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Ethereum (ETH) is up in the last 24 hours. This is thanks to a recent development suggesting that the Spot Ethereum ETFs are set to launch anytime soon. These funds are expected to positively impact ETHs price, with the second-largest crypto token poised to reach new highs.

Ethereum experienced a price surge following Bloomberg analyst Eric Balchunas revelation that the Spot Ethereum ETFs could begin trading by July 23. Balchunas mentioned in an X (formerly Twitter) post that the US Securities and Exchange Commission (SEC) has gotten back to the fund issuers and asked them to submit their final S-1 filings by July 22.

The SEC also asked them to request effectiveness on July 22 so they can launch on July 23. Therefore, the Spot Ethereum ETFs should launch by next week, provided there are no unforeseeable last-minute issues, as noted by Balchunas. The launch of the Spot Ethereum ETFs is undoubtedly bullish for ETH, giving the amount of new money set to flow into its ecosystem through these funds.

Crypto research firm K33 predicted that these Spot Ethereum ETFs could attract as much as $4.8 billion in their first five months of trading. In line with this, crypto analysts predict that Ethereum could record massive gains thanks to these inflows. Crypto analyst Linda recently predicted that the crypto token could rise to as high as $4,000 soon enough.

Other analysts, like Altcoin Sherpa, have also predicted that ETHwill hit $4,000 soon. Meanwhile, crypto analyst and trader Tyler Durden has provided a more bullish prediction for ETH, stating that the crypto token will rise to $10,000 just the way the chips have fallen.

The crypto analyst alluded to the Spot Ethereum ETFs as what will spark such a parabolic move for Ethereum. He claimed that institutional investors had put so much effort into ensuring that the Spot Ethereum ETFs were approved and that they would ensure that they made money from these funds while pumping ETHs price.

The Spot Ethereum ETFs launch is also expected to spark massive moves for other altcoins and is likely to kickstart the altcoin season. Crypto analyst Crypto Rover advised market participants to prepare accordingly, boldly asserting that altcoin season will start once the Spot Ethereum ETFs begin trading.

From a technical perspective, crypto analyst Titan of Crypto mentioned that altcoins are ready to make major moves to the upside as Bitcoins dominance drops. Crypto analyst Mikybull Crypto also stated that the macro short-term correction for altcoins is about to end, meaning that the Spot Ethereum ETFs could be the catalyst that sparks a bullish reversal.

At the time of writing, ETH is trading at around $3,300, up in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com

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Why Is The Ethereum Price Up Today? - NewsBTC

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The price of Ethereum has rallied 5% to over $3,300 ahead of the key spot Ethereum exchange-traded fund (ETF) decision, according to data from TradingView.

The US Securities and Exchange Commission (SEC) is expected to greenlight the launch of several spot Ethereum ETFs by the end of this month. While the specific date remains speculative, ETF experts estimate that approval will come the week of July 15.

Nate Geraci, the president of the ETF Store, reiterated his prediction that the SEC will approve the S-1 filings this week after weeks of delays following initial listing acceptance in May. He believes theres no reason for further delay because issuers are ready for launch and recent filings require minimal changes.

Welcome to spot [ETH] ETF approval week. Im calling it. Dont know anything specific, just cant come up [without] good reason for any further delay at this point. Issuers ready for launch, Geraci stated in a Sunday post.

Bloomberg ETF analysts Eric Balchunas and James Seyffart previously predicted the spot Ethereum ETFs could be approved and begin trading as soon as mid-July.

Seyffart noted that Ethereum ETF issuers have been filing their final S-1 registration statements, which is the last regulatory hurdle before approval. Balchunas said the SECs minimal feedback on these latest filings suggests they are close to being satisfied with the applications.

Matt Hougan, the Chief Investment Officer at Bitwise, confirmed that minimal amendments suggest imminent approval.

The approval of a spot Ethereum ETF is anticipated to have a major impact on the Ethereum market and the broader crypto industry. It could drive remarkable inflows of institutional and retail capital into Ethereum, potentially mirroring the success of spot Bitcoin ETFs.

In a recent report, Hougan suggested that spot Ethereum ETFs could attract $15 billion in net inflows by the end of 2025.

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Ethereum surges 5% to $3,300 ahead of key ETF decision - Crypto Briefing

Crypto expert Crypto Bitlord criticizes Vitalik Buterin for neglecting Ethereum scaling efforts amid the 20% surge from XRP.

Market commentator Crypto Bitlord has gone to X to voice concerns regarding Ethereums progress. He criticized Ethereum co-founder Vitalik Buterin for not focusing enough on scaling the network, claiming Buterin is more concerned with personal matters.

This statement comes amid a significant 20% increase in XRPs value, highlighting a stark contrast in performance between the two cryptocurrencies. Bitlords comments have also sparked diverse reactions from the crypto community, reflecting varied perspectives on Ethereums future.

Crypto Bitlord accused Buterin of neglecting Ethereums scaling efforts, pointing out that Buterin is seen taking first-class flights and focusing on trivial issues like mask-wearing. The pundit asserts that these purported distractions have contributed to Ethereums sluggish movement in the market.

He highlighted that while XRP has surged by 20%, Ethereums growth remains minimal. Bitlords criticism underscores a sentiment of frustration among some Ethereum supporters, who believe Buterins current actions are insufficient for advancing the platform.

The crypto communitys response to Bitlords critique reveals a spectrum of opinions. A pseudonymous veteran known as Yakuza defended Buterin, emphasizing his past contributions to Ethereums success.

Yakuza argued that Buterins efforts have brought Ethereum to its current status, suggesting that recent inactivity does not negate his historical impact.

Conversely, another analyst dismissed the comparison between XRP and Ethereum, asserting that XRP will never surpass Ethereum. This analyst emphasized Ethereums potential and ongoing roadmap, suggesting that the platforms long-term vision remains intact.

However, there are also voices of dissent within the community, with some analysts expressing skepticism about Ethereums ability to scale effectively. These critics argue that Ethereums current and future scalability issues make it an unviable option for mainstream adoption.

Over the past month, the price performance of Ethereum (ETH) and XRP has shown notable differences. Ethereum experienced a steady decline initially, followed by stabilization and a gradual recovery, ultimately trending upwards but remaining below its starting point for most of the period.

In contrast, XRP displayed significantly higher volatility, with several sharp drops and quick recoveries. Notably, XRP surged dramatically towards the end of the period, resulting in a substantial positive gain that surpassed its initial value.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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While XRP Surges 20%, Expert Says Vitalik Buterin Neglects Ethereum Scaling Efforts - The Crypto Basic

Mon 15 Jul 2024 4 min of reading by Luc Jose A.

Between revolutionary announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovation and a field of regulatory and economic battles. Here is a summary of the most notable news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.

Last Saturday, an assassination attempt against Donald Trump during a rally in Pennsylvania shook the political and financial scene. The shooter, Thomas Matthew Crooks, was neutralized after injuring Trump in the ear. This attack triggered an immediate reaction in the crypto markets, with Bitcoins price climbing 5.5% to reach $62,450. Trump, known for his support of the crypto industry, contrasts sharply with his opponent Joe Biden, which has boosted investors confidence in a potential pro-crypto administration. The rise in Bitcoin was followed by other cryptocurrencies like Ethereum and Solana, driven by the public support of influential figures like Elon Musk.

Ripple has reached a crucial milestone in integrating XRP into the institutional market with the Chicago Mercantile Exchanges (CME) announcement to launch real-time price indices for the crypto. This initiative, supported by Brad Garlinghouse, Ripples CEO, marks a significant advancement for XRP and offers institutional investors reliable and accurate price benchmarks. The launch of these indices by CME, in partnership with CF Benchmarks, includes continuous updates based on activities from major trading platforms like Coinbase and Kraken. This could pave the way for future developments such as an XRP-based ETF, further strengthening its position in the traditional financial market.

Bitcoin makes a notable entry into French Pension Savings Plans (PER) through an innovative partnership between VanEck Europe and Inter Invest. This partnership introduces a Bitcoin ETN, allowing French savers to diversify their portfolios with the leading crypto. This ETN, backed by real bitcoins and held by a regulated custodian, ensures secure and controlled exposure to this emerging asset class. Jean-Baptiste de Pascal, Deputy General Manager of Inter Invest, emphasizes that this initiative is part of a strategy to democratize innovative financial assets. Martijn Rozemuller, CEO of VanEck Europe, adds that while Bitcoin is currently volatile, it represents a long-term innovative asset. This integration of Bitcoin into PER opens new opportunities for savers while modernizing the retirement savings sector in France and meeting the expectations of investors seeking diversification.

Tether (USDT) recently reached a daily transaction volume exceeding $55 billion, surpassing Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Solana (SOL) combined. This performance highlights the growing role of stablecoins in the crypto ecosystem, particularly during periods of high volatility. The increased demand for more stable assets like USDT, coupled with its growing use in trading transactions, explains this trend. The increased liquidity provided by USDT strengthens investor confidence and stabilizes exchanges. The prospects for USDT and stablecoins, in general, are promising but depend on regulatory developments and market adoption.

Thats the main takeaway for this week. But if you want a more detailed summary and in-depth analyses directly in your inbox, feel free to subscribe to our weekly newsletter.

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Graduated from Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations, and put the economic and societal issues of this ongoing revolution into perspective.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Bitcoin, Binance, Ethereum, Solana and Ripple: The Biggest Crypto News of the Past Week - Cointribune EN

XRP would need to rally by as much as 1,223% to finally flip Ethereum as the second-largest cryptocurrency in the market.

The XRP community has continued to bemoan the underperformance witnessed with XRP over the past few years. This persistent underperformance since March 2020 has created a massive gap in market cap between XRP and Ethereum, two assets that continuously competed closely for the second spot in the early days.

Before Ethereums launch in July 2015, XRP battled with Litecoin for the second spot on the list of largest assets by market cap. After Ethereum launched, XRP transcended Litecoin, but instead began a new battle with ETH. Ethereum gained the upper hand until January 2018 when XRP hit its ATH of $3.3.

However, amid the correction from this peak, XRP dropped below the second spot again. Market data confirms that since March 2020, Ethereum (red) has outperformed XRP (blue) by a mile. This has led to ETHs market cap skyrocketing to the hundred-billionth level, while XRPs valuation remains below $40 billion.

Currently, Ethereum boasts a market cap of $377.2 billion, while XRPs market cap currently stands at $28.58 billion. XRP has now moved below the top 5 assets by market cap, with its current position being seventh. Despite the bearish reality, some market watchers project an imminent rally. Some of the expected targets could help XRP recover the second spot.

Amid these predictions, we recently assessed how much XRP needs to rally to reclaim the position as the second-largest cryptocurrency. For context, XRP must surpass Ethereums $377.2 billion valuation to reach this feat. This would mark a new all-time high valuation for the asset.

Supposing XRPs circulating supply remains fairly constant at 55.805 billion, the token would need to hit a price of $6.76 to claim a $377.2 billion market cap. With XRP currently changing hands at $0.5112, a massive 1,223% rally is necessary to clinch the $6.76 price level.

Notably, the $6 territory is one of the multiple targets set by market analysts. Interestingly, this $6 price level represents the lower end of these projections. Last month, crypto analyst EGRAG suggested that XRP could reach a minimum target of $6.4. His chart indicated that this target level aligns with the 1.618 Fibonacci retracement point.

Moreover, Mikybull, a Bitcoin analyst, disclosed in April that he expects XRP to clinch the $6 level soon. DustyBC, another analyst, predicts a rally to $6 during the bull run. Last October, market watcher Cryptobilbuwoo made a similar projection. Meanwhile, currently, XRP is among the top gainers over the last 24 hours, having spiked 10.45%.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Heres The Price XRP Must Reach to Flip Ethereum - The Crypto Basic