Ethereum (ETH) is a decentralized blockchain platform enabling the creation and maintenance of secure digital ledgers and peer-to-peer contracts. ether (ETH) is a native cryptocurrency of the Ethereum network and is widely used for transactions, including paying for goods and services and sending or receiving money.
Ethereum (ETH) has dropped by 6.38% over the last seven days, mirroring the broader market trend. Currently, ETH is trading at $3,079.42, experiencing 0.87% decrease in the last 24 hours chart. But the real question now is whether Ethereum will maintain its current level or climb to $3,500 this weekend.
As per our expert’s technical analysis, the Ethereum is set for a bullish week. The ETH altcoin is projected to rise by 5% to reach a high of $3,234. Although still short of the $3.500 mark, the coming days could help Ethereum achieve this milestone.
Are Ethereum ETFs About to Hit the Market?
Katherine Dowling, Chief Compliance Officer at Bitwise, noted that the Securities and Exchange Commission (SEC) and potential ETF issuers are debating “fewer and fewer” concerns in the S-1 filings. Currently, there are eight spot Ether ETFs available, but the exact launch date remains uncertain.
Form S-1s include details about the issuer and the securities they intend to offer. Once approved, the Ethereum ETFs can be sold.
Additionally, there are also other factors such as market sentiment, regulatory issues, and the introduction of exchange-traded funds (ETFs) could drive up the price of Ethereum.
Also Read: Essential Altcoins to Own in 2024 for Extreme Wealth
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
