Lokesh Gupta
09-11-2024
The cryptocurrency market experienced a notable rally this week, following a significant political outcome in the U.S. The Republicans’ strong performance, coupled with Donald Trump’s re-election for a second term, fueled investor confidence.
Bitcoin reached a historic milestone, surpassing $77,000 , while Ethereum surged past $3,000 on Friday, maintaining its upward momentum in the wake of the election results.
Recent data highlights substantial inflows into Bitcoin exchange-traded funds (ETFs), with a total daily net inflow of $293.47 million, bringing the cumulative inflow to $25.79 billion as of November 8. BlackRock’s IBIT fund spearheaded the surge, recording an impressive one-day net inflow of $206.13 million, boosting its total inflow to $27.39 billion.
Fidelity’s FBTC also posted significant growth, attracting $33.52 million in daily investments. Additionally, Bitwise’s BITB fund reported a $23 million daily increase, while Grayscale’s GBTC saw no change, with its net outflow remaining at -$20.19 million.
Ethereum has recently seen a notable rise in its market value, driven by two main factors. The first is the increased optimism about possible deregulation in the digital asset sector under the Trump administration. This change could boost the growth of decentralized finance (DeFi), an area where Ethereum holds a dominant position.
BlackRock’s iShares Ethereum Trust (ETHA), a spot Ether ETF, drew substantial investor interest. On November 8, ETHA secured $85.86 million in new investments, marking its largest single-day inflow in 94 days. This substantial capital movement underscores rising institutional confidence in Ethereum’s long-term potential and reflects a broader wave of renewed interest in the cryptocurrency market.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
1 month ago
Cryptocurrency market updates
1 month ago
Cryptocurrency security updates
Owned by:-
DCG Tech FZCO, UAE
Delivery Partner:-
Gabbar MediaTech Pvt Ltd.
Copyright © 2025 Coin Gabbar. All Rights Reserved.
