Ethereum Price to Rally Toward $5,232 as Open Interest Hits ATH

Quick Summary:

The notable decline of Ethereum on CEXes is majorly attributed to the rising demand from the U.S.spot Ether ETF issuers.

Led by BlackRock’s ETHA, and Fidelity’s FETH, the US spot Ether ETF issuers have attracted more than $2.64 billion in cumulative total net inflow since inception, thus a total assets under management of about $12.01 billion.

As a result, the large-cap altcoin, with a total valuation of about $406 billion and a 24-hour average trading volume of around $23 billion, rebounded from a crucial support level.

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Article Details

Author / Journalist: Elena R

Category: Crypto

Markets: United States

Topics: News Ethereum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-27 @ 06:02:46 (1 days ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 473 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 24686705

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