 ▲ Ethereum (ETH) ©Coin Leaders |
The price of Ethereum (ETH), the second-largest coin in market capitalization, has fallen about 1% over the past 24 hours and is barely maintaining the $3,400 level.
According to CoinMarketCap, the price of Ethereum is at $3,409 as of 10:37 am on the 3rd (Korean time), down 0.99% from 24 hours ago.
This is a 30.24% decline from the all-time high of $4,891.70 achieved on November 16, 2021.
Ether prices are showing weakness despite expectations of final approval for the spot ETF.
However, K33 Research, a cryptocurrency research company, expressed optimism in a report, saying that Ethereum has performed poorly compared to Bitcoin (BTC) since the beginning of this year, but is ready for a rebound in July.
The report said, “Ethereum is preparing to list the first spot ETF in the U.S. in July. It is predicted that it will absorb between 0.75 and 1% of ETH circulation in the five months following the launch of the Ethereum ETF. The launch of the ETF will generate news sales. the-news) A selling event (similar to the Bitcoin ETF in January) may occur, but this will only be a short-term phenomenon and the launch of the ETF will serve as a relative strength in the coming months.”
Meanwhile, Nate Geraci, CEO of ETF Store, a U.S. ETF specialist, said through
Jerash said, “The revised securities report (S-1) based on feedback from the U.S. Securities and Exchange Commission (SEC) must be submitted by July 8, and the expected final approval date for S-1 is July 12. Therefore, the ETH spot ETF is “It is likely to be released in the third week of July,” he predicted.
