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 <p class="is-style-lead">The crypto <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> witnessed decline after false news about a Bitcoin (BTC) exchange-traded funds (ETF), but despite bearish sentiment in the <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, Ethereum (ETH) posted gains.</p> 
 <p>ETH gained 3% in the past 24 hours and is trading at $2,380 at the time of writing. The second-largest cryptocurrency even got close to the $2,400 mark as the hacked X account of the U.S. Securities and Exchange Commission announced the approval of a spot BTC ETF.</p> 
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   <img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/01/10/ef4841dc960909f46132be4785afd407.webp" alt="Ethereum's price surges despite the market-wide chaos - 1"> 
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   ETH <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, whale activity, open interest and RSI – Jan. 10 | Source: Santiment
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 <p>Ethereum’s <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap is holding strong above $286 billion with a daily trading volume of $17.1 billion.</p> 
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 <p>According to data provided by Santiment, whale transactions consisting of at least $100,000 worth of ETH <a rel="dofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>d by 7.9% over the past day — rising from 5,790 to 6,242 unique transactions in 24 hours.&nbsp;</p> 
 <p>On the other hand, Ethereum’s Relative Strength Index (RSI) is currently hovering around 59, per Santiment. The indicator suggests that ETH is still in a good position for a further potential rally.&nbsp;</p> 
 <p>While the increased whale activity suggests high price volatility, Ethereum could still hold its current price point if the RSI stays below the 60 mark.&nbsp;</p> 
 <p>Following the <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="dofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a>, according to the <a rel="dofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> intelligence platform, Ethereum’s total open interest (OI) increased by 4% over the past 24 hours — rising from $3.75 billion to $3.90 billion.&nbsp;</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-s-price-surges-despite-the-market-wide-chaos-tbt76110.html">https://thebittimes.com/ethereum-s-price-surges-despite-the-market-wide-chaos-tbt76110.html</a></p>

Ethereum’s price surges despite the market-wide chaos

TheBitTimes

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