Shock Analysis: Glassnode Reveals Divergence Between Bitcoin and Ethereum
A recent report from FinanzNachrichten.de indicates that the performance of Bitcoin and Ethereum has significantly diverged in 2023. While Bitcoin experienced a price decline following its fourth halving, Ethereum showed one of the worst post-halving performances in its history.
Despite the initial downturn, the market for both cryptocurrencies recovered. The analysis highlights how new US spot ETFs could impact the spot market and speculates on future developments regarding ETH-based ETF approvals by the SEC, as well as the potential of new multi-chain projects like Dogeverse.
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Ethereum Forecast: Why Ether Is Falling Again - May 7, 2024
According to an article at wallstreet:online, Ether recently recorded a price drop, triggered by uncertainties around the approval of an Ether exchange-traded fund (ETF) and regulatory signals from the USA.
This decline aligns with the general trend of other cryptocurrencies and is further supported by technical indicators, which show that certain resistance levels could not be broken. Nevertheless, the long-term market outlook remains positive with indications of potential price increases based on current chart patterns.
Ethereum vs. Bitcoin: Thielen Doubts Flippening
In a detailed analysis by Markus Thielen at BeInCrypto | Bitcoin & Crypto News, it is argued that despite strong performance in previous bull markets, Ethereum's fundamental data is weak – especially concerning late upgrades – making it unlikely to surpass Bitcoin.
Furthermore, regulatory challenges continue to act as a brake on Ethereum's acceptance in the market compared to well-established assets like BTC or traditional financial titles.
Grayscale Withdraws Ethereum Futures ETF Application
Cointelegraph Deutschland reports that Grayscale has withdrawn its application for an Ether Futures ETF just before a decision by the SEC, here. This could have far-reaching implications both for institutional investment opportunities and for private investor confidence in such products.
Traders Short Ethereum, Grayscale Withdraws ETF Application
Bitcoin GoGo reports an increase in short positions for Ethereum due to the uncertain future of Ether Futures ETF applications. This development shows how interest in capital market dynamics can change in the short term.
zkSync Era: Why You Should Keep an Eye on This Project
The innovative layer-scaling project zkSync promises significant improvements in scalability and transaction speed for dApps on the Ethereum blockchain, according to BTC Echo. The potential of this project is tremendous, given its cost-efficient implementation of the latest technological advancements.
