Ethereum, the second-largest cryptocurrency by market value, is delivering its strongest third-quarter performance on record after climbing above the $4,000 mark this week and extending its gains against Bitcoin
Ethereum, the second-largest cryptocurrency by market value, is delivering its strongest third-quarter performance on record after climbing above the $4,000 mark this week and extending its gains against Bitcoin.
Market analysts estimate that more than $1 billion has flowed into Ether-linked exchange-traded funds since July, with products managed by BlackRock attracting the largest share of the new money. The inflows have helped the token erase much of last year’s decline and edge closer to its all-time high of about $4,800.
Fundstrat Global Advisors co-founder Tom Lee said Federal Reserve Chair Jerome Powell’s speech scheduled for Friday could prove decisive for risk assets, arguing that a dovish tone might accelerate momentum in Ether. Lee reiterated a $15,000 year-end price target but acknowledged that policy surprises or a rebound in Bitcoin dominance could temper the rally.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/markets/ethereum-tops-4000-etf-inflows-drive-record-q3-surge-945bc4f7
