With the ETH ETF approved, I don't think market has fully internalized that yet
- ETH ETF approval is too close to BTC ETF
- Market participants do not have enough time to digest its impact yet
At the same time, we are underestimating to what ETF flows will do to $ETH:
- $ETH exchange levels are at lowest level since 2016
- LRT will accelerate the amount of staked $ETH
- $1 of flows into ETH ETF will have much larger effect on price compared to BTC ETF
- $ETH is much less inflationary than $BTC
Some stats from @muxprotocol:
- Last 7 days, $ETH clearly dominated the trades
- However in the last 24H we are seeing a resurgence for $ARB being traded dominating 42%. Followed by $BTC and $ETH
- Interesting here becuase $ETH been bleeding after the scam pump on a Holiday Monday to $3950 and today we are seeing $ARB upcoming.
- Clearly, we are now in the memesupercycle
Is an alt season coming?
#BTC #ETHETFsApproved #ETH #altcoins #HotTrends
