There is exciting news in the cryptocurrency market! ๐ Ethereum ETF inflows just surpassed Bitcoin inflows for the first time! ๐ On November 29, ETH ETF inflows reached $332.9 million, while Bitcoin was only $320 million. This is a huge achievement for Ethereum! ๐ช
Ethereumโs open interest also showed impressive numbers, reaching $24.34 billion, which is a new record high. ๐ This shows the increasing demand for Ethereum in the derivatives market. With all these developments, the current price of ETH is at $3,706.08 and could soon reach a new high in 2024! ๐
The decline in Bitcoinโs dominance of almost 7% in the past two weeks is also a positive sign for ETH. ๐ This could indicate that investors are starting to shift to altcoins, and Ethereum is well-positioned to benefit from this shift. However, traders should remain cautious as high open interest could also make ETH vulnerable to liquidation of long positions. โ ๏ธ
So, let's see if ETH can continue this bullish momentum! ๐๐ฅ