YEREVAN (CoinChapter.com)—Ethereum’s price has jumped significantly because people are discussing a possible spot for Ethereum ETF approval. The price went up by over $590 in just one day, increasing its market value by more than $70 billion. This brought Ethereum’s price to $3,660, a level not seen since early April.
Billy Markus, who co-created Dogecoin and goes by Shibetoshi Nakamoto, commented on the surge. He thinks Ethereum will reach $100,000.
Markus also discussed how unpredictable the crypto market can be. He mentioned that when people buy or sell, the market often moves in the opposite direction immediately afterward.
Could an Ethereum ETF Approval Lead to More Gains?
This big price jump comes just before a decision on whether a spot Ethereum ETF will be approved. At first, experts thought there was only a 10-25% chance of approval. But now, the chances are estimated to be 61%.
This excitement has led to predictions that Ethereum price could soon reach $4,000. If the ETF is approved, it could mean more people will start investing in Ethereum and other cryptocurrencies.
Dogecoin Might Benefit from an Ethereum ETF
The possible approval of the Ethereum ETF has also made people think about other cryptocurrencies, like Dogecoin, getting similar investment products. As the main meme cryptocurrency, Dogecoin could see more interest from big investors if the Ethereum ETF is approved.
Dogecoin has had some issues lately, like a key metric dropping by 86%. But if an ETF is approved, it could attract new interest and investment.
The next few days are very important for Ethereum and the wider crypto market. The decision on the Ethereum ETF could lead to big changes and shape the future of cryptocurrency investments.
