Ethereum ETF Hype Spills Over To Ethereum Classic
Bitcoin is still down from 21-month highs set shortly after the SEC botched its spot ETF announcement on Tuesday. In contrast, Ethereum is skyrocketing.
Ether (ETH) has rallied more than 16% in that time, making it the year-to-date best performing top-20 cryptocurrency by market capitalization. Bitcoin (BTC) is currently in second place, with roughly half the returns.
Markets sold the news one day early due to the SEC’s unauthorised announcement, but appear to have bought the rumour on ether ETFs.
Ethereum Classic (ETC) — the original Ethereum hard fork ranked 25th — is having a moment. The blockchain’s native token, ETC, has increased by nearly 50% in the last day.
(With inputs from Shikha Singh)
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