May 23: VanEck Ethereum ETF approval deadline

Positive news about the ETH ETF has made the market strong, this is something everyone can see. However, it is reported that in order for ETH ETF Spot to be listed, it is necessary to pass both 19B-4 and S-1 applications. In the case of the BTC ETF, both applications were approved at the same time and the BTC ETF Spot was trading just a few days later. The approval of $BTC was already factored into the price, leading to short-term selling on the news for two weeks before continuing to grow thanks to ETF inflows.

With ETH, I have not seen ETH outperform BTC long enough to say that ETH adoption is already factored into the price; come May 23, the SEC could still reject or just approve the 19B-4 filing without reviewing the S-1 until next quarter, causing $ETH and#altcoinsto continue falling in price. During the last month, when the market did not fluctuate much, that was the right time to buy or DCA, not when the price increased. For long-term HODL, patience and good positioning are required, so avoid FOMO.

Summary of trends to pay attention to before ETH ETF:

Following rumors that the ETH ETF has a high possibility of approval, the ETH/BTC pair has begun to show ETH outperforming BTC after a long period of price suppression. If the ETH ETF is actually approved in the coming days, the price could increase sharply to create a new ATH, similar to when the BTC ETF caused the price of $BTC to peak. Projects closely related to Ethereum's cash flow will also see the strongest price increases. Priority is as follows:

1/ Layer 2: $OP $ARB $METIS $STRK

2/ Restaking: $ETHFI $REZ

3/ LSD: $LDO $RPL $SSV

4/ LSD-Fi: $PENDLE $MAV

In addition, some leading coins in the Ethereum system will also benefit such as:

$UNI (DEX)

$PEPE (Memecoin)

$ENA (Stablecoin)

$ENS (Domain, Vitalik shill)

Please pay attention to have appropriate plans. Personally, I think all of the above coins are worth holding or trading short-term.

Please support me, and see you in the next article.#uptrend#hold2fly #hold2die