Ethereum has been weak relative to Bitcoin recently: Bitcoin is now 90% of its last high, while Ethereum is only 70%.
$ETH
One of the reasons for this is that the Bitcoin ETF was approved, and Grayscale's planned Ethereum ETF was originally expected to receive the final result of the SEC - either approval or rejection - on May 30. However, Grayscale took the initiative to withdraw the ETF request to give the SEC more time to evaluate Ethereum.
Unlike the disappearance of Satoshi Nakamoto of Bitcoin, Ethereum is still led by Vitalik. Therefore, Vitalik's actions have a great impact on the price of Ethereum, which may be one of the main reasons why the SEC temporarily disagrees with the passage of the Ethereum ETF.
So far, the blockchain narrative seems to still remain on the topics of the last round, including DEFI, NFT and blockchain games, as well as Bitcoin's second-layer solution. Even the DePIN project belongs to the last round of products, and it is still uncertain whether AI DePIN can be recognized by users. As for whether Ethereum can continue to lead the trend of blockchain innovation and application like last time, it is worth waiting and seeing. #AI爆发 #ETH #5月市场关键事件