Bitcoin continues its volatile path as it struggles to secure a foothold above $62,000, resulting in significant losses for other market high-flyers such as Ether (ETH), XRP, ADA, and LINK. Several tokens linked to the
Ethereum network, however, offer promise for ambitious gains in the future. Global fund
Franklin Templeton has submitted a proposal for a Bitcoin and Ethereum index ETF to the
SEC. This prospect of further ETFs is a contentious issue; while some analysts see it as beneficial, others argued that it faced 'narrative' challenges. The commercial proposal coincided with significant outflows of Bitcoin and Ethereum ETFs due to tensions in the Middle East, with Bitcoin ETFs losing $242M and Ethereum funds following suit with $48M in losses. Meanwhile, tech developments such as the launch of
Sui Bridge on Mainnet show how Ethereum can connect with other tokens. Increasing activity network on the Ethereum network, revealed by a 498% rise in gas fees over a fortnight, further highlights the growing profile of Ethereum. Such significant network activity backs bullish price predictions for Ethereum, with some experts forecasting a breakthrough to $10,000 in the next bull cycle. Yet, alongside the enthusiasm, concerns still linger as
Ethereum underperforms against Bitcoin. However, Ethereum's relevance and resilient performance make it a staple in the crypto market.
ETH Coin News Analytics from Tue, 10 Sep 2024 07:00:00 GMT to Wed, 02 Oct 2024 22:06:20 GMT -
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