ETH - Breaking Down Ethereum's Big Move and Why History Says It Will Do This Next
2024-05-30 04:23:00 ET
It's been a wild ride for Ethereum (CRYPTO: ETH) over the last few years. Since launching in 2015, the cryptocurrency has grown by nearly 128,000% thanks to its novel smart contracts and dominance of the decentralized finance (DeFi) economy. Yet, as impressive as the last decade has been, its story might just be getting started.
On May 23, the Securities and Exchange Commission (SEC) paved the way for approval of a spot Ethereum exchange-traded fund (ETF). When completed, this process essentially opens up the cryptocurrency to a new set of buyers and puts additional demand on its deflationary supply. Here's why the decision is so historic and what it could mean for the world's second-most valuable cryptocurrency.
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Breaking Down Ethereum's Big Move and Why History Says It Will Do This Next