Ethereum price recovered to around $2,445 on Thursday after briefly slipping below the critical $2,400 support level as tighter monetary policy, ETF outflows and U.S. regulatory uncertainty pressured the crypto market. ETH fell to an intraday low near $2,372 before buyers stepped in, helping the cryptocurrency reclaim $2,400.
JPYC, the issuer of Japan's first licensed yen stablecoin, said on Thursday that it has restored the issuance-reservation function on Ethereum after a temporary shutdown. Meanwhile, the same function on Polygon remains offline.
BlackRock accumulated over $1.57 billion in Ethereum over the past 20 days through its ETHA and ETHB funds. The ETHA fund received approximately $1.27 billion, while ETHB added another $296.5 million without recording a single day of outflows. The asset manager now controls around 3.56 million ETH, valued at approximately $8.69 billion.
Ethereum price is eyeing $2,570 as falling exchange supply adds fuel to its recovery narrative. ETH remains trapped inside a four-hour descending channel, making the next breakout crucial. A sharp move above $2,570 could open the path toward $2,700 and potentially $3,000, while another rejection may extend the consolidation.
The glitch highlights vulnerabilities in stablecoin systems, affecting market stability and liquidity, and underscores the need for robust infrastructure. JPYC halts Ethereum and Polygon issuance reservations after glitch.
Ethereum's Glamsterdam upgrade could significantly enhance network scalability and reduce transaction costs, impacting the broader crypto ecosystem. Ethereum's Glamsterdam upgrade clears rehearsal for October 6 test.
"ETH is looking extremely bullish here," one popular analyst claimed.
Ethereum (ETH) price found support in renewed activity in the derivatives market on September 17, and our machine learning algorithm suggests the upward trajectory is going to remain unchanged throughout the month.
Jin's aggressive trading highlights the volatility and risks in crypto markets, potentially influencing market dynamics and trader strategies. Garrett Jin withdraws 35,001 ETH from Binance to fuel $51M ZEC short on Hyperliquid.
BlackRock's crypto ETF operations highlight the evolving role of digital assets in traditional finance, impacting market liquidity and investor strategies. BlackRock deposits 54,096 ETH and 2,015 BTC to Coinbase Prime in massive ETF-linked transfer.
BlackRock is increasingly positioning itself as one of the largest Ethereum holding firms as recent data shows that it is rapidly expanding its Ethereum holdings.
Two Ethereum whales purchased 5195 ETH worth approximately $12.9 million while ETFs continue to sell.