Ethereum adds $23 billion in a day as ETH explodes to ATH: Here’s path to $10k
Ethereum (ETH) is trading at a new all-time high as the second-ranked cryptocurrency by market cap continues to record a surge in capital inflow that has grown over $20 billion in the past day. Specifically, the asset recorded an inflow of $23.61 billion to its market cap in the past 24 hours, rising from $573.50 billion to $597.11 billion by press time. This growth has also been reflected in price movement, with Ethereum trading at $4,927, nearly 4% higher on the day and up 9% over the past week. ETH one-day market cap chart. Source: CoinMarketCap Why ETH is rallying Several catalysts have driven the rally. For instance, on August 24, entities holding between 1,000 and 10,000 ETH purchased $2.5 billion worth of tokens, the largest single-day inflow since 2018. Indeed, such whale accumulation usually points to a possible bullish sentiment. At the same time, developers confirmed that the Fusaka hard fork will activate between November 5 and ...