đ Ethereum (ETH), the world's second largest cryptocurrency, has experienced a significant price increase following rumors that the US Securities and Exchange Commission (SEC) may soon approve spot Ether exchange-traded funds (ETFs). This news fueled the bullish trend in the cryptocurrency market, with Ethereum's price rising by more than 22% in a matter of hours. đ
The cryptocurrency market showed significant gains, with the price of Ethereum rising 21.93% to $3,796.83 and Bitcoin (BTC) reaching $70,338.38. Reports that the SEC may soon approve Ether ETFs contributed to the price increase.
The main reason behind Ethereum's significant price increase is increasing speculation that the SEC is close to approving spot Ether ETFs.
There has been a sharp increase in Ether Futures open interest and funding rates, indicating increased investor interest and bullish sentiment in Ethereum.
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