Ethereum Price Prediction After ETH ETFs Led By BlackRock Secured $49M Inflows As Buy The Dip Traders Pounced During Market Crash
The Ethereum price rose 2% in the last 24 hours to trade at $2,500 as of 03:42 a.m. EST on trading volume that dropped 39% to $24 billion. This comes as U.S.-listed spot ether exchange-traded funds (ETFs) saw net inflows of nearly $49 million on Monday despite ETH dropping 20%, indicating strong demand for the token from institutional investors. ETH plunged on Monday in its biggest drop since 2021 after crypto trading firm Jump Crypto moved a massive amount of ETH to centralized exchanges, seen as preparation for a potential sell-off. According to data by SoSoValue , ETH ETFs traded over $715 million, the highest since July 30. BlackRock had the largest inflows of $47 million, followed by Fidelity and VanEck at $16 million each. After the significant dip on Monday, professional investors bought the dip. Can the recent buying push the token to a sustained bullish rally? Ethereum Price Set For A Breakout The drop on Monday drove the price of Ethereum to the $2,200 support level, w