Ethereum ($ETH ), the second-largest cryptocurrency by market cap, is trading at **$3,450**, up **2.3%** in the past 24 hours despite broader market fluctuations. Analysts attribute this stability to growing optimism around Ethereumโs upcoming network upgrades and increasing institutional interest.
๐ **Key Developments:**
๐น **ETF Approval Hopes Rise** โ The SEC may soon decide on spot Ethereum ETFs, with Bloomberg analysts now giving a **35% chance** of approval by July. This follows the recent success of Bitcoin ETFs.
๐น **Ethereum Layer-2 Growth** โ Networks like Arbitrum and Optimism continue gaining traction, reducing congestion and fees on the mainnet. Total value locked (TVL) in L2s now exceeds **$38 billion**.
๐น **Institutional Inflows** โ Ethereum investment products saw **$30M in inflows** last week, signaling renewed confidence after months of outflows.
๐๐ป*Whatโs Next?**
All eyes are on:
โ **Potential ETF approvals** โ A green light could trigger a major rally.
โ **EIP-7702** โ An upcoming upgrade to improve account abstraction and UX.
โ **ETH vs. BTC Performance** โ ETH has gained **12%** against Bitcoin since May.
๐*Market Sentiment**
While short-term volatility persists, long-term holders remain bullish due to Ethereumโs dominance in DeFi, NFTs, and institutional adoption. #crytotypes101 #CEXvsDEX101๐ฅ #Ethereum 
