 ▲ Ethereum (ETH) |
As the number of active wallets for Ethereum (ETH) rapidly increased, expectations for a price rebound were raised.
Blockchain specialized media newsBTC reported the results of Santiment's analysis that the number of active wallets on the Ethereum blockchain reached 617,170 as of June 21 (local time), the highest in three months. .
The Ethereum community suggested that the increasing trend in the number of active wallet addresses could lead to increased demand for Ethereum tokens and a price rebound, as it suggests more active network activity. Some Ethereum enthusiasts focused on the possibility of Ethereum breaking through the $3,400 and $3,600 range, where it continues to trend sideways, as the number of active wallets increases.
Michaël Van De Poppe, founder of trading platform MN Trading, also raised the outlook for Ethereum’s strength. He argued that if the price of Ethereum relative to Bitcoin (BTC) remains higher than 0.05BTC, the price pattern will soon reverse. He mentioned that if the value of Ethereum relative to Bitcoin rises for the first time in two and a half years, the details of the altcoin market will also become solid.
The news that the Ethereum spot exchange-traded fund (ETF) applicant has submitted amendments to its S-1 document to the U.S. Securities and Exchange Commission (SEC) and is targeting approval in July also adds to expectations for a rise in Ethereum.
According to Cointelegraph, on the 21st (local time), VanEck, BlackRock, Grayscale, Invesco Galaxy Digital, etc. submitted amendments to the S-1 document. . It was also confirmed that Fidelity submitted a new S-1 document to the SEC. Van Eck set the Ethereum spot ETF fee at 0.2%, and Franklin Templeton set it at 0.19%.
Meanwhile, Bloomberg analyst Eric Balchunas predicted that the Ethereum spot ETF will be launched in the first week of July.
