Altcoins

SEC Gives Up, ETH and Altcoins Rebound

Published

7 months ago

22 June, 2024

3:57 p.m. ▪ 5 min read ▪ by Evans S.

The crypto universe is in turmoil. The SEC’s recent decision to drop its investigation into Ethereum (ETH) has sparked a wave of optimism in the market. Investors see this news as a promising sign for the future of ETH and altcoins. So what are the implications of this decision for the price of ETH and other cryptocurrencies? Let’s explore this captivating question together.

The end of the investigation: A new beginning for the crypto ETH

The SEC’s decision to end its investigation into Ethereum is a victory for the network. For a long time, the classification of ETH as a security was a dark cloud hanging over the heads of investors and developers. This investigation has weighed heavily on the ecosystem, creating uncertainty and mistrust.

By removing this sword of Damocles, the SECOND paved the way for greater adoption of ETH. Laura Brookover, an attorney at Consensys, said crypto markets “won’t see any more protests from the SEC claiming ETH is a security.”

This legal clarification offers a breath of fresh air to investors, allowing them to focus on growth opportunities rather than regulatory risks.

It is important to note, however, that this decision does not constitute an eternal guarantee. As Carol Goforth, a professor at the University of Arkansas, points out, this simply means that the SEC is not continuing its investigation at this time. Nevertheless, this suspension is seen as a positive signal, and the future seems clearer for ETH.

Growth Outlook for ETH and Altcoins

With this regulatory uncertainty lifted, the price outlook for the ETH crypto is increasingly optimistic.

Analysts predict a significant increase in the price of ETH in the coming months. Conor O’Neill, community manager at Blockcircle, said the “major regulatory hurdle” for Ethereum has been removed, paving the way for substantial growth.

Additionally, the planned launch of spot exchange-traded funds (ETFs) for ETH in July is another factor that could propel the price of ETH. The introduction of these ETFs will likely attract an influx of traditional capital, thereby increasing the demand for ETH and, therefore, its price.

However, it is prudent to expect some short-term volatility, similar to that seen when Bitcoin ETFs were approved.

The positive effects of the SEC’s decision are not limited to ETH. Altcoins, especially those with similar characteristics to Ethereum, could also benefit from this news. Investors often view the success of ETH as a barometer of the altcoin market. Therefore, a rise in ETH could lead to a rise in altcoin prices.

A positive impact for the crypto ecosystem

The SEC’s decision to drop its investigation could also have repercussions for other cryptocurrencies. Projects like Aave, Chainlink, Arbitrum, Optimism and Base, which have been under SEC scrutiny, could see a reduction in regulatory pressure. This development could promote stronger growth and wider adoption of these projects.

Additionally, the SEC’s decision could signal a broader shift in regulators’ approach to cryptocurrencies. With the US presidential elections on the horizon and the adoption of pro-crypto measures by political figures like Donald Trump, the regulatory future could become even more favorable to digital assets.

The involvement of major institutional players like Standard Chartered in cryptocurrency trading also indicates growing interest and growing legitimacy for the sector. This institutional support could encourage other large companies to enter the market, bringing with them unprecedented levels of liquidity and confidence.

The SEC’s decision to drop its investigation into Ethereum has injected a wave of optimism into the cryptocurrency ecosystem. Even though ETH and altcoins hope for a better future, it is essential to keep an eye on future developments. ETF launches, regulatory decisions and market movements will continue to shape the cryptocurrency environment.

Investors should remain vigilant and informed as the cryptocurrency landscape is constantly evolving. The lifting of this investigation is a step in the right direction, but it is only one chapter in an ongoing story. The road to widespread adoption and stability of cryptocurrencies is long, but with such developments, the future looks bright.

Maximize your Cointribune experience with our “Read to Earn” program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning benefits.

Click here to join “Read to Earn” and turn your passion for crypto into rewards!

Avatar of Evans S.

Evans S.

Fascinated by bitcoin since 2017, Evariste has never stopped researching the subject. If his first interest was in trading, he is now actively trying to understand all the advances centered on cryptocurrencies. As an editor, he aspires to continually deliver high-quality work that reflects the state of the industry as a whole.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.