 ▲ Ethereum (ETH) |
Ethereum (ETH), the second-largest coin in market capitalization, recovered to the $3,500 level amid an upward trend on the 20th (local time). At one point on this day, Ether rose to $3,623.89 based on CoinMarketCap.
In addition to the news that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0, it is said that issuers of ETH spot ETFs will submit amendments to the application again this week, which is believed to have improved investor sentiment.
Singapore-based cryptocurrency trading company QCP Capital said, "The implied volatility (IV) of ETH short-term options has risen. Currently, large purchases of ETH call options are taking place, which is a result of reflecting expectations for the ETH spot ETF." “If only 10-20% of the funds flowing into the (BTC) ETF flow into the ETH ETF, ETH could rise to $4,800,” he predicted.
Meanwhile, anonymous analyst Credible Crypto told his 399,000 followers on social media platform He said it was between $3,430.
He believes that the SEC's recent decision to end its investigation into Ethereum's security status could act as a bullish catalyst that could push Ethereum to all-time highs.
