Mixed Market Response as Ethereum Prices Stagnate Below $4,000 Amid ETF Approvals
Ethereum Fails to Break $4,000 Barrier After SEC's ETF Approvals
Despite the US Securities and Exchange Commission (SEC) granting historic approvals for eight Ethereum-based exchange-traded funds (ETFs), Ethereum has not breached the $4,000 mark.
Ethereum ETFs: Sell the News?
Ethereum, ranking second in market capitalization among cryptocurrencies, recorded a modest 0.65% increase in the last 24 hours. Over the previous week, however, it gained more than 28%, reflecting some market optimism. Despite these gains, the anticipated push past the $4,000 threshold has yet to materialize.
Ethereum Price Performance.
The reaction within the broader Ethereum ecosystem was mixed. Pepe, for instance, reached a new all-time high of $0.00001576 immediately following the ETF approvals but then declined by over 8%. Arbitrum (ARB) also fell more than 3% after its initial increase. Conversely, Lido DAO (LDO) bucked the trend, advancing over 12% in the last 24 hours.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.