Ethereum

Momentum

Gains

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ether-gains-momentum-as-market-sentiment-shifts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ether Gains Momentum as Market Sentiment Shifts</a> 
The native token of the Ethereum blockchain, Ether (ETH), fell behind its peers throughout 2024. While Bitcoin and Solana reached new all-time highs during this period, Ether continued to trade around $3,600. Currently, ETH is 26% below its peak in November 2021, and its market dominance has decreased from 20% to 13%.
<h2 id="ethereum-etf-inflows-set-new-records">Ethereum ETF Inflows Set New Records</h2>
Recently, Ether began to show signs of movement. The ETH/BTC ratio experienced a 19% increase, marking its strongest weekly performance in months. This rise is interpreted as an indication of changing sentiment towards Ethereum.
Ether’s recovery coincided with record highs in inflows to spot Ethereum exchange-traded funds (ETFs). In the past three days, spot Ethereum ETFs attracted $133 million, and total assets under management surpassed $10 billion for the first time.
<h2 id="market-trends-shift">Market Trends Shift</h2>
In the last week, Ethereum ETFs alone attracted $90 million, nearly matching the $103 million inflow to Bitcoin ETFs. According to SoSoValue data, monthly spot Ethereum ETF inflows now total $745 million, making November a record month for spot Ether ETFs.
<blockquote>
 “Among smart money, consensus is forming that ETH/BTC has bottomed and will perform well in Q1 2025,” said Alex Krüger.
</blockquote>
Following Krüger’s statement, a shift in market sentiment is observed. Crypto trading firm QCP Capital noted that if Bitcoin continues to resist $100,000, a gradual rotation from BTC to ETH and other altcoins may occur.
Despite the recent rise, Ether remains significantly below its previous values. The ETH/BTC ratio stands at 0.038, well below the 0.08 peak in 2017, necessitating a 130% increase in Ether compared to Bitcoin to reach that level again, which would elevate Ether’s price to approximately $8,300.
<h2 id="what-ether-s-resurgence-means">What Ether’s Resurgence Means</h2>
Ether’s recent increase may present new opportunities for investors. The growing interest in spot Ethereum ETFs supports Ether’s potential to regain market dominance. As ETH’s value rises against BTC, investors believe confidence in the Ethereum ecosystem could improve.
The recovery process of Ethereum is seen as a signal that different dynamics are at play in the <a href="https://en.coin-turk.com/bithumb-lists-new-altcoin-core/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/digital-asset-investment-products-see-107-4-million-outflow-largest-weekly-bitcoin-exodus-since-march/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> market. For investors, Ethereum’s long-term potential and updated ETF strategies could hold significant importance in their crypto portfolios.
Market observers believe that if Ethereum maintains its momentum, it could exhibit more stable growth in the future. Notably, improvements and innovations within the Ethereum network could play a crucial role in increasing the token’s value.
Strengthening Ethereum’s position in the market may require <a href="https://en.coin-turk.com/bitcoin-price-drops-despite-positive-inflation-data/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> investors to develop new strategies. Changes in ETH’s performance can also influence the dynamics of the overall crypto market.
Ethereum’s comeback is viewed as part of a broader search for balance in the crypto market. During this process, investors and analysts will continue to closely monitor Ethereum’s future movements.
Ether’s rise over the past week suggests it is gaining new momentum following a prolonged underperformance. For investors, the prospects of Ethereum are evolving with increased ETF inflows and shifting market sentiment.
The post <a href="https://en.coin-turk.com/ether-gains-momentum-as-market-sentiment-shifts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ether Gains Momentum as Market Sentiment Shifts</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ether Gains Momentum as Market Sentiment Shifts

Table of Contents

COINTURK NEWS

Other articles published on Nov 28, 2024

Turbo and Dogwifhat Buzz, But BTFD Coin Reigns as the Best Meme Coin to Buy Today

LBank Reaches 15 Million Users, A Step Forward in Global Crypto Exchange Leadership

Altcoin Market Heats Up During Bitcoin Rally, Drawing 2021 Crash Comparisons

Trump Explores CFTC Control Over Crypto Regulation

Cardano Shows Signs of Potential Breakout as Market Indicators Align

$127M Celsius Creditor Payout: Are You Eligible?

Join our free newsletter for daily crypto updates!