By Shikha Singh
Ethereum ETF total flows flip net positive after runner-up inflow day for BlackRock.
In November, U.S. spot Ether ETFs saw strong inflows, with $135.9 million added on Nov. 12, following a record $295 million the day before. This pushed the total net inflows since July to $107.2 million.
BlackRock’s iShares Ethereum Trust led with $131.4 million, its second-largest inflow. The funds have now reversed over $3.1 billion in outflows from Grayscale’s Ethereum Trust.
Over five days, nearly $650 million flowed into Ether ETFs. Ethereum’s price surged 32% to above $3,400, boosting its market cap to over $400 billion.
1.25 bn USDT Flows From The Tether Treasury To Centralized Crypto Exchanges.
Tether has recently transferred 1.25 billion USDT to centralized exchanges in the past 24 hours to meet the rising demand for digital assets amid a crypto market surge.
This follows a series of actions by Tether, including minting 2 billion USDT on November 10, which contributed to Bitcoin’s all-time high of $89,500.
On November 11, Tether also minted another 2 billion USDT, channeling it to exchanges like Kraken and Bitfinex.
Additionally, Tether is conducting a chain swap to move USDT from multiple blockchains (TRC20, AVAX, NEAR, CELO, and EOS) to the Ethereum network without changing its overall supply. Tether remains the largest stablecoin issuer with a market cap of $125 billion.
Ethereum (ETH) Funding Rate Flashes Red Flag After Price Retraces From $3,400.
Ethereum’s price surged above $3,400 today, driving its funding rate to the highest level since March, signaling strong bullish sentiment.
However, as ETH dropped to $3,256 after peaking at $3,445, the high funding rate raised concerns of an overheated market, increasing the risk of a pullback or liquidation-driven sell-offs.
Additionally, around $200 million in ETH entered exchanges, signaling potential sell-offs. While some analysts predict a possible decline to $3,009 if selling pressure persists, if bulls maintain support above $3,221, ETH could rise toward $3,563, with a longer-term target of $4,000.
Metaplanet Discloses $28 mn Gain on Bitcoin Holdings.
Metaplanet, a Tokyo-based firm dubbed “Asia’s MicroStrategy,” has increased its Bitcoin holdings by $28 million, surpassing its market cap at the start of the year.
Since late September, it has more than doubled its Bitcoin acquisition, rising from 492.82 BTC to 1,018.17 BTC by mid-November.
In October alone, the company bought over 156 BTC for $10 million, bringing its total Bitcoin investment to $64 million.
Despite this growth in Bitcoin holdings, Metaplanet reported a net loss of $2.1 million for the nine months ending September 30, though its revenue increased by 46.3% to $1.7 million.
The firm is also exploring Bitcoin options trading and plans to continue expanding its holdings. Metaplanet’s stock dropped 5% following the report, trading at 1,766 JPY ($11.41).
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