BREAKING: Ethereum Price Hits $4,000
12/06/2024 22:05
The second-biggest cryptocurrency has surpassed $4,000 on its way to new ATH
The second-biggest cryptocurrency has surpassed $4,000 on its way to new ATH
Ethereum (ETH), the second-largest cryptocurrency, has reached $4,000 for the first time since 2021.
On Dec. 5, Bitcoin (BTC), the largest cryptocurrency by market cap, has surpassed the $100,000 level for the first time in history.
Ethereum's market cap has reached $481 billion, reflecting growth of 1.86% over the past. The trading volume is $54 billion.
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As reported by U.Today, Ethereum has recovered above the critical resistance level of $3,500, where it mounts one of its strongest sell walls. Additionally, ETH shows a bullish pattern, as indicated by the 50-day EMA crossing above the 200-day EMA.
The cumulative short liquidations jumped sharply at $4,000, indicating a significant price milestone. These liquidations may serve as fuel if Ethereum keeps rising, causing the price to soar above $4,000.
Ethereum ETFs attract institutional investors
On Nov. 29, Ethereum ETFs outperformed Bitcoin ETFs in net flows for the first time ever.
According to data provided by Farside, Ethereum ETFs have shown $332 million in net inflows on Nov. 29.
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Bitcoin ETFs, on the other hand, have shown net inflows of only $320 million on the same date.
Moreover, Ethereum ETFs showed $132.6 million in net inflows on Dec. 3.
This marks the third consecutive day that Ethereum ETFs have seen inflows, suggesting renewed institutional investor interest in the cryptocurrency.
About the author
Dan Burgin
Dan is a news editor and writer with 12 years of experience in finance and emerging technologies, with a strong focus on crypto. Covering a broad spectrum of topics, from fintech startups to AI, he provides an in-depth overview of the current state of the crypto market, along with insights into its potential for future disruption.
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