ETHUSD bulls are trying to stabilize above the $2500 support level following last week’s spike above $2700 as the markets celebrated the first-ever spot Bitcoin ETF launch.
The successful launch of BTC ETF, with a >$4.3 billion funds attracted during the 1st trading day, has uplifted the whole crypto industry to a new level, including the second largest cryptocurrency – Ether.
The markets are already speculating on the potential for a new Ethereum backed ETF to be introduced in the future.
However, there are no significant milestones reached in that direction just yet.Despite the uncertain potential for an actual ETH ETF to come to life any time soon, Ethereum is still playing a key role in the wider crypto ecosystem, acting as a base chain for many altcoins.Other key catalysts such as tokenization of the real-world assets and continuously evolving tech may also affect the price down the road.
On the technical side…
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