Ethereum Price Surges to $3,700 on US ETF Approval Hopes
Ethereum's price has surged, reaching $3,700, as the likelihood of an Ethereum ETF approval in the US increases. The SEC's request for 19b-4 filings and analysts' predictions suggest imminent approval, which could further boost Ethereum's price and lift other cryptocurrencies.
Ethereum's price has seen a remarkable rise, jumping by around $700 in a short period, its largest sudden jump. This surge comes as the probability of Ethereum ETF approval has increased to 75 percent, up from 25 percent. The SEC's recent request for 19b-4 filings from applicants has further fuelled speculation about an impending approval.
This price increase benefits not only Ethereum but also coins within its ecosystem. Uniswap (UNI), Lido (LDO), and Arbitrum (ARB) have all seen gains as Ethereum's price reaches approximately €3,400. In the last 24 hours alone, Ethereum's price has increased by around 13 percent, and it has surged by around 20 percent in a single day.
If approved, the Ethereum ETF could cause Ethereum's price to rally further, potentially lifting other cryptocurrencies along with it. While there's no specific information about a provider submitting a 19b-4 application, the signs point towards a positive outcome for Ethereum and its ecosystem.
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