According to Decrypt, the recent approval of Bitcoin spot exchange-traded funds (ETF) has had a significant impact on the cryptocurrency market. Following the approval, the price of Bitcoin briefly reached $49,000 before dropping back to $43,000, where it has been trading for some time. Currently, Bitcoin is down about 2% from its price seven days ago, and its value has remained flat over the past month. However, Bitcoin has seen a 120% increase since last year. Ethereum, on the other hand, experienced more positive growth, reaching an 18-month high of nearly $2,700. Currently trading at $2,568, Ethereum has seen a 14% increase over the last week and a 12% increase over the last month, with a one-year return of about 80%. Ethereum scaling networks Arbitrum (ARB) and Optimism (OP) also had strong weeks, with gains of 22% and 16%, respectively. Other cryptocurrencies, such as Tezos (XTZ) and Stacks (STX), posted double-digit percentage gains over the past week, while the Ethereum Name Service and its ENS token saw the best performance, with a 75% increase over the last seven days.

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