Ethereum spot ETF is coming soon!
Recently, the Ethereum (ETH) market has received good news, and the spot ETF has made new progress. This news not only boosted market confidence, but also led to a rebound in ETH prices, which have now broken through the $3,500 mark.
Eth is trending strongly. After all, there is a potential positive event for Etf. This price level is not only a reflection of market confidence, but also lays the foundation for the subsequent upward trend. Technically, after a period of adjustment, ETH finally ushered in a strong rebound.
The expected market of Ethereum spot ETF is about to start. The second-layer track has replaced the pledge track. Don’t be pessimistic in the bull market. Believe that every callback is a good opportunity. Embrace the Ethereum series!
The current market dynamics are as follows:
The fall in Bitcoin prices and panic selling of altcoins by South Korean retail investors in response to new regulations in July weighed on market sentiment.
The exchange rate of Ethereum against Bitcoin strengthened, the market focus was on the Ethereum ecosystem, and the U.S. stock market hit a new high for seven consecutive days.
Ethereum ecological chain projects including ENS, LDO, RPL, Pendle, CVX, MOG and PEPE have shown significant gains. These projects are mainly based on pledged old coins, and their chips are widely distributed.
RWA project ONDO, in collaboration with Drift on the Solana chain, showed an upward trend.
The gaming project UDS has surged, with its market cap increasing 3 times, and its team comes from PayPal and Animoca, with a global market cap of $200 million.
Bankruptcy projects such as FTT and USTC have rebounded. FTX victims are seeking to return $8 billion in assets directly to customers instead of distributing them in the order of bankruptcy property, with FTT token holders being last in the bankruptcy compensation.
Is there any hope for the trapped copycats to make a profit?
1. There is a serious differentiation among copycats. Some have seen a significant increase, but there has been no general increase.
2. High FDV and low circulation tokens are criticized. The essence of the market choosing memes and local dogs for hype
Therefore, the valuation logic of cottage is being redefined, and how to define it in the future may require more K-lines in the market.
Ethereum price performance
The recent pullback of Bitcoin and Ethereum is actually not large, and they have been in a volatile trend. Judging from the current market trends, stop-loss signals have appeared at a small level.
Small-level trends will evolve into large-level trends, so the next trend will most likely resume a new round of rising prices.
As the market trend has reached its current position, the market trends of sectors and individual currencies have clearly been diverging.
This is why, even though the prices of Bitcoin and Ethereum have risen about four times from their lowest point to their current levels, many people are still losing money, and they can’t help but wonder whether there will be a bull market next and whether they can get their money back.
I have analyzed in an earlier article that this round of bull market will most likely be a slow bull market, with rotation among different sectors. The difference from the previous bull markets is that it may be difficult for all coins to rise at the same time.
This will bring higher requirements on our selection of targets, entry timing, and execution of trading strategies.
$PENDLE
Pendle is a DeFi platform that allows users to trade the future returns of their assets independently of the assets themselves. The protocol has high liquidity, reflecting a strong market cap. Its recent growth and increasing user base bode well for a bright future.
➢ Price: $5.63
➢ Market value: US$846 million
$ENS
ENS is a leader in the field of domain name services. Even Vitalik Buterin personally supports it. Its rise against the trend is just an appetizer now. After the Ethereum ETF is launched, ENS should usher in a real explosion.
➢ Price: $26.65
➢ Market value: US$839 million
$SSV
SSV is a high-performance, secure and fully decentralized Ethereum staking infrastructure that has been jointly invested by top institutions such as CB Exchange and DCG, and has a strong background.
➢ Price: $39.89
➢ Market value: US$389 million
$FLOKI
FLOKI is a token inspired by Elon Musk's Shiba Inu. With its unique community governance model, FLOKI has become a dark horse in the cryptocurrency field. Its core team always represents the interests of the community, making FLOKI unique on the Ethereum network. With the continuous expansion of the community and the strengthening of marketing efforts, FLOKI undoubtedly has great growth potential.
➢ Price: $0.00017
➢ Market value: US$1.622 billion
$UNI
Uniswap is a decentralized exchange (DEX) based on Ethereum that uses an automated market maker (AMM) model, allowing users to freely exchange ERC-20 tokens without an intermediary. Since its launch, Uniswap has quickly become an important part of the DeFi field.
➢ Price: $10.34
➢ Market value: US$6.03 billion
Solana is about to apply for an ETF!
Solana (SOL), the U.S. blue-chip public chain known as the "Ethereum killer", has rebounded and soared. Recently, multiple sources reported that Blackstone Group has begun applying for a spot in the Solana ETF.
BlackRock plans to file for a Solana ETF in July. The Solana ecosystem is about to take off, and this may be a good time to research promising $Sol-based cryptocurrencies for potential investments.
$TREES
As a meme coin that has achieved the outstanding achievement of "listing on Binance in three days", the rapid rise of Book of Meme (BOME) is expected to reach a new historical high (ATH), which has attracted widespread attention from the market. BOME is a meme coin based on Solana that has achieved great success since its inception.
➢ Price: $0.0087
➢ Market value: US$598 million
$PYTH
Pyth Network is an innovative decentralized oracle that delivers data from more than 95 data providers to 150 protocols and more than 40 blockchains.
➢ Price: $0.31
➢ Market value: US$1.119 billion
$RAY
RAY coin is a DeFi token of the Solana ecosystem. It has certain first-mover advantages. Its role is to introduce new and existing projects and protocols into the ecosystem.
➢ Price: $1.51
➢ Market value: US$391 million
Which valuable coins have reached the bottom of their value charts during this round of market crash?
FET: This is an AI concept project we have discussed before. It adopts the uPoW mechanism and is built by a star team. It has fallen from its highest point of $3.4 to $1.2, a drop of 70%. However, it is worth noting that FET will merge with the three giants Ocean and AGIX to form a new token ASI. After the strong combination, the subsequent rise must not be underestimated.
RNDR: As the previous 100-fold coin, the leader of the depin track favored by the US market, its performance is jaw-droppingly strong. It fell from a high of $13.4 to $7.2, a drop of more than 50%.
AR: As the second largest player in the storage market, its performance has surpassed the leading player FILE. It has fallen from its peak of $48 to $24, a drop of 50%.
NEAR: As the leader of sharded public chains, it focuses on high-speed public chains. Its highest point was $9, but it is currently only $4.7, a drop of more than 50%.
AKT: It is also a strong player in the Depin track and has performed exceptionally well this year. It fell from a high of $6.4 to $2.7, a drop of more than 60%.
Ordi & Sats: The leaders of the Inscription project, this round of decline is quite fierce. Ordi fell from a high of $89 to $38, a drop of more than 60%; and Sats fell even more sharply, from a high of $0.0009 to $0.00017, a drop of more than 80%. As for whether they can rise again, I think the possibility is still quite high.
Although these projects have experienced a sharp correction, there are still many opportunities in the future. The adjustment period is a good time to make arrangements, and investors should maintain confidence and wait for a rebound.
