The post Reasons to back Ethereum in June appeared on BitcoinEthereumNews.com.

The crypto segment has a collective market cap of $2.53 trillion when writing this article. It is dominated by Bitcoin (BTC), with a share of 54.1%. Ethereum (ETH) follows with a share of 17.45. Should it receive more support, chances are Ethereum would fetch better returns and possibly a larger share of the industry. That is a long shot, but the near-term speculation is similarly hopeful. This is based on the approval of Spot Ether ETF, its robust ecosystem, and its leading blockchain. The US Securities & Exchange Commission – SEC – has approved Form 19b-4 and will likely give a green light to registration forms soon. If approved, when approved, it would pave the way for institutional investors to get their hands on Ether from a brokerage account or other legitimate exchange platform. They have stayed away because of regulations and financial concerns. Integrating the traditional financial mechanism eliminates that discomfort and enables investors to consider diversification. The result of Spot Bitcoin ETF approval is evident already. It has attracted significant capital inflow to the market, and more are likely to enter in the future. Ether is currently at $3,670.24, down by 0.52% in the last 24 hours. It further reflects a drop of 3.87% in the previous 7 days and a surge of 21.07% in the last 30 days. The 24-hour trading volume is up by 5.08%, while the market cap is down by 0.50% at the press time. If anything, the approval for Spot Ether ETF will only mark an uptick in the current value. It is predicted to fetch a return of 2.24% in the next 30 days, taking the value as high as $3,789.94 amid the current settings. Next, Ethereum is targeting the tokenization of RWAs—real-world assets. This denotes converting physical and intangible assets into…

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Filed under: News - @ June 10, 2024 5:18 pm