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Ethereum’s native token, ETH, surged past $3,000 on Thursday, fueled by strong inflows into spot ETFs and growing interest in tokenized assets. The rally also saw support from options market hedging activity, amplifying upward momentum.
What’s the Scoop?
- ETF Momentum: Spot
Ethereum ETFs recorded significant daily inflows, indicating heightened institutional interest. - Tokenization Trend: The narrative around tokenizing real-world assets on Ethereum is gaining traction, attracting both retail and institutional investors.
- Market Maker Activity: Options dealers, exposed to large volumes of $3K ETH calls, engaged in hedging strategies by purchasing ETH in spot and futures markets, further driving the price upward.
- Price Action: ETH reached a high of $3,038, marking its strongest performance since early 2024.
