Although many cryptocurrencies have lost value in the last 24 hours, Ethereum (ETH)’s weekly gains still exceed 13%.
According to CoinGecko data, Ethereum dropped yesterday before falling along with other cryptocurrencies such as Bitcoin. up to $2,698 rose.
The market rose after the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs. Selling pressure towards the end of the week moved downwards due to its effect.
With the price of ETH exceeding the $ 2,600 threshold, the portion of Ethereum in circulation becomes profitable, Up to 89.9% for the first time after 2021 rose. This could lead to a correction in ETH price if profit-taking begins.
André Dragosch, Head of Research at ETC Group, with the approval of spot Bitcoin ETFs Speculation that spot Ethereum ETFs will also be approved is growing stronger he thinks.
The article titled “This Rate Was Last Achieved in Leading Altcoin Ethereum was in 2021” was prepared by Selim Kuşçu and published on koinbulteni.com.