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2w ago

Billions in ETF Inflows Drive Ethereum Close to 2021 Peak Despite Volatility

A hotter-than-expected producer price index reading triggered more than $1 billion in liquidations as Ethereum approached its 2021 peak.

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Bullish bets lose $860m to liquidations as eth, btc, xrp, doge price drop 9%

Overview

  • Ethereum traded between $4,600 and $4,900, closing in on its November 2021 record high of $4,860.
  • Spot ETH ETFs recorded daily inflows of $500 million to more than $1 billion, lifting August totals above $3 billion.
  • Exchange-held ETH reserves dropped to about 18.5 million, a nine-year low, while record staking levels further reduced available supply.
  • A hotter-than-expected July PPI report and Treasury Secretary Bessent’s remarks on Bitcoin purchases triggered more than $1 billion in crypto liquidations.
  • Major institutional players such as BitMine Immersion Technologies amassing 1.2 million ETH and significant transfers between Binance and Wintermute signaled continued accumulation despite elevated volatility.