Ethereum (ETH) took the reins: Now there is institutional demand!

Ethereum, the pioneer of altcoins, gained strength with spot ETH ETFs traded in the US.

The US presidential elections positively affected the crypto market. Donald Trump's becoming the 47th president of the US ignited the fuse of the great bull run. While the $BTC price reached $ 90,000, altcoins were seen approaching their previous peak levels.

In these days when the bull market is intensifying, all eyes are on Ethereum's performance. $ETH has increased by 7 percent in the last 24 hours.

Spot ETH ETFs traded in the US recorded a net inflow of $ 295 million the other day. ETH ETFs, which witnessed the largest inflow since the first day of trading, contributed to the potential rally gaining strength.

Crypto analysts predict that Ethereum (ETH) will continue its rise.

Crypto analyst Yoddha shared a chart analysis with his followers on November 8. In the analysis in question, it was stated that the ETH price would turn $ 2,200 into a support point. The analysis predicted that ETH, which completed its correction, could rise to $ 15,000.

Yoddha, who said that the BTC price would reach $ 100,000, claimed that altcoins would experience a major rally in the last phase of the bull cycle.

ETH needs to increase by nearly 30 percent to reach its all-time high. If ETH breaks a record, the money flow may shift to layer-2 projects. Major altcoins such as Arbitrum, Aptos and Optimism are known as Ethereum scaling (layer-2) projects.

According to data obtained from CoinGecko, $ETH recorded a trading volume of $ 68 million in the last 24 hours.

Tron founder Justin Sun sold 19,000 ETH despite the positive atmosphere in the markets. Sun earned $69.36 million from the transaction.

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