On Friday, 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.
This marks a significant milestone for the Ethereum adoption by institutional investors.
The profitability of Ethereum (ETH) has surged to levels not seen since June, with 90.8% of ETH holders now in profit, according to data from IntoTheBlock.
Gamza KhanzadaevThe ETH price reacted with a massive surge, topping the $3,660 level. At press time, the Ethereum price is traded at $3,688, undergoing a minor correction.
Ethereum price prediction
The $3,800 resistance level is crucial for the ETH price. If breached, Ethereum could test $4,000, potentially triggering significant short liquidations that might fuel further gains.
Arman ShirinyanAs Ethereum approaches $4,000, rising volatility increases the likelihood of a substantial price squeeze. While this could propel ETH higher, market reactions to liquidation levels may lead to sharp swings in either direction, making caution essential.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Alex Dovbnya
Vladislav Sopov