Ethereum

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ETH prices are through the roof today, and it’s no wonder. The entire crypto market is feeling the heat with investors throwing their weight behind a potential spot <a href="https://www.cryptopolitan.com/why-ark-invest-bitcoin-etf-isnt-listed-dtcc/" data-type="post" data-id="392494" rel="noopener noreferrer nofollow">Bitcoin ETF</a> approval stateside.<a href="https://cointelegraph.com/news/why-is-ethereum-eth-price-up-today" rel="noopener noreferrer nofollow" target="_blank"> </a>
ETH, in particular, is standing tall, with prices leveling out at a sweet $1,800 after a robust 9% climb over the week. Daily trading volumes? They’re up too, signaling that buyers can’t get enough of Ether.
<h3 class="wp-block-heading" id="grayscale-s-etf-victory-a-tidal-wave-for-eth">Grayscale’s ETF Victory: A Tidal Wave for ETH</h3>
Yesterday was a day for the books. The U.S. SEC finally gave a nod to Grayscale Investment’s plea to turn its Ethereum trust into an ETF.
While they haven’t given the green light to a spot crypto ETF just yet, they’ve flirted with similar ventures linked to Bitcoin and Ethereum futures.
The market’s abuzz, anticipating a spot Bitcoin ETF approval come early 2024, and when that happens, a spot Ethereum ETF seems all but inevitable.
Now, let’s talk whale activity because, oh boy, Ethereum’s ecosystem is swimming with them. Whale transactions over $100,000 have shot up by 15% in just a week, hitting their highest since June.
And it’s not just ETH; Bitcoin, Cardano, and DAI are all in on the action. These massive transactions are lighting a fire under Ether prices, with whales pulling their ETH from exchanges, signaling they’re in it for the long haul.
<h3 class="wp-block-heading" id="short-liquidations-fueling-the-fire">Short Liquidations Fueling the Fire</h3>
ETH’s recent price surge? You can thank a flood of short liquidations for that. Over $70 million in Ether futures contracts got wiped out, while long positions only saw about $41 million in liquidations.
Short sellers scrambling to close their positions pushed prices past the $1,850 mark on Oct. 24.
As things stand, Ethereum bulls have every right to be on cloud nine. The prospect of diving into crypto through traditional stock market brokers is becoming more real by the day.
So, for investors and enthusiasts alike, it’s a time of cautious optimism and sharp eyes on the market’s next move.

Today’s ETH price spike: What investors need to know

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