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Coin Edition 2024-11-30 19:30:00

Five-Month High: ETH Gains as Derivatives Market and ETFs Lead Rally

Five-Month High: ETH Gains as Derivatives Market and ETFs Lead Rally

Ethereum surges to a five-month high, surpassing $3,700, with a 40% gain in the past month. Investor optimism grows as SEC Chair Gary Gensler prepares to depart. ETH ETFs saw $90 million in inflows on Friday, fueling bullish sentiment. Ethereum (ETH) is now trading above $3,700, a five-month high, as its price has climbed by 40% over the past four weeks. This strong performance has analysts predicting ETH will soon break $4,000. This upward trend is largely driven by growing investor optimism following the announcement that SEC Chair Gary Gensler will step down in a few weeks. Many believe this leadership change could usher in a more crypto-friendly regulatory environment, further fueling Ethereum’s rally. Ethereum Key Trading Metrics Ethereum’s price surge in recent weeks has attracted significant investor attention. As of now, Ethereum’s market capitalization is valued at $445 billion, securing its position as the second-largest cryptocurrency, just behind Bitcoin. Looking at price movement, Ethereum’s 40% monthly gain outperformed Bitcoin’s 34% gains , signaling strong momentum in favor of ETH. This sentiment shift is also evident in the trad… The post Five-Month High: ETH Gains as Derivatives Market and ETFs Lead Rally appeared first on Coin Edition .

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