The approval of the ETH spot ETF is a 180-degree reversal in the market. From the previous low probability of approval to the official approval in the early morning of May 24, this transformation is really surprising and also shows the infinite charm of the cryptocurrency market, like a wonderful Hollywood blockbuster. This approval is not only a glorious moment for Ethereum, the "king of all chains", but also a major positive for the entire crypto market.
The approval of the Ethereum ETF indicates that the price of ETH/BTC may usher in a wave of increases, which may trigger a round of altcoin season. With the approval of the Ethereum ETF, altcoins are likely to get rid of the haze, and some high-quality projects may take the lead in starting to rise. Good days are coming, so hurry up and hold the chips in your hands to prepare for the big bull market. Remember that the profits brought by short-term operations may be insignificant, and the focus should be on the long-term trend. (q1un homepage)
What impact will the official approval of the ETH spot ETF have on the cryptocurrency market?
1. Just a few days ago, the price of ETH soared from $2900 to $3900, an increase of 1000 points, which is the early realization of the positive news of the ETF approval. Although the spike in the early morning was a bit thrilling, it was actually expected. After the ETF is passed, the price of ETH may experience a period of shock adjustment, but this will not change the bright future prospects of ETH, which is why there is a spike instead of a direct callback.
2. Standard Chartered Bank's forecast for the future of Ethereum (ETH) was reaffirmed after the ETH spot ETF was approved, and they expect the price of ETH to reach $8,000 by the end of this year. According to a report shared by Geoffrey Kendrick, head of cryptocurrency research, with CryptoSlate, recent market dynamics reflect increased investor optimism and increased market activity.
Several projects worth paying attention to in the Ethereum ecosystem:
The OP project has attracted a large number of excellent projects and capital by forming a super chain ecosystem, demonstrating its unique advantages.
The ARB project is known for having the highest TVL (total locked value) and the largest number of Dapps.
ETHFI is the leader in liquidity re-staking and is expected to become a benchmark for DeFi services. Through its unique non-custodial and decentralized staking solutions, it enhances the security of the network and provides users with an efficient way to grow their crypto assets.
Project: $OP & $ARB & $ETHFILayer2 protocols play a vital role in Ethereum’s (ETH) journey towards its vision of becoming a global computer. Their mission is to support the thriving Ethereum ecosystem by providing high TPS (transactions per second) and low GAS (gas fees).
The advantage of the OP project lies in the super chain ecosystem it has built, which has attracted the attention of a large number of excellent projects and capital.
The ARB project is known for having the highest TVL (Total Value Locked) and the largest number of Dapps.
ETHFI is a leader in liquidity re-pledge and is expected to become a model for DeFi services. Its unique non-custodial and decentralized staking solution enhances the security of the network and provides users with an efficient way to grow their crypto assets.
How to deal with future market trends?
At present, the two hottest sectors in the market are memes and Ethereum. In the meme sector, PEOPLE and PEPE are undoubtedly the most popular. If you are looking for popularity, you can allocate some meme coins appropriately; as for Ethereum, you can adopt a long-term holding strategy.
As the weekend approaches, the market is likely to be dominated by shock adjustments. After the ETH ETF is approved, there may be a short-term negative situation of market crash, but in the long run, the market is still bullish on Ethereum. For ETH, you can choose to buy a 10% position at a suitable point, adopt a long-term holding strategy, and it is optimistic about breaking through the previous high of $4,800 in the future.
The current recommended position ratio is about 50%, and the recommended currencies include: Ethereum (ETH), SOL, BNB, AR, FTM and Matic.
