US spot Ethereum ETFs see highest daily inflows; iDEGEN presale hits $1.2M as token listing nears

November 30, 2024 01:00 AM PST | By Invezz

US spot Ethereum ETFs see highest daily inflows; iDEGEN presale hits $1.2M as token listing nears — Image source: Invezz

Spot Ethereum ETFs hits record high as ETH price soars

On November 29, 2024, spot Ethereum ETFs in the United States reached a remarkable milestone, recording the highest daily inflows in their history.

A total of $332.9 million flowed into nine spot Ether ETFs, surpassing the previous record of $295.5 million set just a few weeks earlier.

Notably, these inflows exceeded those of spot Bitcoin ETFs by approximately $2.9 million on the same day.

Most of the daily inflows came from BlackRock, the world’s largest asset manager, contributing $250.4 million to the total. This suggests that institutional investors are becoming increasingly confident in Ethereum’s long-term growth.

BlackRock’s iShares Ethereum Trust (ETHA) has accumulated over $2 billion in total inflows since its launch in July 2024. This steady influx highlights Ethereum’s growing appeal among traditional investors, with many experts suggesting that the shift from Bitcoin to Ethereum-based products is a clear sign of “alt rotation” in the market.

Ethereum’s price has also seen positive movement, trading at $3,702 at the time of writing. The rally comes amid Ethereum’s recent success in the decentralized finance (DeFi) sector and positive news from the ongoing legal battle for its network’s classification.

Analysts are predicting that the upward trend in Ethereum’s value and the growing institutional interest through ETFs will continue, especially as Ethereum’s ecosystem matures.

The growing interest in spot Ethereum ETFs has been noted by crypto analysts and market commentators. Pentoshi, a pseudonymous trader, remarked on Twitter that the increase in ETH ETF inflows signals the absorption of sellers, suggesting that the market may be poised for further upward momentum.

Analysts also noted that the trend of Ethereum outperforming Bitcoin in terms of inflows is not an isolated event but part of a broader shift that has seen Ethereum maintain a stronger position despite Bitcoin’s market dominance.

iDEGEN presale surpasses $1.2 million

As the “alt rotation” kicks off, iDEGEN, a unique crypto project that merges artificial intelligence (AI) with blockchain technology, is taking center stage raising over $1.2 million in its ongoing presale.

The presale, which launched on November 26, 2024, offers the project’s native token, $IDGN, through a dynamic pricing auction system that mimics the volatile nature of the crypto market.

The presale has already sold over 357 million tokens, and with the presale set to end on January 1, 2025, there is growing anticipation for iDEGEN’s official token listing on major exchanges.

What sets iDEGEN apart from other crypto projects is its innovative approach to integrating AI with blockchain technology.

Described as a “sentient, degenerate meme lord,” iDEGEN adapts and evolves in real-time based on user interactions on X.

Every mention, comment, or tag on its posts feeds into the project’s learning model, making it highly dynamic and unpredictable. This unique blend of blockchain and AI provides a fresh take on the crypto space, capturing the chaotic yet vibrant energy of the crypto community.

The iDEGEN presale pricing system is designed to capture market volatility, with the token price adjusting every five minutes based on activity.

If a purchase is made, the price remains stable for the next five minutes; however, consecutive purchases within the same period result in a 5% increase in price. Conversely, inactivity leads to a 5% decrease. This creates an engaging and interactive experience for investors while reflecting the real-time dynamics of the crypto market.

Once the presale concludes, $IDGN will be listed on major exchanges at a price 10% higher than the final presale price, offering early investors significant returns.

The ongoing presale is gaining traction, with many seeing it as a way to capitalize on iDEGEN’s unique combination of AI, blockchain, and community-driven development.

For those who would like to take advantage of an emerging AI crypto project as the “alt rotation” in the crypto market start, they can visit the official iDEGEN website for more information and possibly participate in the presale.

The post US spot Ethereum ETFs see highest daily inflows; iDEGEN presale hits $1.2M as token listing nears appeared first on Invezz

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