According to the latest market data, Ethereum (ETH) is flexing its muscles, rallying 4.40% to reach a spot price of $2,144.
In contrast, XRP is underperforming on a relative basis, logging a more modest 2.48% gain to trade at $1.4.
Meanwhile, Solana (SOL) is leading the major caps with a sharp 4.83% surge up to $90.74.
Robust ETF flows fuel the rally
According to data shared by Wu Blockchain, spot Ethereum ETFs recorded a total net inflow of $72.36 million on March 12.
This capital injection marks the third consecutive day of positive net inflows for Ethereum products.
Interestingly, Ethereum's institutional inflows actually outpaced Bitcoin's on the day.
Spot Bitcoin ETFs saw a total net inflow of $53.86 million. This marks a solid fourth consecutive day of positive net inflows for the flagship cryptocurrency, indicating that traditional finance investors are steadily deploying fresh capital across the entire digital asset sector.
The Ripple-linked cryptocurrency is struggling to stage an impressive rally despite the resilience of XRP ETFs in the US.
Is another Bitcoin breakout imminent?
Despite Bitcoin trading comfortably near the $72,000 mark, on-chain data shows the market may need more time to build more
According to analytics firm Glassnode, a distinct "accumulation cluster" is actively forming within the $62,000 to $72,000 price range.
Investors are clearly buying up the supply, but analysts warn that the intensity of this current accumulation is "modest" when compared to the aggressive buying phases that preceded previous major cycle expansions.
Glassnode notes that buyer conviction is steadily building, but they caution that the underlying foundation for a mid-term breakout remains "thin so far."
Dan Burgin
Vladislav Sopov
