Ethereum

2024

when

<p>The price of Ethereum has surged by nearly 67% since the beginning of 2024, driven by a series of favorable developments. The approval of spot Ethereum ETFs by the SEC, as well as major updates to its network, have boosted investor appetite for this leading cryptocurrency.</p>
<h2 id="h-ethereum-a-safe-bet-in-2024">Ethereum, a safe bet in 2024!</h2>
<p>The year 2024 promises to be extremely promising for Ethereum. The <a href="https://www.cointribune.com/etf-ethereum-la-cle-pour-debloquer-le-prochain-bull-run-crypto/" target="_blank" rel="noopener noreferrer nofollow">second cryptocurrency</a> in terms of market capitalization has already shown a significant price increase, around 67% since January. This surge can be explained in particular by the much-anticipated approval of spot Ethereum ETFs by the American financial watchdog, the SEC, on May 23rd.</p>
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<p>On the <a href="https://en.coin-turk.com/ethereum-shows-significant-price-increase-in-2024/?utm_source=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_medium=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">technical side</a>, the scenario seems particularly favorable for the cryptocurrency. The upward break of the historical descending wedge at the end of May, accompanied by a resurgence in activity, opened the door to an intermediate target of around $4,250 by the end of June, representing additional upside potential of 12.65%.</p>
<p>Several analysts believe that a <a href="https://www.cointribune.com/en/crypto-is-ethereum-catching-up/" target="_blank" rel="noopener noreferrer nofollow">powerful upward movement</a> of great magnitude could be set in motion for altcoins. Its outcome could propel Ethereum to the vicinity of $6,000 by early July, an enticing prospect for investors.</p> 
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<h2 id="h-growing-institutional-interest-in-the-second-cryptocurrency">Growing institutional interest in the second cryptocurrency</h2>
<p>According to data from the analysis platform Santiment, the largest whales in the market significantly strengthened their positions on Ethereum from May 20th, when the first rumors about the <a href="https://www.cointribune.com/en/the-approval-of-ethereum-etfs-is-going-to-change-everything/" target="_blank" rel="noopener noreferrer nofollow">approval of ETFs</a> emerged.</p>
<p>Institutional investors, represented by these entities with the largest reserves (10 to 100 million ETH), seem to have anticipated this move. Their held supply recently increased by about 0.5%, indicating a renewed appetite.</p>
<p>At the same time, Ethereum reserves on exchanges have significantly declined, reflecting an increased willingness of holders to secure their assets off centralized platforms.</p>
<p>In summary, driven by favorable regulatory and technical developments, Ethereum seems well-positioned to continue its impressive <a href="https://www.cointribune.com/en/crypto-ethereum-takes-off-with-a-spectacular-surge/" target="_blank" rel="noopener noreferrer nofollow">upward trajectory</a> in the coming weeks. The road to $4,000, or even beyond, remains wide open for this now indispensable cryptocurrency.</p>

Crypto: Ethereum defies gravity in 2024, with $6000 in sight before the summer!

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