At around 5 a.m. Beijing time on May 24, the U.S. Securities and Exchange Commission approved the 19b-4 forms of eight spot Ethereum ETFs. The eight issuers were Grayscale, Bitwise, iShares, VanEck, ARK & 21Shares, Invesco & Galaxy, Fidelity, and Franklin.
It’s finally over, but this is only the approval of 19b-4. There is no clear statement on S-1/S-3S. At present, the front end of the SEC has not been updated, but it has been seen on the back end, so 19b-4 has definitely been approved, but this does not mean that the ETH spot ETF can be listed, because S-1/S-3 is still required. But don’t worry about this! Because 19b-4 has passed, it means that the ETH spot ETF has definitely passed, and it will be listed sooner or later.
So what do you think of the ETH ETF’s 19b-4 filing approval?
Simple understanding: We got the marriage certificate, but haven’t held the wedding yet!
It is good news, and it is only a matter of time before it is officially listed! Political game + election year + capital support + economic cycle = big bull market. Expect ETH to lead the cottage industry to be happy.
In addition, Grayscale has officially approved Ethereum, but it cannot be traded yet! You don’t have to worry about Grayscale’s risk of dumping the market for now. However, once Grayscale officially opens Ethereum trading, Grayscale may dump the market based on market conditions and its own strategies.
Ethereum spot ETF may be listed and traded on the exchange in July or August, so the transaction will be officially launched to cash in the shipment, then reduce the position and wait for a few days of decline to layout the leading currency of the $Sol sector, because after the Ethereum spot ETF is approved, the next crypto spot ETF will be: SOL
After the dust settled on ETH, the situation became clearer, and the altcoin market will also start to explode in some areas. Yesterday, Altcoin obviously fluctuated slightly with Ethereum, and the insertion was not very strong. Now the market is basically robbed of traffic and funds by Dragon One, Dragon Two and meme coins, mainly pepe and people!
People, which Lao Chen mentioned yesterday, has soared and hit a new high again. This year is the year of the US election, which is good for People. It has been continuously fomo'd by the market. The next step is to hit point 1. People from both parties in the United States support cryptocurrency and embrace memes because their concepts are most consistent and they are not in a hurry to get off the train.
Other copycat dog houses are making every effort to make something happen, otherwise all the traffic will be sucked away by the meme. So the spring of copycats will come soon, so be patient!
4 Most Potential Altcoin Worth Watching
AVAX
Avalanche is a high-performance, interoperable ecosystem built for decentralized financial applications and enterprise blockchains. The Avalanche network supports the full suite of Ethereum development tools with sub-second transaction confirmations and can operate millions of network validators simultaneously.
Avax is a public chain that I will pay more attention to in the future. The resonance between the daily level and the channel pressure, the current retracement to the channel median support test, 35 is the key support, if it is not broken, the daily pressure will break through and seek a new high, if it falls below, you can continue to enter the market at the lower edge of the 32 28 channel.
FLOKI
The copycat season has arrived, MEME will always be the best target, this round of retail investment has stopped buying VC coins, every time Pepe pulls up the price, Floki will follow suit. Pepe’s first bottom pull has now broken through a new high, but Floki has not yet reached a new high. It seems that it is about to break through the key resistance. Once it breaks through, the new high will come. In addition, Floki just destroyed about 1.5% of the total tokens yesterday. This amount of destruction is very large. In history, every time Floki has a major destruction, it will explode.
RNDR
The idea for the Render Network was originally conceived in 2009 by Jules Urbach, a familiar executive at its parent company, Los Angeles-based technology company OTOY Inc., which develops AI-based, GPU-based software solutions for rendering concepts.
The initial token issuance was in October 2017, and each price was 0.25U. There were indeed few people who did rendering concepts, and they had an entity parent company, so I noticed in 20 years that the price was only around 0.34U at that time. When I was on Huobi, it was launched together with luna. Many KOL are optimistic about this project. The bull market of AI concept has risen sharply, and it may reach more than 50u. The current value is still five times!
ONDO
ONDO The most popular project in the Real World Asset (RWA) category. This could be the Solana of this bull run.
Ondo is the rising star leader, the son of CB, and has also cooperated with Sol. It is invested by Wall Street institutions, and its market maker is the Jump market maker on Wall Street, which is very powerful. Ondo Finance is an open and decentralized investment bank. Its core business is to serve and connect various stakeholders in the emerging DeFi ecosystem.
Despite the recent pullback in Bitcoin and other cryptocurrencies, ONDO has held strong, predicting a price range of $50 for the ONDO token during the bull run. So when that happens, you can turn $1,000 into $50,000 or $10,000 into $500,000 by investing in ONDO tokens.
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