ETH (Ethereum) decreased by 4.57% in the last 24 hours.

Gate News Bot message, November 12th, according to CoinMarketCap data, as of press time, ETH (Ethereum) is trading at $3,421.21, down 4.57% in the past 24 hours. The highest price reached $3,656.15, and the lowest dropped to $3,170.51. The 24-hour trading volume is $38.693 billion. The current market capitalization is approximately $412.929 billion, a decrease of about $19.765 billion from yesterday. ETH is currently ranked 2nd in the cryptocurrency market cap list.

Recent important news about ETH:

1️⃣ Institutional Investors Continue to Increase ETH Holdings Republic Technologies raised $100 million through zero-coupon convertible bonds, with over 90% allocated to purchasing ETH. This reflects growing confidence among institutional investors in ETH’s long-term value and may provide sustained buying support for the market.

2️⃣ Large Holders Become More Active A well-known ETH whale added a total of 14,742 ETH in the past 20 minutes, bringing their long position to 54,742 ETH, valued at approximately $193 million. The active participation of large holders may signal a warming market sentiment and could help drive ETH’s price movement.

3️⃣ Increased ETH Collateral Activity on Lending Platforms A major institution collateralized 78,444 ETH on Aave and borrowed 44,287 ETH, worth about $156 million. This leverage activity indicates some investors are optimistic about ETH’s short-term prospects but also increases market volatility risk.

From a technical perspective, ETH’s price is fluctuating within the $3,400-$3,600 range, which may face some short-term pressure. However, considering ongoing institutional buying and active participation by large holders, the medium- to long-term outlook for ETH remains worth watching.

This message is not investment advice. Please be aware of market volatility risks when investing.