Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
The approval of spot ether exchange-traded funds in the U.S. could lead to a significant rise in the token's value, mirroring the market reaction seen with bitcoin ETFs.
The forecast echoes the market reaction after spot bitcoin ETFs were approved in January, the Singapore-based firm said. Bitcoin rose to over $73,000 from $42,000 in the two weeks after the ETFs started trading on Jan. 11, Buying activity increased on both centralized and blockchain-based crypto exchanges, on-chain analytics firm CryptoQuant said in a Wednesday report. Holders bought over 100,000 ETH in spot markets on Tuesday, the highest daily level since September 2023, asOpen interest on ether-tracked futures spiked in tandem to a record $14 billion. That's 67% of bitcoin open interest as of Wednesday, an unusually high level.
France Dernières Nouvelles, France Actualités
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