Despite Ethereum ETF Approvals, 'Altcoin Season' Remains Far Off
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While the U.S. Securities and Exchange Commission (SEC) has approved several spot ethereum exchange-traded fund (ETF) 19b-4 filings, and ether alongside numerous digital assets have experienced double-digit increases over the past week, the much anticipated ‘altcoin season’ has not yet arrived.
In fact, according to the Altcoin Season Index, the likelihood of such a season has diminished over the past 30 days.
‘Altcoin Season’ Remains Elusive Even with Ethereum ETF Greenlight
This week, ethereum (ETH) has increased by over 20% against the U.S. dollar.
Additionally, other crypto assets like DOGE, UNI, PEPE, and ETC have seen double-digit gains against the greenback. However, on April 26, 2024, the Altcoin Season Index, featured on blockchaincenter.net, was higher than it is today.
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