ETH (Ethereum) has fallen 1.97% in 24 hours.

Gate News Bot Message, October 29, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $4019.35, down 1.97% in the last 24 hours, with a high of $4250.67 and a low of $3718.08. The 24-hour volume reached $37.758 billion. The current market capitalization is approximately $485.128 billion, a decrease of $9.771 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for decentralized applications and blockchain networks, supporting a variety of use cases including stablecoins, decentralized finance, NFTs, and more. Ethereum has the largest blockchain developer ecosystem, allowing applications to be developed using languages such as JavaScript and Python.

Important recent news about ETH:

1️⃣ Fusaka upgrade is about to launch on the mainnet The Ethereum Fusaka upgrade has passed the final testnet and is expected to go live on the mainnet around December 3rd. This upgrade will reduce transaction costs and improve efficiency by expanding blob storage and implementing PeerDAS, thereby enhancing the scalability of Layer 2. The blob space is expected to increase by more than 400%, promising faster transaction speeds and lower costs for Ethereum.

2️⃣ Institutional funds continue to flow into the ETH market As of October 28, nine Ethereum ETF funds have seen a net inflow of 27,066 ETH (approximately $111 million). Among them, BlackRock's Ethereum ETF attracted an inflow of 17,238 ETH (approximately $70.69 million), bringing the total holding amount to 4.01 million ETH. This indicates that institutional investors' interest in ETH continues to grow.

3️⃣ Ethereum ecosystem continues to expand Currently, the total ETH holdings of 70 Ethereum treasury entities have surpassed 6 million, accounting for 5.01% of the circulating supply of Ethereum, worth approximately $24.87 billion. At the same time, the reserve scale of Ethereum ETFs has reached 6.78 million ETH, accounting for 5.6% of the circulating supply. This reflects the continuous expansion of the Ethereum ecosystem and the acceleration of institutional adoption.

From a technical perspective, ETH has experienced increased volatility recently and may continue to maintain a consolidation pattern in the short term. Investors should closely monitor the progress of the Fusaka upgrade and its potential impact on the market.

This message does not constitute investment advice, and investors should be aware of market volatility risks.