Ethereum Whales Bullish on Rebel Satoshi (RECQ) as Ondo Finance (ONDO) Climbs – What’s Driving This Trend?
Ethereum’s ETF approval could be behind declining ETH volumes on crypto exchanges. Meanwhile, Ondo Finance (ONDO) has shot to a new all-time high.
On the other hand, expert traders are fixing their gaze on Rebel Satoshi’s crypto meme ecosystem following the 120% growth of its RECQ token. Interestingly, Rebel Satoshi ’s first coin was also a solid performer. However, can RECQ make it to the list of top altcoins? Let’s discuss it more!
The market is excited over the recent approval of spot exchange-traded funds for Ethereum. On May 23, 2024, the Securities and Exchange Commission (SEC) approved ETH ETFs. However, Data from CryptoQuant shows that the amount of Ethereum tokens on exchanges dropped by $3.02 billion .
Analysts say the excitement around spot Ethereum ETFs could push ETH to $4000 . ETH traded at $2,969 in early May. Two weeks later, ETH dropped by 2.96% to $2,881. ETH then rose by 8.36% to $3,122 before soaring by 22.13% to $3,813 at the start of June.
Experts even believe that Ethereum could set a new all-time high when its spot ETFs go live. Furthermore, many analysts have predicted a surge in Ethereum’s institutional demand following the ETF approval.
Arbitrum’s community is also voting on a proposal to approve $250 million for developing services in Ethereum’s gaming ecosystem. Meanwhile, analysts say increased gaming activity on Ethereum could push ETH’s value up by 12.88% to $4,3043.
Rebel Satoshi is a dynamic crypto community that seeks to change the market attitude towards decentralization. The project combines blockchain technology and a philosophy that will drive change via community support. Moreover, Rebel Satoshi also plans to offer new approaches to wealth creation and distribution.
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