Ether Hits $3K for First Time in Nearly 2 Years Amid Rising ETH ETF Excitement

Ether's price rose about 1.6% over the past 24 hours and has risen over 12% in the past week, outpacing other cryptocurrencies, according to data from CoinGecko.

Bitcoin's price was on the move as well, ahead more than 2% over the past 24 hours and nearing $53,000.Cryptocurrencies at large have had a green 2024 so far, with major tokens' prices well above where they were in 2023. ETH surged nearly 30% since the beginning of the year, outperforming BTC's 22% advance.$3,500 as the next resistance level as market participants anticipate that spot-based ETH exchange-traded funds could be next in line for U.S. regulatory approval.

"We are very close in this move to levels around $3,150-$3,300," said Kenny Hearn, SwissOne Capital’s chief investment officer, in an interview with CoinDesk."The next level after that would be $3,600 and we think this is quite easily attainable in the next month or so as the alts continue to play catch up."

A potential approval would boost ETH's appeal among more conservative, institutional investors, just as the new bitcoin ETFs that debuted last month have attracted massive allocations.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Source: Digital Coin News (digitalcoinnews.net)

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