Why Is The Ethereum Price Up Today?
2024年7月16日 - 9:00PM
NEWSBTC
Ethereum (ETH) is up in the last 24 hours. This is thanks to a
recent development suggesting that the Spot Ethereum ETFs are set
to launch anytime soon. These funds are expected to positively
impact ETH’s price, with the second-largest crypto token poised to
reach new highs. Why ETH Is Up Today Ethereum experienced a
price surge following Bloomberg analyst Eric Balchunas’ revelation
that the Spot Ethereum ETFs could begin trading by July 23.
Balchunas mentioned in an X (formerly Twitter) post that the US
Securities and Exchange Commission (SEC) has gotten back to the
fund issuers and asked them to submit their final S-1 filings by
July 22. Related Reading: Analyst Says Solana Price
Could Rise 450% To $840 – Here Are The Drivers The SEC also asked
them to request effectiveness on July 22 so they can launch on July
23. Therefore, the Spot Ethereum ETFs should launch by next week,
provided there are no “unforeseeable” last-minute issues, as noted
by Balchunas. The launch of the Spot Ethereum ETFs is undoubtedly
bullish for ETH, giving the amount of new money set to flow into
its ecosystem through these funds. Crypto research firm K33
predicted that these Spot Ethereum ETFs could attract as much as
$4.8 billion in their first five months of trading. In line with
this, crypto analysts predict that Ethereum could record massive
gains thanks to these inflows. Crypto analyst Linda recently
predicted that the crypto token could rise to as high as $4,000
soon enough. Other analysts, like Altcoin Sherpa, have also
predicted that ETH will hit $4,000 soon. Meanwhile, crypto
analyst and trader Tyler Durden has provided a more bullish
prediction for ETH, stating that the crypto token will rise to
$10,000 “just the way the chips have fallen.” The crypto analyst
alluded to the Spot Ethereum ETFs as what will spark such a
parabolic move for Ethereum. He claimed that institutional
investors had put so much effort into ensuring that the Spot
Ethereum ETFs were approved and that they would ensure that they
made money from these funds while pumping ETH’s price. What The
Spot Ethereum ETFs Mean For Altcoins The Spot Ethereum ETFs launch
is also expected to spark massive moves for other altcoins and is
likely to kickstart the altcoin season. Crypto analyst Crypto Rover
advised market participants to prepare accordingly, boldly
asserting that altcoin season will start once the Spot Ethereum
ETFs begin trading. Related Reading: JPMorgan Says Crypto
Liquidations Will End And Bitcoin Bull Market Will Begin, Here’s
When From a technical perspective, crypto analyst Titan of Crypto
mentioned that altcoins are ready to make major moves to the upside
as Bitcoin’s dominance drops. Crypto analyst Mikybull Crypto also
stated that the macro short-term correction for altcoins is about
to end, meaning that the Spot Ethereum ETFs could be the catalyst
that sparks a bullish reversal. At the time of writing, ETH
is trading at around $3,300, up in the last 24 hours, according to
data from CoinMarketCap. Featured image created with Dall.E,
chart from Tradingview.com
Solana (COIN:SOLUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Solana (COIN:SOLUSD)
過去 株価チャート
から 10 2023 まで 10 2024