ETH (Ethereum) rose 2.98% in the last 24 hours.

Gate News Bot news, September 29, according to CoinMarketCap, as of the time of writing, ETH (Ethereum) is currently priced at $4123.39, with a rise of 2.98% in the last 24 hours, reaching a high of $4227.73 and a low of $3829.01. The 24-hour volume is $24.797 billion. The current market capitalization is approximately $497.707 billion, an increase of $14.39 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides a home for the largest and most active developer ecosystem in Web3. Developers can use JavaScript and Python, or learn smart contract languages such as Solidity or Vyper to write their own applications.

Important recent news about ETH:

1️⃣ Large amounts of ETH withdrawn from centralized exchanges Two newly created wallet addresses have withdrawn a total of 5,830 ETH, valued at approximately 24.08 million USD, from centralized exchanges in the past 24 hours. This suggests that institutional investors may be increasing their long-term holdings of ETH, anticipating a rise in future prices.

2️⃣ Vitalik Buterin sells part of his token holdings Vitalik Buterin, the co-founder of Ethereum, sold two types of meme tokens that he received for free within two hours, earning approximately $114,700 in USDC and ETH. This action may influence the market's perception of meme tokens, but has a limited impact on the price of ETH.

3️⃣ Large-scale fund outflows for Ethereum spot ETF During the trading days last week (from September 22 to 26), Ethereum spot ETFs saw a net outflow of $796 million, with all nine ETFs experiencing net outflows. Among them, the Fidelity ETF FETH had the largest net outflow, reaching $362 million. This phenomenon reflects a decrease in the short-term optimism of institutional investors towards ETH.

From a technical perspective, the ETH price has reached the lowest relative strength index (RSI) level since the April low, indicating that it may currently be in an oversold condition. In addition, there are over $5.2 billion worth of ETH options expiring on September 27, which is one of the largest quarterly expiration options in history and may impact short-term price movements.

This message is not intended as investment advice; investors should pay attention to market volatility risks.