ETH (Ethereum) fell 0.39% in the last 24 hours.

Gate News Bot news, on November 17, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $3146.36, down 0.39% in the last 24 hours, with a high of $3644.53 and a low of $3007.07, and a 24-hour volume of $31.719 billion. The current market capitalization is approximately $379.754 billion, a decrease of about $1.5 billion compared to yesterday.

Important news about ETH recently:

1️⃣ Japan considers including cryptocurrencies like ETH in financial product regulation The Japanese Financial Services Agency is considering new regulations that would define 105 cryptocurrencies, including ETH, as financial products subject to insider trading rules. The new regulations also plan to reduce the cryptocurrency profit tax rate to 20% and require exchanges to disclose information such as price volatility risks. This initiative aims to strengthen regulation of the cryptocurrency market and is expected to pass relevant legislation during next year's regular session of the National Diet.

2️⃣ Long-term holders accelerate selling, institutional investors buy against the trend The price of ETH recently fell below the 7-day and 30-day moving averages, showing a bearish trend from a technical perspective. On-chain data indicates that long-term holders of 3-10 years are selling ETH at the fastest rate since 2021, creating additional supply pressure. Meanwhile, ETH ETFs have seen a net outflow of over $1.4 billion. However, some large addresses have been accumulating against the trend, with multiple whales collectively buying over $1 billion worth of ETH, indicating that institutional investors still maintain confidence in the long-term outlook for ETH.

3️⃣ Ethereum ecosystem continues to expand The privacy-preserving computing network Nillion has announced a gradual migration to the Ethereum mainnet, with plans to launch a cross-chain bridge in February 2026, allowing users to migrate Cosmos network's NIL tokens to Ethereum. Additionally, Nillion will deploy an L2 layer on Ethereum next year, further expanding the functionality and application scenarios of the Ethereum ecosystem. This migration trend reflects the increasing appeal of Ethereum as a mainstream public chain.

ETH may continue to face some selling pressure in the short term, but its long-term development prospects remain optimistic. The contrarian buying by institutional investors and the continuous expansion of the ecosystem provide support for ETH's long-term value.

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