Ethereum Price Jumps More Than 10%

Krutika Adani

Boost to Price

Between the 15th and 16th of July, Ethereum's price increased more than 10% due to multiple bullish factors. The trading volume also saw a massive 50% jump to $18.5 billion.

ETF Launch Nears

The primary reason for the bullish up move was the nearing launch of Ethereum ETFs, which are expected this week on 18 July 2024.

Expected ETF Inflows

Ethereum ETFs are expected to attract $5 billion in inflows within the first six months of their launch.

Oversold Markets

The notion of the markets being oversold attracted several investors who saw it as a quick way to make money.

Levels To Watch

As Ethereum gets ready for an ETF, its price may soon approach $4000 if the launch happens within this week. Otherwise, there could be a minor dip to $3200.

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