📢 Ethereum Rises 6% Surpassing US$3,337!
ETH surged 6% this morning (07/17) to a level of US$3,337, driven by institutional demand from spot ETFs.
According to Farside Investors, iShares Ethereum Trust (BlackRock) contributed the largest inflow: US$151.4 million out of a total daily inflow of US$256 million.
📈 The total assets of the ETH ETF are now US$13.5 billion, marking 16 consecutive days of inflows, demonstrating strong institutional interest.
🔥 Arthur Hayes referred to this as the “Ethereum Season” due to the potential resurgence of DeFi & NFTs.
💥 Meanwhile, leveraged position liquidations reached US$310 million, with the majority of longs triggering a short squeeze that pushed ETH prices even higher.
⚠️ Disclaimer: Not Financial Advice. DYOR.
