Standard Chartered Believes ETH Will Hit $4,000 Following SEC Approval of ETF by May 23
According to Standard Chartered, an ETH ETF approval will come from the SEC in May, and could possibly pump ETH price to $4,000.
Focus on the ecosystem surrounding Ethereum, the second‑largest network by market cap. Get insights into network upgrades, smart‑contract innovations, DeFi and NFT trends, staking developments and other Ethereum news today.
According to Standard Chartered, an ETH ETF approval will come from the SEC in May, and could possibly pump ETH price to $4,000.
The crypto industry eagerly anticipates the official mainnet for Dencun’s upgrade that will potentially reduce the outrageous gas fees associated with Ethereum.
After a year of underperformance in 2023, the ETH/BTC dominance will grow this year on the backdrop of Dencun upgrade and other contributing factors within the Ethereum ecosystem.
The crypto community is discussing the chances to see the spot ETH ETF applications approved in May 2024.
The imminent approval of Bitcoin spot ETFs in the United States is expected to pave the way for more fund managers to apply for Ethereum spot ETFs in the near future.
Blockchain analytics firm Nansen reports that almost a third of the ETH in the pending withdrawal queue belongs to Celsius, totaling 206,300 ETH valued at approximately $468.5 million at current prices.
In a new blog post, Vitalik Buterin noted the loss of the original web3 values, the ways that the community can get back on track, and the progress that Ethereum has made so far.
Buterin emphasized that these proposals provide credible ways to limit the number of signatures without compromising security or showing favoritism.
The recent gains of Ether mean that its price is now up 15% in one month compared to SOL’s 82%.
Anyone with the will and the technical ability is free to run their own Ethereum validator and connect to SSV.
Coinbase said the launch of the international digital asset trading platform is part of its move for global expansion driven by regulatory uncertainties in the United States.
Buterin believes the enshrined zkEVM method, which returnes functions to L1, is the next course of action as “light clients” get stronger.
JPMorgan analysts predict that Ethereum will see massive growth in 2024, mostly thanks to its upcoming EIP-4844 upgrade. This upgrade will introduce improved sharding methods.
Santiment revealed that despite a price drop, Bitcoin can reach $50,000. Altcoins have already embarked on a strong surge with Ethereum and Solana leading the show.
The US SEC has delayed its decision on converting Grayscale’s ETHE product to a spot Ethereum ETF by another 45 days with the next hearing on January 25, 2024.