Ethereum

United

Bitcoin

James

<p>Ethereum (ETH) saw a surge in its price that displayed a better performance than Bitcoin’s (BTC) following the recent buzz on the exchange-traded funds (ETFs) plans by BlackRock. Both these major currencies witnessed a surge in their price as ETH reached a fresh high in the past 24 hours.&nbsp;</p>
<p>Bitcoin rallied to the $38,000 level before its correction as Ethereum soared to $2,000. The news also affected Altcoins as the BlackRock ETF plans were unveiled on Thursday. ETF-awaited news has been anticipated for a while, and investors are gaining more confidence in cryptocurrencies, showcased by the growing influx of both retail and institutional investors.&nbsp;</p>
<h2 class="wp-block-heading" id="ethereum-leads-the-crypto-market-value-surge">Ethereum leads the crypto market value surge</h2>
<p>Ethereum witnessed a surge in its price by 10% after the revelation of BlackRock’s flinging for an Ethereum-based exchange-traded fund (ETF) that was revealed by a Nasdaq filing on November 9. This report enticed the entire crypto community, and enthusiasts and investors alike took this news positively.&nbsp;</p>
<p>The background laid by BlackRock on its plans of listing the Ethereum ETF boosted ETH’s price from its consolidation below the $1,900 mark.&nbsp;</p>
<p>ETH saw a rise to $2,100 after the report filing and is currently priced at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow" target="_blank">$2,120</a> at the time of writing, placing a 10.31% increase in the past 24 hours. Its market cap also increased by 10.27%, with a 208.43% increase in dialysis trading volume.&nbsp;</p>
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   <p lang="en" dir="ltr">Blackrock will get Bitcoin, Ethereum, and yes eventually Chainlink, Solana, etc ETFs. <br><br>This cycle is when the institutional money shows in big time.<br><br>It also means it could be the last cycle for insane life changing generational wealth. <br><br>DO NOT SCREW THIS UP!</p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1722686658921828562?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">November 9, 2023</a>
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<p>Ethereum topped Bitcoin early on November 10 after the iShares Ethereum Trust filing registered in Delaware state. The state is a central point for most businesses in the United States. According to historical market analysis, a similar incident was witnessed in June when the same firm, BlackRock, announced its iShares Bitcoin Trust registration.</p>
<p>This ETF registration came before the actual application, which also affected Bitcoin’s market value, as the recent frenzy witnessed in October is linked to the application proceedings.&nbsp;</p>
<h2 class="wp-block-heading" id="influence-of-the-etf-news-on-the-crypto-market">Influence of the ETF news on the crypto market</h2>
<p>History repeats itself as the same happenings were witnessed on Thursday, a few hours after the Delaware <a href="https://www.cryptopolitan.com/nomuras-laser-digital-ethereum-adoption-fund/" rel="noopener noreferrer nofollow">Ethereum</a> ETF filing that was confirmed by the Nasdaq filing. The filing highlights BlackRock’s intentions of focusing on an ether-based ETF.&nbsp;</p>
<p>James Seyffart, a Bloomberg ETF analyst, expressed his views on the ETF plans and recorded this surge after the submission of a 19b-4 filing by Nasdaq.&nbsp;</p>
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   <p lang="en" dir="ltr">UPDATE: BlackRock <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Ethereum</a> ETF confirmed. They just submitted a 19b-4 filing with Nasdaq <a href="https://t.co/pLhuhhK7jo" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/pLhuhhK7jo</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1722727779186119074?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">November 9, 2023</a>
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<p>In a short time squeeze between the early hours of November 9, it reached an 18-month fresh high just shy of $38,000 from its recent tag valued at around $35,000, following the BlackRock ETF news.&nbsp;</p>
<p>Bitcoin is currently tagged at <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow" target="_blank">$36,724</a> at the time of writing, with a 0.63% daily increase. Its market cap also increased by 0.65%, with a 66.56% gain in daily trading volume. From this information, it is clear that Ethereum outperformed Bitcoin based on its daily gain, trading volume, and increased market cap percentage.&nbsp;</p>
<p>Other altcoins were affected by this news, but not as expected from the last info analyzed during the spot Bitcoin ETFs filing by <a href="https://www.cryptopolitan.com/blackrock-ethereum-trust-officially-register/" rel="noopener noreferrer nofollow">BlackRock,</a> which saw their prices rally with Bitcoin’s.&nbsp;</p>
<p>The recent ETF plans did not affect altcoins as their prices retreated, among them being Ripple’s XRP, which declined by -3.65% based on market analysis today. Its price is valued at $0.667, with a decrease in market cap by -3.55%.&nbsp;</p>
<p>Dogecoin (DOGE) recorded a decline of -3.50% with a price of $0.07376, while Toncoin (TON) decreased 10% from its 20% rally recorded last week. Stella also stands at a price decline of -5.99% at its market value of $0.08588 at the time of writing, with a 120.63% increase in trading volume in the past 24 hours.</p>
<p>According to CoinGecko, the global crypto market cap is currently $1.45 trillion. This represents a 1.42% change in the last 24 hours and a 54.37% change from a year ago. Bitcoin’s&nbsp;market cap is at $715 billion, reflecting a 49.45% dominance. Meanwhile, the market cap&nbsp;of stablecoins is $126 billion, accounting for 8.75% of the total crypto market cap.&nbsp;</p>

Ethereum soars to a 7-month high amid the BlackRock ETF approval

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