Ethereum

Read

Billion

Spot

<ul>
 <li>Ethereum ETFs sustained significant investor interest, with trading volumes exceeding $1 billion.</li>
 <li>Despite high trading volumes, Ethereum’s price fell by 1.8%, similar to Bitcoin ETFs’ launch pattern.</li>
 <li>A major market sell-off resulted in a $4.63 million liquidation for one investor, highlighting volatility.</li>
</ul>
<p>On the second day of trading, Ethereum exchange-traded funds (ETFs) continued to draw significant investor interest. The trading volume for the ETFs continued to be impressive after a <a href="https://cryptonewsland.com/ethereum-etfs-reach-1-billion-in-trading/" target="_blank" rel="noopener noreferrer nofollow">remarkable debut</a> with volumes above $1 billion. Analysts had predicted net flows of $3 billion to $5 billion in the first six months, but initial indicators suggest these projections may be low.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: Spot Ethereum ETF trading volume has hit $1 billion for the second day in a row.</p>— Kyle Chassé (@kyle_chasse) <a href="https://twitter.com/kyle_chasse/status/1816200763473014807?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Ethereum saw its price fall despite the high trading volume. Ethereum’s price fell 1.8% on Wednesday, resembling the pattern seen with Bitcoin ETFs launched earlier in the year. The sudden decline in Ethereum’s price has had a major effect on traders, with one investor facing a huge $4.63 million liquidation. This incident occurred amidst a larger market sell-off in which the value of Ethereum fell sharply.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">NEW: SOMEONE GOT LIQUIDATED FOR $4.63M AMIDST <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> DUMP <a href="https://t.co/Q2sEcxxBVI" rel="noopener noreferrer nofollow">pic.twitter.com/Q2sEcxxBVI</a></p>— DEGEN NEWS (@DegenerateNews) <a href="https://twitter.com/DegenerateNews/status/1816284283004449141?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The launch of Ethereum ETFs is a crucial milestone in the cryptocurrency market. These mutual funds provide a more traditional entry point into the cryptocurrency market, making it more accessible to a broader range of investors.&nbsp;</p>
<p>The market reaction to the introduction of <a href="https://ethereum.org/en/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> ETFs has been varied with the price of ETH dropping while the trading volumes increasing. This could be because the market has already priced in the launch, resulting in a ‘buy the rumor, sell the news’ situation. However, some analysts anticipate that following the brief dip, Ethereum may have an uptrend to a <a href="https://cryptonewsland.com/14000-eth-ath-after-etf-launch/" target="_blank" rel="noopener noreferrer nofollow">new all-time high</a>.</p>
<p>The second day of trading for Ethereum ETFs has maintained the interest gained after its debut. Despite a drop in the price of Ethereum, major trading volumes and good long-term optimism suggest these ETFs could play an important role in the mainstream acceptance of cryptocurrencies.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ethereum-etfs-reach-1-billion-in-trading/" rel="noopener noreferrer nofollow">Ethereum ETFs Reach $1 Billion in Trading Volume on First Day, Grayscale Tops Charts</a></li>
 <li><a href="https://cryptonewsland.com/record-trading-volumes-on-day-1-of-spot-btc-etf-launch/" rel="noopener noreferrer nofollow">Record Trading Volumes on Day 1 of Spot BTC ETF Launch</a></li>
 <li><a href="https://cryptonewsland.com/spot-ethereum-etfs-launch-with-over-1-billion-in-trading-volume/" rel="noopener noreferrer nofollow">Spot Ethereum ETFs Launch with Over $1 Billion in Trading Volume</a></li>
 <li><a href="https://cryptonewsland.com/pepe-24-hour-trading-volume-surpasses-2-7-billion/" rel="noopener noreferrer nofollow">PEPE Surpasses $2.7B in 24-Hour Trading Volume: What’s Next?</a></li>
 <li><a href="https://cryptonewsland.com/spot-bitcoin-etfs-hit-10b-in-3-day-trading-volume/" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Hit $10B in 3-Day Trading Volume</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ethereum-etfs-surpass-1-billion-in-trading/" rel="noopener noreferrer nofollow">Ethereum ETFs Surpass $1 Billion in Trading Volume Despite ETH Price Decline On Second Day After Launch</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum ETFs Surpass $1 Billion in Trading Volume Despite ETH Price Decline On Second Day After Launch

Crypto News Land

25 Tem 2024 tarihli diğer yazılar

WazirX Hack Fails to Deter Shiba Inu: Token Burns and Network Activity Defy Expectations

Marathon Digital Invests $100 Million in Bitcoin, Embraces Long-Term HODL Policy

Why is Bitcoin down today? What traders need to know and prepare for

How High Can The XRP Price Go? Here Are Some Interesting Predictions

Deutsche Telekom MMS Expands into the Crypto World

Elixir Drops Mysterious Video - ELX Airdrop Soon?

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!