**Ethereum Smashes Through $4,000 Barrier in Election-Fueled Rally**
Ethereum (ETH), the second-largest cryptocurrency, has staged a dramatic comeback, surging past the crucial $4,000 resistance level with a resounding 5.4% leap in just 24 hours. Currently trading around $4,048, ETH’s price action is electrifying the crypto world.
This remarkable rally comes on the heels of a renewed frenzy for spot Ethereum ETFs (exchange-traded funds). Thursday witnessed an unprecedented flood of investments into these ETFs, shattering previous records with a staggering $428.5 million in net inflows. This eclipses the former record of $332.9 million set just a week earlier, signaling a major shift in investor sentiment.
Interestingly, ETH’s resurgence seems to be linked to the recent US presidential election. While the cryptocurrency hovered near $2,500 in the anxious days leading up to the results, it, along with Bitcoin and other altcoins, embarked on a sharp upward trajectory once the outcome became clear. After weeks of sideways trading between $3,000 and $3,400, ETH finally broke free last week, posting a 14% gain. The past 24 hours have been particularly explosive, with ETH briefly touching $4,100 before settling just below the mark.
Fueling this impressive climb is the explosive interest in spot Ethereum ETFs. After playing second fiddle to Bitcoin ETFs for months, Ethereum-focused funds are now stealing the spotlight. BlackRock’s ETHA led the charge, raking in a massive $292.7 million in inflows, closely followed by Fidelity’s FETH with $113.6 million. This surge clearly demonstrates a growing appetite for regulated Ethereum investment products. The crypto market is buzzing with anticipation – is this the beginning of a new bull run for Ethereum?
<p>The post ETH Smashes $4K Barrier on ETF Flood first appeared on CoinBuzzFeed.</p>
