Ethereum peaked at US$1,702 at around 3:30 this morning (24th), the highest point in the past week. Before the deadline, it fell slightly to US$1,675 and rose by 2.65% in the past 24 hours.
A whale has deposited 42,800 ETH since May
The current market trend is still unclear, but according to Lookonchain monitoring , a whale bought 2,000 ETH (approximately 3.36 million U.S. dollars) from Binance shortly after inserting the pin, and since May 8, the whale has bought 2,000 ETH from Binance. Anti received 42,800 ETH (approximately $72 million).
It seems to be optimistic about the future outbreak of Ethereum and continue to accumulate ETH.
Ethereum futures ETF and Cancun upgrade are double positive, can it boost ETH?
There is a view in the market that the Ethereum futures ETF is expected to be approved by the SEC, coupled with the double benefits of the Cancun upgrade, which is expected to lead to a bullish outlook for Ethereum.
After Ethereum completed the upgrade in Shanghai in mid-April and allowed users to withdraw pledged ETH, another major hard fork "Dencun" is about to usher in. EthHub co-founder Anthony Sassano predicted last month that Cancun upgrade It will be deployed in November this year, when the EIP-4844 proposal is expected to greatly increase transaction speed and reduce transaction fees.
Bloomberg reported last week that the U.S. Securities and Exchange Commission (SEC) plans to approve the listing of the first Ethereum futures ETF, but it is not immediately clear which funds will be approved. There are currently as many as 16 Ethereum futures ETFs awaiting review. Valkyrie The Valkyrie Ethereum Strategy ETF that it applied for is expected to become the first Ethereum futures ETF to be listed on October 3 or 4, which is expected to bring a new wave of vitality to the market.
