text-align: justify">These positive developments in Ethereum ETFs once again highlight the impact of market fluctuations on investor behaviors. Particularly, the expectations of institutional investors and improvements in regulations can shape Ethereum’s future performance.</p>
<p>The post <a href="https://en.coin-turk.com/evolving-market-dynamics-encourage-ethereum-growth/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Evolving Market Dynamics Encourage Ethereum Growth</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Evolving Market Dynamics Encourage Ethereum Growth

Table of Contents

COINTURK NEWS

Other articles published on Nov 13, 2024

Chainlink Price Prediction: Is LINK Price Set to Rise?

Investors Beware: Dogecoin Breakout Could Be Imminent!

VanEck Launches SUI ETN In EU: Details

XRP Is About to Double Bottom Versus Bitcoin. Here’s the Significance

Donald Trump’s Pro-Crypto Agenda Could Push Bitcoin to $100K Soon, Says Pompliano

Ethereum ETFs Outpace Bitcoin's Early Days with $295M Daily Inflow Record

Join our free newsletter for daily crypto updates!