Ether, Mantle Lead Crypto Majors as Bitcoin Traders See Prices Correcting to $48K
“Without a bounce from here, we could see a deeper correction begin, potentially as low as $47,000-$49,000,” one trader said.
Binary trading platforms with better performance and payouts
ether
“Without a bounce from here, we could see a deeper correction begin, potentially as low as $47,000-$49,000,” one trader said.
Blast, in an X post, termed the project’s potential as “undeniable,” which may have created a sense of security among investors.
Interest in ether bets rose significantly after the approval of spot bitcoin ETFs in January sparked optimism among ETH traders.
Reddit has submitted a filing with the Securities and Exchange Commission (SEC) to go public on the New York Stock Exchange under the ticker symbol “RDDT.”
Institutional interest in digital assets means that crypto terms such as ‘Nakamoto Coefficient’ are now mainstream issues.
Options dealers likely bought ETH in spot/futures market to hedge their short call exposure, adding to bullish momentum, BloFin’s Griffin Ardern said.
In 2023, crypto users lost an estimated $2 billion to hacks and scams, with Ethereum experiencing the highest losses due to its extensive ecosystem and high-profile projects.
Ether has rallied 16% in seven days, outperforming bitcoin’s 8.5% rise.
Ether is probably the only digital asset other than bitcoin likely to get spot ETF approval from the SEC, the report said.
However, ether will likely capture more hype and mindshare in the coming months on a potential ETF listing, one analyst said.