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ETHEREUM SURGES 18%: FUNDAMENTALS HIGHLIGHTED AFTER MAJOR DROP
#Ethereum #Ether #ETH #EthereumETF
ETH ETFs See Significant Inflows
Inflows: U.S.-listed spot ether (ETH) ETFs saw nearly $49 million in net inflows on Monday despite a 20% price drop, signaling ongoing demand.
Monday's Price Crash
Decline: Ether's price fell 20%, its biggest one-day drop since 2021, triggered by Jump Crypto moving large amounts of ETH to exchanges. The broader crypto market saw over $340 million in ETH futures liquidations.
Investors Buy the Dip
Trading Volume: ETH ETFs traded over $715 million, the highest since July 30. BlackRock’s ETHA led with $47 million in inflows. Grayscale’s ETHE had $46 million in outflows, while its Ethereum Mini Trust saw $7 million in inflows.
Long-term Demand Yet to Appear
Net Outflows: ETH ETFs have recorded $460 million in net outflows since their launch on July 23, contrasting with Bitcoin ETFs, which saw over $1 billion in net inflows in their first 12 days.
Ethereum's Strong Fundamentals
Resilience: Applications on the Ethereum network remained stable despite the price drop. Alice Liu of CoinMarketCap attributed the drop to the Jump Crypto sell-off and noted the strong performance of LSDFi (liquid staking derivatives finance).
DeFi Market Revival
Activity: The recent liquidation revived DeFi market activity on the Ethereum network. Gas fees fell to 10-15 Gwei, making transactions more affordable.
Conclusion
Ethereum's 18% surge reflects investor confidence and strong blockchain fundamentals, offering a positive outlook despite market volatility.
