Ethereum Tops $3,000 on ETF Buying After 15% Three-Day Rally – Crypto News – Crypto News
Connect with us
Ethereum Tops $3,000 on ETF Buying After 15% Three-Day Rally Ethereum Tops $3,000 on ETF Buying After 15% Three-Day Rally

De-fi

Ethereum Tops $3,000 on ETF Buying After 15% Three-Day Rally – Crypto News

Published

1 year ago

on

Ethereum’s ether token climbed above $3,000 in early trading on 11 July, the first time it has crossed the level since February

Ethereum’s ether token climbed above $3,000 in early trading on 11 July, the first time it has crossed the level since February. The move extended a rally that began earlier in the week, when the price reclaimed $2,700, delivering a gain of roughly 15 percent in three days, according to market data compiled by CoinDesk.

Traders attributed the advance to strong inflows into newly launched U.S. spot ether exchange-traded funds, which have accumulated about 129,500 ETH—valued at roughly $383 million at current prices—since listing. Momentum was reinforced by bitcoin’s latest record highs as well as rising demand for tokenization projects and stablecoin activity on the Ethereum network.

While ether remains below its 2021 peak, it is outperforming most major digital assets this week. Market analysts said a decisive hold above $3,000 could open the door to further gains, though they cautioned that macroeconomic conditions and regulatory developments will continue to shape appetite for the world’s second-largest cryptocurrency.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

Related Topics:
Continue Reading

Trending