Ethereum Price Pumps 5% As Analysts See ETH ETF Approvals This Week And Traders Rush To Buy This P2E ICO With Only Hours Left
The Ethereum price surged 5% in the last 24 hours to trade at $3,354 as of 03:13 a.m. EST on trading volume that rose 25% to $12 billion.
This comes as ETH crossed the $3,300 threshold amid anticipation that spot ETH ETFs (exchange-traded funds) could launch as soon as this week. The ETH price has surged 15% in the past week.
According to Nate Geraci, ETF analyst and president of The ETF Store, eight spot ETH ETFs could be launched by the end of this week.
Issuers like VanEck and 21Shares filed amended registrations last week, hoping to receive the SEC’s final signoff to begin listing their spot Ether ETF products.
As the anticipation continues to build, the Ethereum price has since breached the $3,100 resistance, soaring over the upper boundary of the rising channel, according to data from GeckoTerminal .
Ethereum Price Set To Sustain Its Rally Over The Rising Channel
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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