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đ„đ„đ„Play it Safe and Buy Crypto: 3 Strong Tokens
Ethereum : Spot Ether ETF approval might boost this coin. $ETH
Bitcoin : Investors are thrilled about a Bitcoin halving. $BTC
Solana : This lesser crypto outperformed Bitcoin and Ethereum. $SOL
Bitcoin's price keeps the crypto market robust. Cryptocurrencies have improved since late March as equities fall on inflation fears. Bitcoin surged 2% to $71,000 in 24 hours after U.S. inflation jumped 3.50% in March. Bitcoin rose after the Dow Jones Industrial Average plummeted more than 400 points on concerns that interest rates may rise longer.
The Ethereum
Ethereum may spark a major event. The SEC has until May to accept or deny numerous spot Ethereum ETF filings. Ark Invest and BlackRock want to introduce spot Ethereum ETFs. This year, the Wall Street regulator approved spot Bitcoin ETFs, raising hopes for Ether ETFs.
In a client note, JPMorgan Chase analysts anticipate the SEC to approve Ethereum ETFs slowly. JPMorgan expects the SEC will allow Ether ETFs, but it may take investment companies suing and losing in court before the SEC does. This resembles Bitcoin ETF approvals. The price of Ethereum has risen 50% in 2024.
Bitcoin (BTC)
Bitcoin's April 20 halving occurrence is a big trigger. BTC rose beyond $70,000 before the halving. As enthusiasm grows around the halving event that will lower the pace at which new Bitcoin is issued, the biggest crypto's price has risen as high as $72,000 in recent days. This event has typically led to a bull market for Bitcoin.
A halving event reduces mining rewards by 50%, cutting supply and raising prices. Bitcoin's block reward is 6.25 BTC. It drops to 3.125 after halving.
Solana
Solana is tiny crypto. It trades about $175 per token. However, SOL is strong. Its price has risen 644% in a year, outpacing Bitcoin and Ethereum. Just recently, Solana eclipsed Ethereum as the leading smart-contract blockchain by trade volume. By March, Solana-based DEX trading exceeded $20 billion a day, up 65%.
