The crypto market is buzzing with anticipation as Ethereum ETF approvals appear imminent. Bitwise Asset Management’s Katherine Dowling recently told Bloomberg that spot Ethereum ETFs are nearing the finish line, with fewer regulatory hurdles remaining after each S-1 form refiling. SEC Chair Gary Gensler‘s public statement about summer approvals has fueled optimism, with Polymarket betting markets assigning a 90% probability of ETH ETF approval by July 26.
This development coincides with record-high Ethereum staking levels, with 28% of circulating supply locked in the Eth2 network. An additional 12% is tied up in smart contracts and cross-chain bridges, leaving only 60% of supply actively traded. This scarcity could amplify the impact of ETH ETF flows, potentially driving significant market movement.
Today’s top movers:
$PulseX: Decentralized exchange token, part of the DeFi narrative.
$OM: MANTRA DAO governance token, aligning with the DAO and DeFi narratives.
$HEX: Blockchain certificate of deposit, representing the yield farming trend.
In focus: $HEX coin
HEX is a blockchain-based certificate of deposit designed to provide high yields through a unique staking mechanism, currently experiencing volatility due to market speculation and yield farming trends.
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