The price of ether is rallying toward the $4,000 mark just days after eight Ethereum exchange-traded funds were approved and ahead of their pending launches.
The price action may have stemmed from former President and current 2024 leading Republican candidate Donald Trump's pro-crypto comments over the weekend, according to crypto market-making firm QCP Capital. "From today's price action, it seems that market participants are expressing their bullishness in ETH rather than BTC, especially with the potential institutional demand once the ETH spot ETF starts trading," said QCP Capital in its regular market update.
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