ETH (Ethereum) fell 2.68% in the last 24 hours.

Gate News Bot news, on October 30, according to CoinMarketCap, as of the time of writing, ETH (Ethereum) is currently priced at $3920.37, with a fall of 2.68% in the last 24 hours, reaching a maximum of $4250.67 and a minimum of $3843.08. The 24-hour volume has reached $39.744 billion. The current market capitalization is approximately $473.182 billion, a decrease of $13.035 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It is home to the largest developer community in the cryptocurrency ecosystem, supporting the development of applications using languages such as JavaScript and Python, or learning smart contract languages like Solidity or Vyper. Ethereum's financial system remains open and fair, providing opportunities for billions of people who cannot open bank accounts or freely use funds.

Important news about ETH recently:

1️⃣ Institutional investors continue to pay attention

The net outflow of the Ethereum spot ETF in the United States is $81.4 million, indicating that institutional investors are still adjusting their positions. At the same time, some large investors are actively positioning in ETH, such as a certain whale who set a limit buy order worth $57 million at the $3,800 price level, showing confidence in the future trend of ETH.

2️⃣ The ecosystem is developing rapidly

The Ethereum ecosystem continues to grow, with Ether.fi's annualized revenue nearing $100 million, and monthly revenue in October exceeding $8 million, a 180% increase since the beginning of the year. This reflects the strong demand for applications and services on the Ethereum network, providing robust support for the value of ETH.

3️⃣ Large institutions are preparing to enter the Ethereum space.

The developer of the MetaMask wallet, Consensys, plans to go public in the United States and has hired JPMorgan and Goldman Sachs as the lead underwriters for the IPO. This move could bring more mainstream attention and institutional funds to Ethereum, helping to enhance its market influence.

From a technical perspective, ETH is currently consolidating in the range of $3800 to $4000. Some analysts believe that ETH may maintain a consolidation trend before the end of November, with the possibility of accelerating upward in December. The overall selling pressure in the market continues to ease, and the net price difference on trading platforms is positive, indicating a trend of net capital inflow.

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