Ethereum Price Prediction as $10 Billion Trading Volume Sends ETH Up 7% – Time to Buy?
The price of Ethereum (ETH) has been on a remarkable upward rally, surging above the $18,000 level on Tuesday morning.
This surge has been accompanied by a significant increase in trading volume, reaching a whopping $10 billion.
One significant factor contributing to the surge in Ethereum's value is the recent development enabling HSBC Hong Kong customers to trade Bitcoin and Ethereum futures through Exchange Traded Funds (ETFs).
In this Ethereum price prediction, we will explore the factors behind this bullish momentum and evaluate the potential opportunities it presents for investors.
HSBC Hong Kong's recent decision to allow its customers to trade Bitcoin and Ethereum futures through Exchange Traded Funds (ETFs) is a significant development that expands the accessibility of digital asset derivatives in the fast-growing Asian crypto market.
As a major bank in Hong Kong, HSBC's move highlights the increasing acceptance and interest in cryptocurrencies.
By offering these ETFs, HSBC provides its investors with a regulated and convenient means to access Bitcoin and Ethereum futures.
This increased accessibility and acknowledgment of digital assets by a prominent financial institution like HSBC have the potential to positively influence the price and demand for Ethereum (ETH) in the market.
According to on-chain data, prominent Ethereum whales with substantial holdings of ETH in self-custodial wallets have been accumulating more coins, reaching a new record high.
This accumulation by influential entities reflects a bullish sentiment and signifies confidence in the potential of Ethereum.
Consequently, the heightened demand from these whales has the potential to influence the price of ETH positively. Their actions serve as an
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