Ethereum (ETH) declined 3% on Friday despite US spot ETH exchange-traded funds (ETFs) nearing eight straight weeks of inflows worth nearly $2 billion. The strong inflows follow increased Ethereum treasury allocations in public companies and progress in stablecoin legislation in the US.
Cryptocurrencies are generally edging lower on Friday, following in Bitcoin’s (BTC) footsteps. After an impressive run to $110,530 on Thursday, the largest crypto by market capitalization retreated, trading at around $108,964 at the time of writing.
Australian Dollar (AUD) is expected to trade sideways between 0.6540 and 0.6595 against US Dollar (USD). In the longer run, should AUD break clearly above 0.6595, it could trigger a further rise toward 0.6620, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.