Currently, other than liquidating long shorts, there have been no strong changes after the $ETH ETF news. However, in the long term, capital flows from Wall Street will massively flow into $ETH!
$BTC $ETH can be considered as the two main assets of the market, they are used for popular transactions no different from USDT and USDC!
$BTC $ETH price increase is equivalent to the capital flow to pump altcoins exploding!
It has now entered May 23 in the United States, which is the deadline for $ETH #ETFVanEck. If it is approved, the following things will be easy, if not approved, the possibility of the following things will also decline. So today it is likely that there will be a lot of news that greatly affects altcoins like the day #BTC☀️ ETF was approved. You should be careful with Long/Short and especially the possibility that there will be fake news from big sites.
2, #holographxyz announces the list of wallet addresses receiving the $ZRO airdrop.
3, Project #0xNomis confirmed the airdrop for LayerZero users via Score. The higher the score, the larger the $ZRO allocation you receive.
So the closer the $ZRO TGE date gets, the busier the ecosystem becomes. Coming soon, as said in the space session, there will be a wave of growth of Omnichain projects, especially projects that receive allocation from the#L0Foundation's RFP.
Tomorrow, $HLG will be listed on Bybit, Kucoin and Gate.io, this dessert is expected to explode
Grayscale and Fidelity have resubmitted their Ethereum spot ETF documents (19b-4) and both have removed the staking function, meaning these funds can only store ETH for customers, not stake that ETH. By now, ETF funds have also submitted their correction documents.
Below is a list of Ethereum Spot ETFs awaiting approval from Bloomberg.
Whether good news or bad news is coming, "Sell the News" can still happen. After #BTCETFS until now, the #BTCEco ecosystem is almost all divided by 3-4 from the top, from layer2 to defi, memecoin... It will be very good for the market if $ETH ETF is approved, more money will flow into altcoins. In the short term, there will be "Sell the News" but in the long term, the market will still be #Uptrend in accordance with the cycle in 2025.