Ethereum

iEthereum

The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/ethereum-hits-4000-as-etf-inflows-exceed-1-3-billion/" rel="noopener noreferrer nofollow">Ethereum Hits $4,000 as ETF Inflows Exceed $1.3 Billion</a><a href="https://cryptosnewss.com/david-sacks-named-white-house-ai-and-crypto-czar/" rel="noopener noreferrer nofollow"> </a>appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.The price of Ether, the cryptocurrency that powers the <a href="https://cryptosnewss.com/ethereum-nears-4000-amid-renewed-market-optimism/" rel="noopener noreferrer nofollow">Ethereum</a> blockchain, has broken past the $4,000 price level, reclaiming levels not seen since March of this year after the network saw lackluster performance and significant outflows to other networks.The release of the Dencun upgrade in March dramatically lowered fees for Ethereum layer-2 scaling networks, causing Ethereum layer-1 revenues to collapse, which saw demand for the network plunge. According to data from <a href="https://app.artemisanalytics.com/flows" rel="noopener noreferrer nofollow">Artemis</a>, the network saw outflows of $11 billion over the past three months, coupled with inflows of $9.8 billion, leading to $1.2 billion in net outflows.Activity on <a href="https://cryptosnewss.com/category/ethereum-news/" rel="noopener noreferrer nofollow">Ethereum</a> has started growing over the last few months, bringing in renewed demand for the cryptocurrency which, coupled with significant inflows to spot Ether exchange-traded funds (ETFs) traded in the United States, helped the cryptocurrency’s price recover.At the time of writing, Ether is trading at $4,085 after rising over 80% in the last year  from around $2,350. The cryptocurrency’s price rose by 51% in the last month alone amid a wider cryptocurrency market rally.Data from Farside Investors shows that spot Ether ETFs saw significant outflows from mid-November until November 22, when the trend reversed and these funds started seeing slight inflows. On November 29, these surged to $332.9 million, a record that was beaten on December 5 with $428.5 million inflows.In November, as CryptoGlobe reported, inflows to spot Ether ETFs totaled 362,474 ETH tokens as inflows to these funds increased by 4,363% compared to the previous month, according to data from Lookonchain.In total, spot Ether ETFs saw $1.32 billion inflows, showing that demand for the cryptocurrency among investors gaining exposure to it through regulated products has recently grown significantly.The post <a href="https://cryptosnewss.com/ethereum-hits-4000-as-etf-inflows-exceed-1-3-billion/" rel="noopener noreferrer nofollow">Ethereum Hits $4,000 as ETF Inflows Exceed $1.3 Billio</a>n appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Ethereum Hits $4,000 as ETF Inflows Exceed $1.3 Billion

Cryptos Newss

Other articles published on Dec 7, 2024

The Blockchain Bulletin, Dec 7: SEC Rejects Spot Solana's ETF Applications

Can Lightchain AI Challenge Shiba Inu’s (SHIB) Popularity by 2025? Insights Revealed

Qubetics Shines Bright At $0.028 Making It One of the Best Cryptos to Join for Short Term Gains W...

David Sacks’ XRP Ruling Remarks Resurface Following White House Appointment

Bitcoin Price Eyes $120,000 Fueling Demand for Undervalued Altcoin Ready to Explode 35,203% by Q1...

1st Report Of December 2024

Join our free newsletter for daily crypto updates!