ETH (Ethereum) has pumped 4.77% in the last 24 hours.

Gate News Bot news, on October 15, according to CoinMarketCap, as of the time of writing, ETH (Ethereum) is currently priced at $4185.06, with a rise of 4.77% in the last 24 hours, reaching a high of $4556.22 and a low of $3460.22, with a 24-hour volume of $6.39 billion. The current market capitalization is approximately $505.132 billion, an increase of $23 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It offers users a new way to use the internet, including stablecoins, a fairer financial system, and innovative applications. Ethereum has the strongest ecosystem and is the center of blockchain innovation, with the best projects built on Ethereum. Ethereum also has the largest and most active developer community in Web3, where developers can use JavaScript and Python, or learn smart contract languages like Solidity or Vyper to write their own applications.

Important news about ETH recently:

1️⃣ Institutional demand rise drives ETH price pump

The US Ethereum spot ETF continues to attract significant inflows, with a net inflow of $236.2 million on October 14. Among them, Fidelity's FETH had a net inflow of $154.6 million, indicating strong demand for ETH from institutional investors. This sustained inflow of funds helps support the ETH price and may drive further rise.

2️⃣ Supply pressure intensifies, 40% ETH is in a non-circulating state.

Currently, about 40% of ETH has exited circulation, including 5.9 million ETH accumulated in the digital asset treasury, 6.84 million ETH purchased by the U.S. spot ETF, and 35.7 million ETH in a staked state. This contraction in supply combined with the rise in institutional demand may lead to a significant pump in ETH prices.

3️⃣ Tether increased the supply of 1 billion USDT to inject liquidity into the market.

Tether has issued 1 billion USDT on the Ethereum network, which is part of a total increase of 11 billion USDT over the past month. The large-scale issuance of stablecoins may bring more liquidity to the cryptocurrency market, which is beneficial for driving trading activity and price rise of mainstream cryptocurrencies like ETH.

From a technical perspective, the ETH price has recently shown a trend of oscillating upward, having broken through the key resistance level of 4000 USD. In the short term, it may continue to test the highs around 4500 USD. However, there is still significant volatility in the market, and investors should closely monitor price trends and manage risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.