News - After Bitcoin ETF approval: Ethereum up ten percent, altcoins up 30 percent

By Luc Vesters

After Bitcoin ETF approval: Ethereum up ten percent, altcoins up 30 percent

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After Bitcoin ETF approval: Ethereum up ten percent, altcoins up 30 percent

The Bitcoin spot ETF brings positive numbers among altcoins. The price of the world's largest cryptocurrencies has reacted cautiously so far. Ethereum rises by more than ten percent. And with it: all the major altcoins that go with each other. Some of them explode even more strongly after approval. Strike tokens like Lido DAO or Rocket Pool are up 20 percent, Layer 2 solutions like Arbitrum and Optimism are up more than 30 percent.

The reason: There were also last year ETF-applications filed for Ethereum. So far, unlike Bitcoin and other altcoins, Ethereum has not recovered as much from the crypto market crisis. Currently, it is up only 90 percent year-on-year.

If only one percent of the money of asset managers to an Ethereum ETF would flow, the stock price would rise to more than $6,000. The current share price is $2,500 with a market capitalization of $300 billion. The all-time high was nearly $5,000 and was reached in November 2021.

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