ETH (Ethereum) fell 1.79% in the last 24 hours.

Gate News Bot news, on October 31, according to CoinMarketCap market data, as of the time of writing, ETH (Ethereum) is currently priced at $3836.21, down 1.79% in the last 24 hours, with a high of $4250.67 and a low of $3681.91. The 24-hour volume reached $38.129 billion. The current market capitalization is approximately $463.022 billion, a decrease of about $8.45 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for decentralized finance (DeFi), NFTs, and innovative applications, supporting stablecoins and other non-volatile cryptocurrencies, and is committed to building a fairer financial system. Ethereum has the largest community of blockchain developers and serves as a hub for numerous blockchain innovation projects.

Important news about ETH recently:

1️⃣ Institutional capital flow trend is significant The US Ethereum spot ETF saw a net outflow of $81.4 million, reflecting that institutional investors are adjusting their ETH positions. At the same time, a large investor placed a limit buy order worth $57 million at the $3,800 price level, showing that some institutions remain optimistic about the future of ETH. This bidirectional flow of institutional funds may intensify short-term price volatility of ETH.

2️⃣ Ecosystem revenue continues to grow Ether.fi's annual revenue is approaching 100 million USD, with monthly income in October exceeding 8 million USD, a 180% growth compared to the beginning of the year. This indicates a strong demand for applications and services on the Ethereum network, providing solid support for ETH's value. The continuous growth of ecosystem revenue helps boost investor confidence.

3️⃣ Large institutions accelerate layout MetaMask wallet developer Consensys plans to go public in the United States and has hired JPMorgan and Goldman Sachs as the lead underwriters for the IPO. This move suggests that more traditional financial institutions may enter the Ethereum ecosystem, potentially bringing broader mainstream attention and potential capital inflows to ETH.

From a technical perspective, ETH is currently consolidating within the range of $3800-$4000. The overall selling pressure in the market has eased, and the net price difference on trading platforms is positive, indicating a trend of net capital inflow. Some analysts expect that ETH may maintain a consolidation trend before the end of November, with a potential acceleration in price increase in December.

This message is not intended as investment advice; investors should be aware of market volatility risks.