Best Crypto To Buy As Ethereum ETF Inflows Return
The post Best Crypto To Buy As Ethereum ETF Inflows Return appeared on BitcoinEthereumNews.com. The Ethereum price rallied on Saturday due to a return of Wall Street money at the end of the week. After a slowdown since the start of September, institutions invested $405 million into Ethereum ETFs on Friday, marking the biggest day since 26 August. As a result, Ethereum gained over 4% on Saturday, and despite a slight cooldown on Sunday, remains up 8.4% this week. As such, its price has easily outperformed Bitcoin, which is up 4.4% in the same period. Experienced investors know that Ethereum’s strength is good news for the wider altcoin sector, with it usually signaling increased risk appetite. As investor risk tolerance grows, money starts to flow into smaller altcoins, often resulting in much larger gains as it takes alot less liquidity requried to move their prices. And so you’re probably wondering what is the best crypto to buy to capitalize on this. Let’s look at what’s driving Ethereum’s bullish trend right now, and where that momentum could go next. Ethereum ETF Flows Start to Snowball Growing excitement about Ether outperforming BTC was abruptly halted at the start of this month as Ethereum ETFs experienced a six-day consecutive outflow streak from August 29 to September 8. Things began to stabilize on 9 September with $44 million in inflows, and then institutions really started to dig in. On 10 September, ETFs saw $171.5 million in inflows, followed by $113.1 million on 11 September, and a local record of $405.5 million on 12 September. Meanwhile, corporate buying pressure on ETH is helping fuel its growth, with Tom Lee’s BitMine purchasing another $200 million worth on Friday, increasing its total holdings to over $9 billion. This combined institutional and corporate demand has established a strong bid under ETH, which could well lead to more substantial price gains in the…
The post Best Crypto To Buy As Ethereum ETF Inflows Return appeared on BitcoinEthereumNews.com.
The Ethereum price rallied on Saturday due to a return of Wall Street money at the end of the week. After a slowdown since the start of September, institutions invested $405 million into Ethereum ETFs on Friday, marking the biggest day since 26 August. As a result, Ethereum gained over 4% on Saturday, and despite a slight cooldown on Sunday, remains up 8.4% this week. As such, its price has easily outperformed Bitcoin, which is up 4.4% in the same period. Experienced investors know that Ethereum’s strength is good news for the wider altcoin sector, with it usually signaling increased risk appetite. As investor risk tolerance grows, money starts to flow into smaller altcoins, often resulting in much larger gains as it takes alot less liquidity requried to move their prices. And so you’re probably wondering what is the best crypto to buy to capitalize on this. Let’s look at what’s driving Ethereum’s bullish trend right now, and where that momentum could go next. Ethereum ETF Flows Start to Snowball Growing excitement about Ether outperforming BTC was abruptly halted at the start of this month as Ethereum ETFs experienced a six-day consecutive outflow streak from August 29 to September 8. Things began to stabilize on 9 September with $44 million in inflows, and then institutions really started to dig in. On 10 September, ETFs saw $171.5 million in inflows, followed by $113.1 million on 11 September, and a local record of $405.5 million on 12 September. Meanwhile, corporate buying pressure on ETH is helping fuel its growth, with Tom Lee’s BitMine purchasing another $200 million worth on Friday, increasing its total holdings to over $9 billion. This combined institutional and corporate demand has established a strong bid under ETH, which could well lead to more substantial price gains in the…
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