Image courtesy of Traxer on Unsplash
Last week, we covered the massive increase in Bitcoin’s price over the last two years. On December 1, 2022, 1 BTC was trading at $17,088, and on December 1, 2024, it was trading at $97,519. Over the last two weeks, it’s been approaching $100K.
In the AGREEN1 search bar, type in ethereum to get update on the 2 years of coverge. The price rise has come thanks to the SEC carefully approving Bitcoin and Ethereum cryptocurrency spot ETF funds.
While still the second-largest cryptocurrency to Bitcoin, Ethereum is just beginning to generate market capitalization and more public recognition. Spot Bitcoin ETFs received SEC approval seven months before spot Ethereum ETFs.
Now the big question is: Will Ethereum experience a spike in price? We do know that Ethereum ETFs outperformed Bitcoin ETFs last week. This amounted to Ethereum’s greatest net inflow, totaling over $466 million in one week.
These SEC approvals in 2024 due to strong interest and applications from all the institutional investors, has made cryptocurrency adoption climb. Some are predicting that Ethereum will be trading over $7,230 by the end of Q1 in 2025. If last week is an omen of the direction Ethereum is heading, it could climb over $7K by April 1, 2025.
