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Ethereum Surges 7.5% as Institutional Activity Boosts Price

Guavy AI Editorial Team
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ETH
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Ethereum's price surged by around 7.5% on September 9 after experiencing strong institutional activity, primarily driven by significant net inflows into US spot Ethereum ETFs.

The Ethereum Foundation also made a record staking deposit of 22,517 ETH worth approximately $50 million.

This increase in price is supported by Ethereum trading above all major moving averages, indicating a bullish momentum across various timeframes.

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