Ethena

James

<ul class="list-ic vertical">
 <li>1 <a>Altcoins have surpassed their supply zone and are taking support from dynamic supports of 20-day and 50-day EMAs.</a></li>
 <li>2 <a>5 potential ETF issuers have submitted their amended 19B-4s.</a></li>
 <li>3 <a>The SEC have been expected to make a decision on the first spot ETH ETF, which is Vanex ETF on May 23rd.</a></li>
</ul>
The James Seyffart on X tweeted about the 5 potential least ETF issuers that have submitted their amended 19B-4’s. These are VanEck, Fidelity, Invesco, Ark, and Franklin all of these have been submitted via CBOE.
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 <blockquote class="twitter-tweet">
 UPDATE: It's happening. We have at least 5 of the potential <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> ETF issuers that have submitted their Amended 19b-4's in the last ~25 min. Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, &amp; Franklin all submitted via CBOE. <a href="https://t.co/pHGt8iRWi8" rel="noopener noreferrer nofollow">pic.twitter.com/pHGt8iRWi8</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1793039305125790105?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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In the case of an ETH ETF approval completed successfully, this could be much bigger for altcoins. As per the overall altcoin market update over the last 24 hours, many altcoins have now been responding positively to the ETH ETF.
Ethereum ETF, which many people did not think was going to get approved until 2025, now had a massive boost in its chance to be approved, with Eric Balchunas and James Seyffart increasing their odds of an Ethereum ETF approval to 75% from the previous 25%.
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 <blockquote class="twitter-tweet">
 Update: <a href="https://twitter.com/JSeyff?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@JSeyff</a> and I are increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they'd be denied). See… <a href="https://t.co/gcxgYHz3om" rel="noopener noreferrer nofollow">https://t.co/gcxgYHz3om</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1792636523050906102?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 20, 2024</a>
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Since the major probability lies in favor of an ETH ETF getting approved, the SEC to give a decision, has been expected to make a decision on the first spot ETH ETF, which is Vanex ETF, on May 23rd.
<h2 class="wp-block-heading" id="strong-what-could-happen-to-ethereum-s-price-after-the-approval-strong">What Could Happen To Ethereum’s Price, After The Approval?</h2>
The BTC ETF was approved on January 10th, and in the 63 days following the BTC spot ETF approval it rallied nearly 75% to $73,500. 
<a href="https://in.tradingview.com/chart/ETHUSD/S7ev9n9a-Depends-On-ETH-ETF-Approval-Will-It-Go-parablic-Like-BTC/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
Based on BTC’s reaction to the BTC ETF approval, if the ETH ETF gets approved by the SEC, and on applying a similar possible scenario, if this playbook repeats the same percentage upside that Bitcoin exhibited after its approval, this would take <a href="https://www.thecoinrepublic.com/2024/05/21/will-ethereum-etf-attract-value-money-or-is-it-just-hype/" target="_blank" rel="noopener noreferrer nofollow">Ethereum </a>to a price at $6,446 in 63 days time.
<h3 class="wp-block-heading" id="strong-investors-will-keep-an-eye-on-altcoins-strong">Investors will keep an eye on Altcoins..</h3>
At press time the PEPE has traded at $0.00001373 and has gained this week a surge of 26.08%, Doge at $0.16900 with a surge of 16.03% this week, and Ethena at $0.8401 with a 21.20% this week. These assets have taken support from dynamic supports of 20-day and 50-day EMA, and other metrics are bullish, as well. 
<a href="https://in.tradingview.com/chart/ENAUSD/YL2X35tz-he-ETF-gets-passed-by-SEC-these-altcoin-could-show-a-massive/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
Therefore, if the ETF gets the SEC’s green light, these altcoins could rally for higher targets. Where Pepe could go for a $0.00002000 round number target, Dogecoin could reach $0.22000, and Ethena could touch the $2.00 mark.
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 <blockquote class="twitter-tweet">
 Bitcoin ETF – APPROVED<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;"> Ethereum ETF – SOON The Ethereum ETF has switched from a 10% likelihood to a 75% chance overnight. If approved, the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> Spot ETF makes the following projects worth watching. 2024 ETH-Beta Watchlist: • <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> – New King of Meme • <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PENDLE</a> – Top… <a href="https://t.co/cSexLJroDr" rel="noopener noreferrer nofollow">pic.twitter.com/cSexLJroDr</a>— Layergg (@layerggofficial) <a href="https://twitter.com/layerggofficial/status/1792757675845181499?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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According to the tweet from Layergg on X platform 2024 Ethereum-Beta Watchlist includes; PENDLE, METIS, ETHFI, ALT, REZ, MKR, OP, ARB, LDO, ETC, ENS, SSV, and UNI.

Ethereum ETF Approval Will Put These Altcoins On Steroids!

목차

Thecoinrepublic.com

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