Big news! Ethereum spot ETF is about to be listed, and these three Ethereum altcoins may soar
According to the latest news, the Chicago Board Options Exchange (CBOE) will open trading for five Ethereum spot ETFs, including VanEck, Invesco, Fidelity, 21Shares and Franklin Templeton, on July 23. Grayscale Ethereum Spot ETF (ETHE) is also expected to be listed on the New York Stock Exchange Arca electronic trading platform on the same day.
Affected by this good news, the price of Ethereum broke through $3,500, with an increase of 11% last week. The market hype for Ethereum ETFs has begun, and a large amount of capital may flow into Ethereum to replicate the success of spot Bitcoin ETFs.
Three Ethereum altcoins worth paying attention to
With the listing of Ethereum ETFs, altcoins on the Ethereum chain are also expected to benefit, especially the following three:
Injective (INJ)
Recent performance: Up 2.12% in the past day, with a trading volume of $133.51 million. Up 33.36% in the past week and 24.21% in the past 30 days. Highlights: The Injective protocol has a strong growth momentum in the field of decentralized finance (DeFi), attracting a lot of investor attention.
Ethereum Name Service (ENS)
Function: ENS converts complex Ethereum wallet addresses into simple, user-friendly names, making it easier for users to use and remember. Recent performance: Despite the increased market price volatility, ENS prices continue to show positive trends. Potential: As the Ethereum ecosystem expands, the application scenarios and demand for ENS may increase further.
AltLayer (ALT)
Function: AltLayer is a system based on Optimistic Rollups, which obtains security from the underlying Layer1 (such as Ethereum) or Layer2 (such as Arbitrum and Optimism), and each Rollups is tailored for specific applications. Potential: AltLayer focuses on improving the scalability and performance of the Ethereum network, and is expected to become an important infrastructure for the future development of DeFi and DApp.
