Ethereum

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Defiance

<p>Ethereum (ETH), the second-largest cryptocurrency globally, has surged above the $3,700 mark, recording a remarkable gain of over 10% in the past week. As of the latest update, the <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">ETH price</a> has increased by 8%, reaching $3,704, accompanied by a market capitalization of $444 billion. With this latest surge, Ethereum’s value has risen by 61% since the start of the year</p> 
<h3 id="eth-price-rallies-with-ethereum-etf-expectations">ETH Price Rallies With Ethereum ETF Expectations</h3> 
<p>Ether has recently captured the cryptocurrency spotlight with its most significant surge in over a month, driven by speculation surrounding the potential approval of applications for US exchange-traded funds (ETFs) for the token.</p> 
<p>Traders are closely monitoring the situation, anticipating a potential rally in Ether’s price if the Securities and Exchange Commission (SEC) permits <a href="https://coingape.com/spot-ethereum-etf-applicants-meet-sec-but-rejection-fear-remain/" target="_blank" rel="noopener">spot Ethereum ETFs</a> directly holding the token. Major investment firms like BlackRock Inc. and Fidelity Investments have submitted applications for such funds, but uncertainties persist regarding regulatory approval.</p> 
<p>Similarly, the SEC’s decision to approve spot Bitcoin portfolios depended on the correlation between CME Bitcoin futures and the digital asset’s price movements. This correlation was considered sufficient for detecting fraudulent activities and market manipulation.</p> 
<p>According to James Seyffart, an ETF analyst at Bloomberg, Defiance Investments has filed an application with the US Securities and Exchange Commission (SEC) to introduce a 2x leveraged Ethereum futures ETF. This ETF could potentially commence trading as soon as late June.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Defiance ETFs just filed for a 2x leveraged <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#ethereum</a> futures ETF. Will potentially trade under the ticker <a href="https://twitter.com/search?q=%24ETHL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETHL</a> <a href="https://t.co/9Z6M6tcQ3V">pic.twitter.com/9Z6M6tcQ3V</a></p> 
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1777439474697298371?ref_src=twsrc%5Etfw">April 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h3 id="erc20-assets-in-limelight">ERC20 Assets In Limelight</h3> 
<p>In recent updates from on-chain data provider Santiment, Ethereum’s strong performance at the start of the week has propelled ERC20 assets significantly ahead of the broader markets. Over the past week, the sector has seen an impressive growth of +8.1%. Notable performers include TON (+21%), LDO (+12%), and ENA (+12%), which continue to surge.</p> 
<figure id="attachment_190481" aria-describedby="caption-attachment-190481" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-190481" src="https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish.jpeg" alt="" width="2686" height="1792" srcset="https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish.jpeg 2686w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-1224x817.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-1536x1025.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-2048x1366.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/04/Ethereum-Assets-Flourish-272x182.jpeg 272w" sizes="(max-width: 2686px) 100vw, 2686px">
 <figcaption id="caption-attachment-190481" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://twitter.com/santimentfeed/status/1777498088305000755" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>Additionally, ERC20-based NFTs are experiencing renewed attention after a period of relative quiet. Discussions are emerging regarding Ethereum’s potential for growth, concerns about network congestion and gas fees, as well as anticipation surrounding the world’s first Ether staking ETF approval in Canada.</p> 
<p>The post <a href="https://coingape.com/eth-price-holds-firms-above-3700-despite-ethereum-etf-uncertainty-whats-next/">ETH Price Stable Above $3,700 Despite Ethereum ETF Uncertainty, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

ETH Price Stable Above $3,700 Despite Ethereum ETF Uncertainty, What’s Next?

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