Crypto News

Ethereum Trading Volume Surges Amid Record Futures Activity And ETF Inflows

Ethereum’s trading volume has seen a significant spike in November, jumping by 85% from $3.84 billion to $7.13 billion mid-month.

This surge comes as a result of increased interest in $ETH, fueled by the launch of Ethereum ETFs and a wave of post-Trump optimism in the market.

Ethereum Futures Open Interest has also reached new heights, climbing to a record $21.35 billion, according to Coinglass. The top exchanges for ETH futures include Binance, Bybit, CME, and OKX, all of which have contributed to this surge in futures activity.

Ethereum ETFs Recorded Net Inflows 

The momentum continued on November 22, when Ethereum spot ETFs saw their first net inflow in six days, with a total of $91.2 million entering the market.

This inflow was significant, especially given the recent period of outflows. BlackRock’s Ethereum ETF, ETHA, alone recorded a net inflow of $99.7 million in a single day, highlighting growing institutional interest in Ethereum.

These movements indicate a rising confidence in Ethereum, with both retail and institutional investors showing strong support. The combination of record futures activity, growing ETF interest, and overall optimism around Ethereum suggests that the network is poised for further growth in the coming months.

With the Ethereum ecosystem rapidly evolving, traders and investors alike are closely watching as Ethereum’s market performance continues to gain momentum, marking a strong recovery and setting the stage for a potentially bullish 2024.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: zoomteam/123RF// Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *

*