Ethereum Dominates As Digital Assets Hit Record Inflows In 2024

Digital assets attracted $270 million in inflows last week, bringing the total for 2024 to a record-breaking $37.3 billion. While Bitcoin ($BTC) experienced $457 million in outflows—likely from profit-taking after its $100,000 milestone—Ethereum ($ETH) emerged as the clear winner, raking in $634 million in inflows. Digital assets pulled in $270M last week, pushing 2024’s total to a record $37.3B. While $BTC saw $457M in outflows (profit-taking after $100K?), $ETH stole the spotlight with $634M in inflows. YTD, ETH inflows hit $2.2B—a clear sentiment shift. pic.twitter.com/xqaDeQ3zT6 — Kyledoops (@kyledoops) December 3, 2024 Year-to-date, Ethereum has seen $2.2 billion in inflows, reflecting a significant shift in investor sentiment. Since the U.S. elections in November, $ETH has surged by 140%, although it remains below its March 2024 all-time high. $ETH is up 140% since November’s U.S. election but still below its March 2024 ATH. Institutional interest is booming, with ETF trading volumes surging 300%. A rising wedge pattern hints at potential volatility, but sustained inflows could push ETH past its ATH, following… pic.twitter.com/nTVgcYPNs9 — Kyledoops (@kyledoops) December 2, 2024 Ethereum Institutional Interest Surges Institutional interest in Ethereum is soaring, with ETF trading volumes climbing by 300%. On December 2, Ethereum spot ETFs recorded $24.23 million in net inflows, marking six consecutive days of positive flows. BlackRock’s ETHA ETF led the pack with a single-day inflow of $55.92 million, while Fidelity’s FETH ETF contributed $19.9 million. Collectively, Ethereum spot ETFs now hold a total net asset value of $11.13 billion, underscoring growing confidence in the asset. Ethereum spot ETF had a total net inflow of $24.2306 million on December 2, and continued to have net inflow for 6 consecutive days. BlackRock ETF ETHA had a single-day net inflow of $55.9183 million, and Fidelity ETF FETH had a single-day net inflow of $19.8999 million. The… pic.twitter.com/u04wDUOUvl — Wu Blockchain (@WuBlockchain) December 3, 2024 Despite the bullish momentum, a rising wedge pattern in Ethereum’s price charts signals potential volatility ahead. However, sustained inflows and heightened institutional interest could drive Ethereum to surpass its all-time high, following in Bitcoin’s bullish footsteps. With the crypto market thriving and Ethereum taking center stage, 2024 continues to be a pivotal year for digital assets, setting new benchmarks in adoption and investment. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: Photo by Traxer on Unsplash // Image Effects by Colorcinch

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