Quick overview

Live ETH/USD Chart

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Ethereum has risen 30% this week alone, and short sellers are suffering on Tuesday after the recent surge.

Ethereum, the second-largest cryptocurrency by market capitalization, surpassed $4,600 0% by for the first time since 2021 on Tuesday evening.

ETH has increased by a third in 7 days. Bitcoin is up roughly 6% for the week and has remained relatively stable over the past month.

 

According to CoinGlass data, traders who are betting against Ethereum are facing losses on Tuesday, as over $110 million worth of liquidations have occurred on ETH short positions in the last day. Ethereum accounted for approximately $158 million of all cryptocurrency liquidations, out of $410 million in liquidations across all assets

ETH’s notable ascent has been bolstered by net inflows of billions of dollars into its exchange-traded currencies.
The second-largest cryptocurrency asset set a one-day inflow record on Monday, driven by investments exceeding $1 billion. Since July, it has only experienced three days of net ETF outflows.

Nearly 63 percent of Monday’s inflows came from BlackRock’s iShares Ethereum Trust ETF (ETHA), which led the inflows and almost matched the asset’s previous inflow record of $726 million. This amount exceeds the $170 million in net inflows for Bitcoin on Monday and continues a trend where ETH ETFs have outperformed Bitcoin ETFs over the past month.

Additionally, new treasury companies are actively using Ethereum, as shown by the aggressive acquisition of the cryptocurrency by firms such as BitMine Immersion Technologies and SharpLink Gaming..