$ETH recorded the largest single-day increase in more than a month, and ETF application became the focus again

ETH recorded the largest increase in more than a month on Monday (8th), becoming the focus of the cryptocurrency market. The chief of staff believes that the surge on this day is related to the speculation about the prospects of Ethereum spot ETF.

　　As of today, the trading price of $ETH has fallen from the high of $3732 on the day to around $3500, and it still maintains a relatively high level in recent days. So far this year, Ethereum has risen by about 62%, slightly behind Bitcoin's overall increase of 68%.

　　Edward Chin, co-founder of digital asset hedge fund Parataxis Capital, believes that the meeting between Ethereum ETF issuers and the U.S. Securities and Exchange Commission (SEC) has brought momentum to the market.

　　Although the SEC remains skeptical about Bitcoin, after the court's ruling, the SEC reluctantly approved the listing of the U.S. spot Bitcoin ETF in January this year. Since its launch in January, this category of products has accumulated $59 billion in assets, making it one of the most successful fund categories ever launched. This also helped Bitcoin hit a record high in mid-March.

Now, investment giants including BlackRock Inc. and Fidelity Investments have submitted applications to launch Ethereum ETFs, and the market is paying close attention to their progress, although there are still questions about whether regulators will approve them.

Although Bitcoin is considered a commodity, the SEC believes that most other tokens are actually unregistered securities, so it claims that the digital asset industry is rife with violations, which makes it challenging for Ethereum ETFs to be approved.

If this application is approved, it will indicate that ETH will have unprecedented benefits, and the current ETH bullish trend is still strong, and there is still a lot of room for catch-up. Yesterday was just a short-term correction in the rise. If it stands above 3700 again, it will welcome the arrival of 4000!

$ETH Today's operation suggestion: enter long orders near 3520, if it retreats to around 3470, you can cover your position, and the target point is above 3560

I am good at BTC ETH macro forecasts and micro transactions, and I provide free guidance on real trading. "Official Account: Chief of Staff of Currency Circle" #大盘走势 #非农数据 #Meme