Ethereum

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James

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<p>The world’s second-largest cryptocurrency Ethereum (ETH) joins the mega rally in the altcoin space with the ETH price shooting by a staggering 10%. As of press time, ETH is trading 10.36% up at a price of $2113 with a market cap of $254 billion.</p> 
<h3 id="eth-addresses-shoot">ETH Addresses Shoot</h3> 
<p>The recent Ethereum price rally comes amid a strong accumulation of ETH addresses across all cohorts. On-chain data provider Santiment reported that in the past four weeks, Ethereum has experienced a significant surge in its market value, witnessing a remarkable increase of +38%.</p> 
<p>This surge is attributed to substantial growth in the network. Notably, the number of micro addresses holding less than 0.1 ETH has exceeded 100,000 wallets for the first time. Additionally, there is a notable upward movement in the 0.1-10 ETH and 10,000+ ETH tiers.</p> 
<figure id="attachment_163974" aria-describedby="caption-attachment-163974" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-163974" src="https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally.jpeg" alt="" width="1753" height="1059" srcset="https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally.jpeg 1753w, https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally-300x181.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally-1224x739.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally-768x464.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally-1536x928.jpeg 1536w, https://coingape.com/wp-content/uploads/2023/11/ETH-Price-Rally-150x91.jpeg 150w" sizes="(max-width: 1753px) 100vw, 1753px">
 <figcaption id="caption-attachment-163974" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://twitter.com/santimentfeed/status/1722810730158968833" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>Amid the recent ETH price rally, ETH has managed to overcome a major supply wall at $2,030. As per popular crypto analyst <a rel="nofollow" href="https://twitter.com/ali_charts/status/1722635200083988630" target="_blank">Ali Martinez</a>, the ETH price has not further stopped until $2,500.</p> 
<h3 id="blackrock-ethereum-etf">BlackRock Ethereum ETF</h3> 
<p>The biggest trigger to the Ethereum price rally today is the filing of the <a href="https://coingape.com/breaking-blackrock-files-first-ethereum-spot-etf/?utm_source=24hrsupdateall" target="_blank" rel="noopener">spot Ethereum ETF</a> by the world’s largest asset manager BlackRock.</p> 
<p>Delaware’s Division of Corporations website displayed the registration of an iShares Ethereum Trust on Thursday. This development mirrors a pattern observed in June when BlackRock filed for a Bitcoin ETF shortly after a similar notice for the iShares Bitcoin Trust.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">UPDATE: BlackRock <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF confirmed. They just submitted a 19b-4 filing with Nasdaq <a href="https://t.co/pLhuhhK7jo">pic.twitter.com/pLhuhhK7jo</a></p> 
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1722727779186119074?ref_src=twsrc%5Etfw">November 9, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Note that BlackRock is not the first to file for a spot Ethereum ETF. So far there have been seven applications submitted to the US SEC by players such as VanEck, <a href="https://coingape.com/ark-files-first-spot-ether-etf/" target="_blank" rel="noopener">ArkInvest</a>, 21Shares, Invesco, Hasdex, and Grayscale.</p> 
<p>Along with Ethereum, several altcoins have joined the recent rally. Oracle service provider Chainlink has recorded <a href="https://coingape.com/link-price-rally-continues-to-15-amid-historical-chainlink-accumulation/" target="_blank" rel="noopener">100% gains</a> over the past three weeks. On the other hand, Ethereum’s layer-2 platform Polygon is also seeing a sharp rally in its native token <a href="https://coingape.com/matic-price-hits-4-month-high-above-0-80-amid-polygon-whale-accumulation/" target="_blank" rel="noopener">MATIC eyeing $1</a>.</p> 
<p>Amid the current developments, popular crypto analyst Lark Davis <a rel="nofollow" href="https://twitter.com/TheCryptoLark/status/1722686658921828562" target="_blank">said</a>: “Blackrock will get Bitcoin, Ethereum, and yes eventually Chainlink, Solana, etc ETFs. This cycle is when the institutional money shows in big time. It also means it could be the last cycle for insane life changing generational wealth”.</p> 
<p>The post <a rel="nofollow" href="https://coingape.com/eth-price-shoots-10-amid-massive-surge-in-ethereum-addresses-next-2500/">ETH Price shoots 10% After BlackRock Ethereum ETF Filing, Next $2500?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

ETH Price shoots 10% After BlackRock Ethereum ETF Filing, Next $2500?

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