U.Today - Ethereum (ETH), the second-largest cryptocurrency, has reached $4,000.
On Dec. 5, Bitcoin (BTC), the largest cryptocurrency by market cap, surpassed the $100,000 level for the first time in history.
Ethereum's market cap has reached $481 billion, reflecting growth of 1.86% over the past 24 hours. The trading volume is $54 billion.
As reported by U.Today, Ethereum has recovered above the critical resistance level of $3,500, where it mounts one of its strongest sell walls. Additionally, ETH shows a bullish pattern, as indicated by the 50-day EMA crossing above the 200-day EMA.
The cumulative short liquidations jumped sharply at $4,000, indicating a significant price milestone. These liquidations may serve as fuel if Ethereum keeps rising, causing the price to soar above $4,000.
Ethereum ETFs attract institutional investors
On Nov. 29, Ethereum ETFs outperformed Bitcoin ETFs in net flows for the first time ever.According to data provided by Farside, Ethereum ETFs have shown $332 million in net inflows on Nov. 29.
Bitcoin ETFs, on the other hand, have shown net inflows of only $320 million on the same date.
Moreover, Ethereum ETFs showed $132.6 million in net inflows on Dec. 3.
This marks the third consecutive day that Ethereum ETFs have seen inflows, suggesting renewed institutional investor interest in the cryptocurrency.