Ethereum News: ETH Briefly Climbs Above $2,500 as SpaceX Lifts Tech Stocks

• Ethereum (ETH) briefly climbed above $2,500 on Wednesday, the first time in over a week. It traded at $2,490.

• ETH futures liquidations reached $53.7 million over 24 hours, with $43 million from shorts, according to Coinglass. It was a third straight day of shorts leading liquidations.

• SpaceX shares jumped 10% after the company reported 161% year-on-year revenue growth in the third quarter.

• U.S. spot ETH ETFs recorded $26.13 million in net outflows on Tuesday, their 15th negative reading in the last 16 trading days.

• Ethereum staking rose to a record 43.8 million ETH, 35.9% of total supply, according to Bitwise.

Ethereum briefly climbed above $2,500 on Wednesday, the first time in more than a week. Renewed risk-on sentiment in tech stocks spilled over into the crypto market, according to FXStreet.

The latest Ethereum news comes alongside a rally in stocks after SpaceX results.

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Ethereum Market Data

Key figures:

• ETH price: $2,490

• ETH futures liquidations (24 hours): $53.7 million

• Liquidated shorts: $43 million

• Streak: third straight day of shorts leading liquidations

• U.S. spot ETH ETF flows (Tuesday): -$26.13 million

• ETH staked: a record 43.8 million ETH (35.9% of supply)

Readers who follow Ethereum news and liquidations in real time can do so through the SpotX live stream.

Main News: ETH Rises Alongside Stock Indices

The move triggered $53.7 million in ETH futures liquidations over the past 24 hours, according to Coinglass. Liquidated short positions accounted for $43 million.

The rise follows improving risk-on sentiment in stocks. The tech-heavy NASDAQ climbed 1.3% and the S&P 500 gained 0.7%.

SpaceX Results and the Tesla Merger Talks

Much of the gains came from a 10% spike in shares of SpaceX after the company reported 161% year-on-year revenue growth in the third quarter. Elon Musk said SpaceX and Tesla have set up special committees to discuss a merger, according to CNBC.

Cryptocurrencies had declined alongside tech stocks the week before. AI-related spending concerns sparked sell-offs in key semiconductor names across the U.S., Korea and Taiwan.

Traders who monitor Ethereum liquidations and ETF flows can follow live data through SpotX.

Ether ETF Outflows Continue

Despite ETH’s recovery over the past two days, ETF flows remain negative. U.S. spot ETH ETFs recorded $26.13 million in net outflows on Tuesday, according to SoSoValue. That’s 15 negative readings out of the last 16 trading days.

Ethereum Staking Reaches a Record

Ethereum staking rose to a record 43.8 million ETH, representing 35.9% of total supply, according to Bitwise.

Summary: Ethereum News Today

ETH briefly topped $2,500 on Wednesday, its first time above that level in over a week, as SpaceX results lifted tech stocks.

• Price: $2,490 after briefly topping $2,500

• Liquidations: $53.7 million, with $43 million from shorts

• Stocks: NASDAQ +1.3%, S&P 500 +0.7%, SpaceX +10%

• ETF flows: -$26.13 million on Tuesday, 15 negative readings in 16 trading days

• Staking: a record 43.8 million ETH

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