Ethereum Soars 30% as US SEC Approves Spot ETFs, Eyes $4K Mark
May 27, 2024The US SEC's approval of spot Ethereum Exchange-Traded Funds (ETFs) has led to a bullish trend for Ethereum (ETH), driving prices towards $4,000 with a 30% surge.
ETH has seen a 4% price increase in the past 48 hours, bringing it closer to the $4k mark.
The approval of ETH ETFs has boosted prices and shifted trader sentiment, evidenced by a record high open interest of $11 billion in the derivatives market.
The Base chain network is gaining attention in the altcoin market, with strong performance from tokens like Ethlas (ELS), Grand Base (GB), and Mfercoin (MFER).
The 99Bitcoins project has attracted over $1.6 million for its 99BTC token presale, offering educational resources and industry insights.
Experts see the approval of cryptocurrency ETFs as a positive development, with Solana (SOL) potentially being the next contender for ETF approval.
Ripple's ongoing lawsuit may delay the approval of an XRP ETF.
The market remains dynamic, presenting growth and innovation opportunities in projects like Ethlas, Grand Base, Mfercoin, and 99Bitcoins.
Summary based on 91 sources
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Sources
Yahoo Finance • May 27, 2024
Standard Chartered: Solana, XRP ETFs Could Be NextYahoo Finance • May 26, 2024
Prediction: Bitcoin Will Reach $1 Million Because of This Little-Known PhenomenonYahoo Finance • May 27, 2024
Crypto Traders Eye Ether Record, Rising Volatility From US ETF HypeYahoo Finance • May 27, 2024
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