ETH Plunged 16% in October as Ethereum ETF Outflows Hit All-Time High

Ethereum witnessed one of the sharpest declines in October, despite the positive but brief start to the month, tanking by over 16%. A large portion of those losses came because of the ETF outflows, which hit an all-time high, with over $1.6 billion leaving the funds. Similar to the bitcoin landscape , the leading altcoin entered October following three very successful months. After its early July low at $1,500, the asset rebounded swiftly during that month and ended it with a substantial 18.52% surge. Then came the mid-August breakout rally that drove the alt higher, posting a 32.60% surge.