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Ethereum Had The Biggest One-Day Point Move Ever On
Ethereum's one-day point rise was the biggest ever on May 20, after SEC approval rumors this week.
Rada Mateescu Rada MateescuAuthor verified May 22, 20242 reads
Ethereum made the biggest one-day point change ever.
The SEC may approve ETH ETFs this week, prompting the move.
Ethereum has the greatest one-day point shift ever, according to Matrixport. This follows various rumors that the SEC may authorize ETH ETFs this week.
Matrixport reports May 20 as the biggest one-day point.
Matrixport said the SEC and FOMC meeting might spur Ethereum ETF approval.
They presented an X graph of Ethereum's 2021 and 2024 one-day point changes.
Bloomberg's James Seyffart stated on his X account earlier today that at least five Ethereum ETF producers had filed updated applications to CBOE.
Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton.
Seyffart said that crypto items may be too far off to debut. In contrast, these documents confirm all speculations and conjecture concerning the matter.
Syeffart also said that crypto product Bloomberg clearance probability remain at 75%.
On May 20, Bloomberg's Eric Balchunas and Seyffart upgraded Ethereum ETF approval probability from 25% to 75%. Political pressure may be the cause, he suggested.
Standard Chartered Bank Head of FX Research and Digital Assets Research Geoff Kendrick also expressed confidence for SEC Ethereum ETF approval.
Recent predictions from Coin*** include crypto product clearance.
In an official blog post, they stated that ETH's past trading patterns suggest it benefits from “store-of-value” and “technology-token” storylines.
They also claimed Ethereum
According to Decrypt, Coin**** said that “while there is uncertainty around a timely approval given the SEC’s apparent silence with issuers,” a crypto product will soon enter the market.
According to official sources, the US SEC will rule on VanEck and Ark Invest petitions tomorrow, May 23, and Friday, May 24.
