Ethereum (ETH), the second-largest cryptocurrency, has reached $4,000.
On Dec. 5, Bitcoin (BTC), the largest cryptocurrency by market cap, surpassed the $100,000 level for the first time in history.
Ethereum's market cap has reached $481 billion, reflecting growth of 1.86% over the past 24 hours. The trading volume is $54 billion.
Dan BurginAs reported by U.Today, Ethereum has recovered above the critical resistance level of $3,500, where it mounts one of its strongest sell walls. Additionally, ETH shows a bullish pattern, as indicated by the 50-day EMA crossing above the 200-day EMA.
The cumulative short liquidations jumped sharply at $4,000, indicating a significant price milestone. These liquidations may serve as fuel if Ethereum keeps rising, causing the price to soar above $4,000.
Ethereum ETFs attract institutional investors
On Nov. 29, Ethereum ETFs outperformed Bitcoin ETFs in net flows for the first time ever.
According to data provided by Farside, Ethereum ETFs have shown $332 million in net inflows on Nov. 29.
Bitcoin ETFs, on the other hand, have shown net inflows of only $320 million on the same date.
Moreover, Ethereum ETFs showed $132.6 million in net inflows on Dec. 3.
This marks the third consecutive day that Ethereum ETFs have seen inflows, suggesting renewed institutional investor interest in the cryptocurrency.
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Godfrey Benjamin
Vladislav Sopov