Ether (ETH) jumped 12.5% from July 12 to July 15, but failed to break through the $3,500 resistance. The correction to $3,400 occurred despite the SEC's approval of two new Ether spot ETFs. 🤔
Analysts are forecasting $5,000 by the end of 2024, but the derivatives market is not impressed. Volumes on Ethereum DApps grew by 7%, while competitors BNB Chain and Solana showed a decline.
Will spot ETFs make a difference? Time will show.