Ethereum ETF Seems Unlikely in May, Switch to BlockDAG (BDAG), GRT Eyes Breakout

GRT (Chart) price recently rose above the 23.60% Fibonacci level to $0.30, indicating an uptrend with the potential to reach $0.50. Following the late 2023 uptrend and support from the 50-week EMA, GRT’s momentum is strong. Its market cap currently stands at 4,226,421,165 and the current trading price is $0.4488.

GRT price action, supported by the recent increase in trading volume, indicates that the upward trend will continue and will likely reach $1 in the long term. Following the breakout of $0.30, the main targets are $0.45 and $0.58, while the bullish trend points to a potential breakout to $1 in the coming months.

The chances of Ethereum ETFs being approved by May have dropped to 35%, according to senior Bloomberg ETF analyst Eric Balchunas. The main reason for this pessimistic outlook is that the SEC is communicating more with prospective fund issuers, especially with only 73 days until the deadline. Balchunas also noted that SEC Chairman Gary Gensler views Ethereum as a security rather than a commodity like Bitcoin. Ethereum ETF approval He pointed out that this constituted another important obstacle in front of him.

Despite the bleak outlook, some remain cautiously optimistic and argue that rejection could provide long-term benefits by preventing the SEC from arbitrarily opposing other cryptocurrencies. However, major investment banks and market makers have also expressed doubts about the approval of the Ethereum ETF by May.

BlockDAG (BDAG) quickly gained attention in the pre-sale market after its launch video was released at Tokyo Shibuya Crossing. The video introduced BlockDAG’s vision and value proposition, which includes BDAG coins, the BlockDAG crypto payment card, and crypto mining hardware under the name X series.

Enabled through a partnership with a leading Banking-as-a-Service provider, the BlockDAG card supports transactions in BDAG as well as other major cryptocurrencies at over 38 million points of sale worldwide.

BDAG cryptocurrencies can be mined through BlockDAG’s mining platforms, offering an attractive passive income path for users, with potential daily earnings ranging from $1 to $10. Finally, BlockDAG’s miners are designed with sustainability in mind, aiming to overcome the key challenge in the crypto mining industry.

In response to overwhelming interest from early investors and $4.4 million quickly raised, BlockDAG announced a $2 million mega giveaway shared by 50 lucky community members. To participate in the giveaway, follow BlockDAG’s social media channels, submit your wallet address, increase your chances by completing all tasks, and bring your friends for additional entries.

In summary

in May due to SEC’s lack of communication Ethereum ETF Doubts about its approval are growing. Meanwhile, GRT price is entering an upward trend and forecasts suggest it could reach $1 in the long run.

BlockDAG (BDAG) attracted the attention of investors in the pre-sale space with its keynote in Tokyo and attracted a large wave of investment in the pre-sale of the project.

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Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVy

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