The value of Ethereum, the second-largest cryptocurrency, surged by nearly 18% against the U.S. dollar in the past 24 hours.
This spike is attributed to growing optimism surrounding the potential approval of Ethereum Exchange-Traded Funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
Speculation about this approval has circulated widely on social media and forums. Analysts, such as Eric Balchunas and James Seyffart from Bloomberg, have increased their approval forecasts from 25% to 75%, further fueling positive sentiment among investors.
There are many possibilities of Ethereum surging to $7000 - $8000 at the end 2024.
Disclaimer : this is not a financial advice, DYOR.
