Ethereum keeps pace with Bitcoin in an ETF rally 🚀

While Bitcoin grabs the headlines, Ethereum (ETH) is not far behind. The second-largest cryptocurrency by market capitalization has seen an increase of over 2% in the last 24 hours, reaching prices above $4,200.

This bullish movement is strongly linked to the growing interest in Ethereum ETFs, which have seen record inflows.

The total value locked (TVL) in the Ethereum DeFi ecosystem continues to grow, with platforms like Pendle reaching a historic TVL of $8.3 billion, boosting the PENDLE token by 45%.

This growth demonstrates the strength of the network and investors' appetite for its applications. The CEO of an investment fund mentioned that they see immense growth potential in ETH, with a short-term price target of $6,800.

The narrative of Ethereum as a productive asset and the arrival of institutional capital through ETFs are strengthening its position.

Undoubtedly, the euphoria for ETFs is serving as a crucial catalyst for the entire market.

#Ethereum #ETH $ETH

Disclaimer ⚠️

The information provided in the previous post is for informational and educational purposes only. It should not be interpreted as financial, investment, legal, or tax advice.🚫

Investments in cryptocurrencies and decentralized finance (DeFi) carry significant risks, including the potential total loss of the invested capital.⚠️

Always conduct your own research (DYOR - Do Your Own Research) 🫵🏻