Author: Elena R
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
May 28, 2024 12:35
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Kaiko Research reported on May 27 that spot Ethereum ETF approvals will improve the long-term growth of Ethereum despite its short-term headwinds. Additionally, the approval will reduce regulatory uncertainty and treat ETH more as a commodity than a security. Kaiko’s Will Kai highlighted the positive regulatory implications for similar tokens. However, there may be significant outflows from Grayscale’s ETHE, putting pressure on ETH prices. He also noted that since May, Hong Kong’s ETH has experienced $4.4 million in outflows. Nevertheless, even with these challenges, Ethereum’s market depth remains below pre-FTC levels.
