Ethereum (ETH) Price Aims for $4,000 0 As Spot Ether ETF Odds Increase

While the SEC has been pressuring spot Ethereum ETF issuers to file their 19b-4 reports, whales have been buying large numbers of ETFs. The price of ETH is about to rise to $4,000 and higher.

 

Key Takeaways:

 

• With Ethereum‘s price rising 20% in the past day, the ETH/BTC pair sees a rise.
• In just one day, Ethereum whales took in more over $350 million in ETH supply.
• This week’s price volatility for ETH is expected to persist despite the likelihood of a spot Ether ETF approval.

 

 

Ethereum (ETH), the second-largest cryptocurrency in the world, has had a strong bullish spike, rising 20% over the last day. There is growing hope that a spot Ethereum ETF would be approved, which is the reason for this increase.

 

 

 

 

 

Ethereum (ETH) Price Pumps to $4,000

 

With a $443 billion market capitalization, the price of Ethereum (ETH) is currently 19.64% higher at $3,692 as of the time of writing. By doing this, ETH’s weekly gains have increased to almost 25%. However, the amount of ETH traded per day has also increased dramatically, by 264%, to above $36.24 billion.

 

This occurred on Monday when the issuer was compelled by the U.S. SEC to amend its 19b-4 paperwork for the Ethereum ETF slot. Market observers had little chance of the SEC approving a spot Ethereum ETF until last weekend. This was especially brought about by the issuers and the SEC’s lack of communication.

 

But in light of yesterday’s events, market observers have raised the chances of a spot Ether ETF approval from 25% to over 75%. Well-known cryptocurrency researcher Michael van de Poppe pointed out:

 

“The chances of denial on the spot Ethereum ETF have decreased by a mile. Perhaps there’s a delay, but the chances of an approval before August is significant. The bull market is here”.

 

 

By Thursday, May 23, The VanEck spot Ethereum ETF will have reached its first conclusion. Consequently, some degree of price volatility is likely to persist in the future. If there is any good news, the price of Ether could rise to $4,000 or even higher.

 

 

 

 

 

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The Return of the Ethereum Whales

 

The massive Ethereum holders, known as “whales,” have been quite active recently, amassing 110,000 ETH, or $341 million, in just one day.

 

 

Also, with Bitcoin’s big surge, the Ethereum/Bitcoin pair has been rising sharply. Consequently, a number of market participants have begun trading Bitcoin for Ethereum.

 

Loaning 350 WBTC ($25 million) from Aave and turning it into 6,905 ETH to long the ETH/BTC trading pair, investor James Fickel (@jamesfickel) is riding high on the prospect of an Ethereum ETF approval. Since January 10, when the Bitcoin ETF was launched, Fickel has kept a long position on ETH/BTC.

 

With a current exchange rate of 0.05408, Fickel has borrowed 2,741 WBTC ($150.3 million) from Aave and exchanged it for 50,693 ETH.

 

 

 

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How to Trade Crypto Futures on BTCC?

 

 

Now you can trade BTC on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

 

1. Register an Account

 

Join BTCC now and get up to 10,055 USDT when you deposit and trade. Click the button below to sign up now.

 

 

2. Deposit Funds

 

Once your account is set up, you’ll need to deposit funds into your BTCC account. BTCC may offer various deposit methods such as bank transfers, cryptocurrency deposits, or other payment options. Choose the method that works best for you and follow the instructions provided to deposit funds into your account. BTCC mainly offers USDT margin and future trading. Therefore, you need to buy USDT  before trading.

 

 

How to Buy Tether USDT Guide

 

 

 

 

3.How to trade BTC?

 

Here are the steps to trade BTC on BTCC

 

1) First, tap “Futures” on the website homepage

 

 

2) Select a product you would like to trade from the list here. BTCC currently offers daily and perpetual futures

 

 

 

3) Check time to settlement.  The settlement time of these futures type is different, you can check the time for settlement for each product here.

 

 

 

 

4) After choosing product, you can decide whther you would like to buy or sell it.  You only need to own USDT to trade USDT-margined futures.  That is to say you can sell BTCUSDT futures without owing any BTC Coin.

 

 

 

5) Then select your order type, and choose your leverage.

 

 

 

 

If you choose Limit or SL/TP order, you will need to enter your order price here.

 

 

 

Enter the quantity or choose the percentage under the quantity field.

 

 

 

 

You can also set up stop loss or take profit targets to limit losses or maximise earnings.

 

 

 

 

6)After everything is set up, Buy or  Sell to play your order. A confirmation window will show up,  check if all info is correct and click [Confirm] to open the position.