ETH (Ethereum) has risen 1.74% in the last 24 hours.

Gate News Bot news, on September 30, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $4191.75, with a rise of 1.74% in the last 24 hours, reaching a high of $4238.67 and a low of $3829.01. The 24-hour volume has reached $38.54 billion. The current market capitalization is approximately $505.957 billion, an increase of $8.635 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It is home to the largest and most active developer ecosystem in Web3. Ethereum provides the infrastructure for decentralized finance, social networks, gaming, and other applications, enabling users to interact without the need for trusted intermediaries. Its native cryptocurrency ETH can not only be used as a means of value storage and exchange but also for paying network transaction fees and deploying smart contracts.

Important recent news about ETH:

1️⃣ Significant increase in daily net inflows for US Ethereum spot ETF On September 29, the US Ethereum spot ETF recorded its highest single-day net inflow since August 15, reaching $546.9 million, ending a previous streak of five consecutive days of net outflows. Among them, BlackRock's ETHA and Fidelity's FETH saw net inflows of $154.2 million and $202.2 million respectively. This phenomenon indicates that institutional investors' confidence in ETH is recovering, which may provide support for ETH prices.

2️⃣ Large institutions continue to increase their holdings of ETH The Bitcoin mining immersive technology company currently holds over 2.65 million ETH tokens, with a total holding of cryptocurrencies and cash reaching $11.6 billion. Additionally, the NASDAQ-listed company FG NEXUS announced that its Ethereum holdings have increased to 50,770 tokens, with a total value of approximately $207 million, and an average purchase price of about $3,860 per ETH. The continued accumulation by large institutions demonstrates optimism about the long-term value of ETH.

3️⃣ The activity level of the ETH network has increased Morpho has released Vaults V2 and launched on Ethereum, providing new options for future asset management. At the same time, the Ethereum network's Gas fee has risen to 15 gwei, possibly due to the "Falcon Finance airdrop event". The increase in network activity reflects the ongoing development of the Ethereum ecosystem and the rise in user engagement.

From a technical perspective, the price of ETH has returned above the cost line of some large holders, with Bitmine's average cost being around $4,026. Additionally, ETH recently broke through the 4200 USDT level, showing some upward momentum. However, there are also short-selling forces in the market, such as a large trader shorting 8,000 ETH with 20x leverage, currently facing an unrealized loss of $5.19 million, which may exert some pressure on the short-term price trend.

This message is not investment advice; investors should be aware of market volatility risks.