Ethereum spot ETFs hit ATH of $855M

Ethereum is a popular crypto coin after Bitcoin and if we talk about altcoins then it is a leading coin in the list. It is another of the big spot ETFs in the market after Bitcoin and now there is great news for all the ETF holders Ethereum. It has hit its all-time high of $855 Million. It is a big amount and shows how people are enthusiastic about Ethereum and how much funds they are investing in this spot ETF.

We know that Bitcoin is the biggest one in this list, But this time Ethereum is also doing great and surely a good option to consider for the long term because it is expected that the Ethereum price will grow over the period.

The second largest cryptocurrency by market cap could be on the brink of a rally, with the $5,000 mark within reach, driven by strong supply-demand dynamics and growing network activity

It is a leading blockchain network that is scalable and provides secure infrastructures to all the projects which is the key of this chain. There are so many chains available in the market that can run ethereum compatible applications but security and scalability an issues with them however with Ethereum this was never an issue even since the beginning. A lot of projects prefer security and scalability of the chain and that is why despite having higher transaction fees they choose Ethereum.

This is going in favour of Ethereum and as a result, the value of ETH coin is growing which is expected to touch 5000 U.S dollars soon. This is not about Ethereum's price in the market but because a lot of people are investing in its spot ETF which is good for the entire crypto ecosystem as well as for Ethereum specifically because its price is going up based on the market demand.

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Posted Using InLeo Alpha