Ethereum Price Exceeds $3200 for the First Time Since August 1, 2024

HappyCoinNews2024/11/11 16:44

By:HappyCoinNews

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November 10 cryptocurrency rate Ethereum (ETH) surpassed the $3200 mark for the first time since August 1, 2024, reaching $3220.

Price Ethereum surged on November 6 after Donald Trump's landslide victory in the US election was announced. The upward movement paused several times, but on Sunday the pump resumed, and the price of ETH struck barrier of $3200, increasing by 33%.

Ethereum Price Exceeds $3200 for the First Time Since August 1, 2024 image 0

Course pump Ethereum after Trump's win

During the bull market, US issuers Ethereum - ETF recorded a significant inflow of investments. From November 6 to 8, the level of capitalization of derivatives increased by $217,9 million and reached $7,96 billion. The value of issued ETH coins is $382,1 billion, thus, the creators of the funds already own 2% of the assets.

In addition, Leon Weidmann, head of research firm Onchain Insights noticed increasing the amount of staking Ethereum According to his data, by November 7, the number of blocked assets increased to 34,8 million, which is 28,9% of the issued ETH.

Considering the above facts, it can be assumed that Ethereum will continue to rise in price, especially if ETH- ETF will be in demand among investors and staking cryptocurrencies will remain relevant. From the beginning of 2024 Ethereum increased in price by only 39%, and Bitcoin – 87%. It is obvious that if the altcoin season starts, ETH will rise in price significantly and reduce its gap with BTC.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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