On the first day of listing of the Ethereum spot ETF, its trading activity was significantly lower than the first-day performance of the Bitcoin spot ETF, reaching only 23% of the latter. There are multiple deep-seated reasons behind this phenomenon:
Market focus effect: As a pioneer, the approval of Bitcoin spot ETF attracted widespread attention and heated discussions in the market, thus attracting a large number of investors' attention and funds when it was listed. In comparison, the launch of Ethereum ETF was a bit of a "latecomer" and failed to immediately achieve the same level of market popularity.
Difference in market size: Before the Ethereum spot ETF was approved, the Bitcoin market had already established a larger scale and deeper market foundation, which enabled the Bitcoin ETF to attract more transactions by relying on a larger market capacity when it was launched.
Product features and appeal: Although Ethereum has its unique blockchain technology and a wide range of application scenarios (such as decentralized applications DApps), the lack of value-added mechanisms such as staking in spot ETF products may weaken its appeal to some investors seeking additional returns. In contrast, Bitcoin, as the traditional "digital gold", has more prominent financial asset attributes and is more widely associated with the financial market.
Impact of external events: The frequent transfers in the recent Mentougou incident have indeed affected the market's investment sentiment to a certain extent, especially for those investors who are cautious about the stability of the cryptocurrency market. However, in the long run, the impact of such events is expected to be temporary, and the market will gradually digest and restore confidence. For investors who intend to invest in the cryptocurrency market, if the market continues to pull back, it may be a good opportunity to build positions in batches and optimize the layout.
In summary, the relatively low trading volume of Ethereum spot ETF on the first day is the result of multiple factors. However, this does not mean that the future prospects of Ethereum or its ETF are bleak. On the contrary, with the improvement of market awareness, the improvement of product features and the improvement of the external environment, Ethereum ETF is expected to show stronger growth potential in the future.
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1. ENS
ENS, as the core of the distributed naming system in the Ethereum ecosystem, has recently become the focus of market attention. Since the beginning of the year, the price of ENS tokens has continued to hover around an important resistance area, and has failed to successfully break through this limit despite multiple attempts. However, the latest market dynamics reveal positive signals, indicating that ENS may be about to usher in a strong round of rising prices.
Currently, the price of ENS has steadily entered a key resistance range between $27.54 and $29.26. Although it has failed to effectively cross this threshold in the past, the latest technical analysis shows that the bulls are gradually accumulating energy and preparing to launch a new round of offensive. Specifically, the relative strength index (RSI) has rebounded strongly from near the average line, showing the strengthening of market buying power; at the same time, the Bollinger Bands indicator also indicates an increase in market volatility, and is about to turn from the recent convergence state to expansion, which is often an important precursor to an imminent price breakthrough.
Based on the above technical analysis, the market generally expects that ENS tokens will have a healthy upward journey in the future, with a price target of $35, which means a potential increase of about 20%. Many investors are paying close attention to this development and are ready to seize this possible market opportunity.
2.LDO
Since the beginning of the year, LDO prices seem to be shrouded in a persistent bearish sentiment, and despite occasional signs of rebound, the overall trend reversal has not yet been confirmed. The bulls are actively seeking to turn the situation around, however, any slight bearish pressure may become an obstacle, keeping the price constrained by the current downward trend.
Recently, LDO's rebound attempt has not caused significant waves on the technical level. All indicators remain in the neutral zone and do not clearly point to a clear trend direction. It is worth noting that the RSI indicator is hinting at the possibility of forming a new, relatively lower high, which is usually regarded as a signal of weakening market momentum. However, the Ichimoku Cloud, on the other hand, is showing a glimmer of optimism as its clouds are close to forming a potential bullish crossover, leaving a bit of room for future price increases.
Based on the above analysis, LDO prices seem to continue to fluctuate in the current mode and may reach the average volatility level within the channel, which is around $1.52 in the short term. This key price level may become a touchstone for the market. If it can be effectively broken through, it may trigger a stronger subsequent upward trend and bring investors a long-awaited turnaround. Therefore, although the current situation is still stalemate, market participants should remain vigilant and pay close attention to subtle changes in price dynamics and technical indicators to capture possible trading opportunities.
3.JASMY
In the past few months, JASMY coin has shined on the stage of cryptocurrency. Its market value has achieved an astonishing leap of more than 320% in just one year, successfully ranking among the top 63 in the global cryptocurrency market value rankings, with a market value of approximately US$1.363 billion, demonstrating its strong market potential and wide recognition among investors.
At the technical analysis level, the price trend of JASMY coin is firmly supported by the EMA 50, a key indicator that continues to provide stable upward momentum for its price. However, at the same time, the RSI (Relative Strength Index) unexpectedly slipped into the neutral zone, showing a subtle change in market sentiment and a balance of power between buyers and sellers in the short term. More interestingly, the RSI average on the 1D time frame shows potential signs of bearish convergence, indicating that future price movements may be full of variables, and investors need to be cautious.
Looking ahead, the market generally expects that the listing of Ethereum ETF will inject new vitality and momentum into the entire cryptocurrency market. Driven by this optimistic expectation, JASMYCoin is expected to usher in a breakthrough moment in its price trend. Once the market picks up and resumes its upward momentum, the currency is expected to strongly break through the existing resistance level and attack the high of $0.03850, bringing rich returns to investors. Therefore, for investors who are concerned about JASMY coin, now may be a good time to plan for the future and wait for good news.
4.ETC
In the past few months, the price of ETC has encountered an unprecedented bearish storm, with its value plummeting by more than 50%, and the market atmosphere was once extremely pessimistic. However, at the beginning of this month, despite a bad start, ETC showed tenacious vitality. The price gradually stabilized and showed a significant recovery trend. Technical indicators also turned positive, indicating that a healthy rising cycle may begin in the future.
ETC's price trend has experienced a fierce parabolic rebound, rushing straight to the neckline area. Unfortunately, it failed to break through the two key resistance levels of $37.5 and $40, and then entered a downward parallel channel. However, it is worth noting that the price has recently received effective support at the lower edge of the channel, accompanied by a series of consecutive bullish candlesticks. These positive signals indicate that ETC's bearish trend is quietly changing.
Looking further at the technical side, the MACD indicator is about to usher in an important bullish crossover, which undoubtedly adds more confidence to ETC's upward proposition. Therefore, if this week's trading can end successfully with a bullish attitude, then we have reason to believe that ETC will take advantage of this opportunity to challenge higher-level resistance levels and start a new upward journey.
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