Lanyn's Profile | Binance Square

--

See original

🔸 Has Altcoin season arrived or is it very close?

Ethereum has shown strong bullish momentum, attracting gains of around 25% over the past 3 weeks, prior to the announcement of the ETH Spot Exchange Traded Fund (ETF). Historically, as the price of crypto assets shows promising movements, it is considered a precursor to larger trends in the altcoin market. Following the recent price fluctuations and developments surrounding ETH, Our Crypto Talk believes that the market may be on the brink of an altcoin season. According to this channel, if Ethereum maintains its current trend and stabilizes above $3,800, the season could start earlier than expected.

Additionally, anticipation is high for a possible season following the approval of Ethereum spot ETFs. Last week, the US Securities and Exchange Commission (SEC) approved all eight ETH spot ETF applications submitted by the world's largest digital asset managers.

Considering the impact of the products on Bitcoin once approved, the channel can predict a similar scenario for ETH, which could attract the attention of investors to altcoins, from That triggers the money season instead. However, due to the complexity of the listing process, it can take several months for the full effect to develop.

So far, Our Crypto Talk notes that the market seems more optimistic than ever about ETF adoption, which suggests a bright future for the crypto market. Additionally, once ETH adopts spot ETFs, more altcoins, like Solana (SOL), will join the train.
#near