Ether (ETH) is nearing the $4,000 mark. This rise comes amid speculation that a recent ETF approval might spark a significant price rally. It is now only around 25% away from crossing its all-time-high.
At the time of writing, Ethereum was trading at around $3,922. Its trading volume has increased by 79.91%, reaching $17.95 billion. Its market capitalization is now approximately $470.41 billion.
ETH/USD, 24hrs Price chart, Source: CoinMarketCap
Arthur Cheong, the founder of DeFiance Capital, suggested in a May 26 post on X that ETH might even hit $4,500 before the actual launch of spot ETFs.
Also, crypto analyst Rekt Capital says Ethereum (ETH) must end the week above $3,956 to possibly reach over $4,000.
Historically, Bitcoin experienced a similar trajectory, soaring over 70% to new highs within two months following its ETF approvals. If Ether follows this pattern, it could reach new peaks around $6,000 by the end of July, as it has now got approval for the ETF.
Ethereum’s Layer-2 networks are also experiencing robust financial activity, with the total value locked approaching a record high of $47 billion. With a market cap of $469 billion, both crypto investors and major Ethereum stakeholders are optimistic about the potential surge in institutional investments following recent ETF approvals.
Will Ethereum cross its all time high after ETH ETF goes live?
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