Ethereum price has dropped below crucial support levels in the recent past, indicating further midterm weakness.
These transfers come in the wake of a significant settlement Genesis reached with New York State.
In addition to crypto trading, Futu is also licensed to offer Bitcoin and Ethereum exchange-traded funds (ETFs) to certified institutions.
If the market gains momentum, Ethereum might test its $3,300 resistance. A bullish shift could push ETH out of its descending channel and aim for $3,700.
The recent approval of spot Ethereum ETFs in several countries has been the epitome of mainstream adoption of Ether’s ecosystem in the past nine years.
According to security experts, this recent transaction may be used for further illicit activities.
The recent uptick in open interest highlights a return of confidence among traders, possibly influenced by significant developments like the approval of Ethereum ETFs.
Simplifying the denomination helps reduce confusion and enhances the user experience.
Schiff expressed his concerns about gold and silver, stating that they are not immune to market sell-offs.
The ongoing crypto correction led by Ethereum triggered nearly $300 million in liquidations, mostly involving long traders.
10X Research identified Ethereum as a weak link in the crypto market, noting that its fundamentals, including user growth and revenue, have been stagnant or declining.
Ethereum is also following the same trajectory that Bitcoin did after the approval of the spot BTC ETFs earlier this year.
The recent Ethereum (ETH) paper focused on a few areas that could help builders win blocks and make money.
With its ETHW initiative, Bitwise expressed excitement aimed at supporting the ongoing efforts of those dedicated to improving Ethereum’s security, scalability, and usability.
Analysts estimate that the demand for Ethereum ETFs could reach between $5 to $10 billion in the first few months of trading.