ETH Discussions Spikes Amidst Spot ETF Filings, Are Bulls Near?

Ark Invest And 21 Shares Files For  Spot Ethereum ETF

Santiment’s findings indicate that trader speculation and optimism have propelled Ethereum to be the top trending asset in the crypto world. This marks the first time since last year’s halving that Ethereum has enjoyed such widespread attention and interest.

advertisement

The news that two well-known companies, 21Shares, and ARK Investment Management, are competing to introduce the first Ethereum ETF in the United States has brought Ethereum’s possible ETF approval into sharper focus. These businesses are working to launch the ARK 21Shares Ethereum ETF, an innovative project that, if successful, would be the first exchange-traded fund in the United States to be supported by Ethereum. The ticker for this fund is expected to be ARKE.

Both Ether and Bitcoin values rose after the original announcement, but the surge was brief, and both cryptocurrencies soon returned to their pre-filing levels. At the time of writing, Ethereum is up a tiny 0.55% over the previous 24 hours to trade at $1,645.37.

Also Read: Crypto Prices Today: Bitcoin, Pepe Coin Beat The Bears, SNX Sinks Down

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Ethereum Shows Signs Of Price Recovery

Nevertheless, there are encouraging signs pointing towards a potential Ethereum price surge. Analysts have noted that ETH/BTC may have reached its bottom, suggesting a possible reversal in price. Additionally, historical patterns reveal that Ethereum tends to gain momentum approximately 252 days before a Bitcoin halving event. This, coupled with the expectation that the U.S. SEC may approve Ethereum ETF futures, has generated significant bullish sentiment.

Furthermore, Ethereum’s development ecosystem remains active, with Ethereum client Nethermind recently releasing an update for validator clients and node operators to prepare for the upcoming Holesky testnet launch on September 15. This milestone is considered a pivotal step in Ethereum’s evolution, signaling progress and innovation within the network.

Santiment’s data also indicates a remarkable surge in Ethereum network activity, with over 467,000 unique address interactions recorded in a single day. Such increased adoption and activity often translate into enhanced value for the cryptocurrency.

Ethereum whales have also made a sizable surge. According to popular crypto analyst Ali, these whales bought over 260,000 ETH, worth close to $425 million, in the last 24 hours, showing a significant belief in Ethereum’s future potential. The cryptocurrency market is still active and rife with opportunities as the Ethereum community excitedly awaits the SEC’s verdict on Ethereum ETF futures and closely monitors Ethereum’s progress.

Also Read: Grayscale’s Parent DCG Accused Of Knowing Genesis And FTX Bankruptcy Beforehand

Comments

Post a Comment

Popular posts from this blog

FTX and Alameda Research Dump $83.6 Million on Binance, Coinbase

Bankrupt FTX and Alameda projects transfer $13.6 million to major exchanges in 24 hours. Cumulatively, they have moved over $83 in various cryptocurrencies within a week. FTX and Alameda still control over half a billion dollars in various cryptocurrencies. In a recent development, it has come to light that addresses closely associated with the bankrupt crypto projects FTX and Alameda have engaged in significant transfers again within the last 24 hours.  According to multiple on-chain tracking resources, FTX-tagged wallets have moved six crypto assets worth over $13.6 to crypto exchanges Binance and Coinbase today alone. Their most recent crypto movement at the reporting time was valued at $5.49 million. These transfers encompassed a range of popular Ethereum Virtual Machine (EVM) tokens. It includes $2.64 million in DYDX, $1.05 million in AXS, $520,000 allocated to AAVE, and $4.85 million directed towards GRT. Prominent Chinese reporter Colin Wu captured...
Read more

Bitcoin Price Prediction: BTC/USD Market Dips Below the Key Point of $60,000

Image
Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – April 18 In the recent sessions, the trade worth of BTC/USD was trading between the points of $65,000 and $60,000. But, as of now, the crypto’s value has succumbed to a degree of pressure inflicted on it by the US Dollar in the market. BTC/USD Market Key Levels: Resistance levels: $60,000, $65,000, $70,000, Support levels: $50,000, $45,000, $40,000 BTC/USD – Daily Chart Today’s ongoing formation of a bearish candlestick has engulfed several featuring of bullish candlesticks that saw BTC’s point initially to the peak trading zone of $65,000. That signifies a start in the return of a downward move in the crypto-trade. The lower bullish channel-line and the 14-day SMA trend-line have been breached to the south. Like wisely, the Stochastic Oscillators have crossed southbound from the overbought region to point towards the south around range 40. That indicates ongoing selling pressures ...
Read more

Shiba Inu: Only 0.7% of Holders are SHIB Billionaires

Image
Despite the massive popularity of the meme coin, recent data shows Shiba Inu currently only sees 0.7% of its holders as SHIB billionaires. Moreover, it appears as though the large holders of the meme coin are continuing to fall.  The fall in this percentage is likely attributed to profit-taking measures by these investors. Subsequently, that seems to be the persisting trend among those that are presently on the SHIB market. How that affects the meme coin, and whether or not it will change, remains to be seen.  Source: The Economic Times SHIB Billionaires Falling The meme coin market has long been defined by the passionate communities that hold it up. Indeed, assets like Shiba Inu, and Dogecoin (DOGE) have thrived because of the investors who are committed to seeing them thrive. Yet, that does take patience, and it’s patience that may be fading.  Data from IntoTheBlock has shown that Shiba Inu saw 0.7% of holders as SHIB billionaires. Nevertheless, the data is showing ra...
Read more