Key Takeaway:
Bitcoin and Ethereum prices surge, potentially due to pending ETF approvals. Ethereum’s resilience and potential highlighted amidst market turbulence.
Ethereum Price Surge:
Ethereum’s price has surged over 15% in the last two weeks, reaching $3,835.43. Regulatory approval for spot Ether ETF applications possibly driving the uptrend.
Spot Ether ETFs Approval:
The U.S. SEC may reconsider its stance on spot Ether ETFs, with issuers like VanEck and Ark Invest seeking approval. May 2021 saw updated filings approved, signaling a step towards full ETF approval this year.
Tornado Cash Resurgence:
Despites sanctions from OFAC due to facilitating money laundering, Tornado Cash sees a resurgence with nearly $2 billion in deposits. Activity dropped in 2023 but increased significantly in the first half of 2024.
