The cryptocurrency market is showing potential changes in investor sentiment, as indicated by the recent inflows into Ethereum ETFs after prolonged outflows.
First Positive Ethereum ETF Inflow
According to data from analytics platform Glassnode, Ethereum ETFs recorded their first positive net inflow after eight weeks of outflows. The inflow amounted to around 40,000 ETH, suggesting a shift in sentiment toward Ethereum investments.
State of the Crypto Market
According to the latest CoinShares report, the crypto market saw inflows of $3.4 billion last week, the third largest on record. Bitcoin led with $3.18 billion, while Ethereum attracted $183 million. At the time of publication, ETH was down 0.84% over the last 24 hours, trading at $1783.
Proposal for Increasing Gas Limit in Ethereum
Ethereum researcher Dankrad Feist has proposed a hundred-fold increase in the gas limit to improve mainnet scalability. The new EIP-9698 aims for exponential growth of the gas limit over four years, promoting predictability and transparency in the limit adjustment process.
Recent developments in Ethereum may indicate a shift in investor sentiment and renewed interest in the network, highlighted by proposals for enhancing its scalability.
