Ethereum

Dollar

Flow

bullish

<p>&nbsp;Ethereum (also known as Ether) just crossed $4,000 for the second time this year. The first was in March, and now, as big investors have started showing more interest, especially through Ethereum-based exchange-traded funds (ETFs).&nbsp;</p>
<p>Yesterday, Ethereum ETFs brought in $428.5 million, close to Bitcoin ETFs, which got $766 million the same day.&nbsp;</p>
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 <figure class="aligncenter size-large is-resized"><img decoding="async" width="448" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Ethereum-ETF-Flow-US-Dollar-in-Millions-448x484.png" alt="Ethereum ETF Flow (US Dollar in Millions) " class="wp-image-221213" style="width: 100%;height:auto">
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   Ethereum ETF Flow (US Dollar in Millions) | <br>Source: <a href="https://farside.co.uk/eth/#google_vignette" target="_blank" rel="noopener noreferrer nofollow">Farside Investor</a>
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<p>Right now, Etherum is trading at $4,010 with a market cap reaching $483 billion in a single day and a trading volume of $58 billion according to <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>.</p>
<p>Meanwhile, this boost comes after a slow start earlier this year. Ethereum’s network fees dropped sharply after the Dencun upgrade in March 2024 that led to a 99% drop in revenue from its layer-1 network.</p>
<p>But since September, Ethereum’s network fees have started to recover. On December 5, Ethereum generated $10.9 million in fees, a huge increase compared to just $500,000 in August.</p>
<p>The momentum has got some analysts talking, with some believing the crypto could hit $7000. One analyst on X, venturefounder, said “No matter how you look, you cannot ignore this giant cup and handle/consolidation triangle forming for #Ethereum since Nov 2021: Price Target = $7,346”</p>
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 <figure class="aligncenter size-large"><img decoding="async" width="813" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Venturefounders-ETH-Analysis-813x484.png" alt="Venturefounder’s ETH Analysis" class="wp-image-221212">
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   Venturefounder’s ETH Analysis | Source: <a href="https://x.com/venturefounder/status/1864072162442662079" target="_blank" rel="noopener noreferrer nofollow">X</a>
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<p>Right now “Eth” is at the breakout point of cup and handle, and once it breaches out and closes above the $4,000 mark, bulls would definitely try to gain lead in the market and pump price up.<br><br>This shows ethereum traders are bullish and expect to cross the $5,000 mark easily in the current bull cycle and expect further gains over it.&nbsp;</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/12/05/bitcoin-surges-past-100000-creates-history/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Surges Past $100,000! Creates history</a></p>
</blockquote>

Ethereum Crosses $4,000 for Second Time This Year

The Crypto Times

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