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The price of Ethereum ETH $2,482.24 Ethereum -0.82% Market capitalization $299.56 billion VOL. 24 hours $0.85 billion is approaching $ 4,000. The crypto asset’s rate increased by 5% over the day, and crypto experts suggest that this is the result of the approval of spot ETH-ETFs.
It also gave ETH a 27.5% increase over the past week, eclipsing bitcoin BTC $79,088.31 Bitcoin 0.24% Market capitalization $1.59 trillion VOL. 24 hours $1.3 billion . The market leader rose by only 3.8% over the same period.
In his post on the X platform on May 26, DeFiance Capital founder Arthur Chong predicted that ETH would reach $ 4,500 before spot ETFs were even launched.
He conducted a survey among his followers, asking how much ETH was allocated in his followers' portfolios. Almost half of the 5,800 respondents had between zero and 25%.
Meanwhile, according to DefiLlama, the total value of decentralized finance (DeFi) has returned to its highest level in the last two years — $ 117 billion, 60% of which is locked in the Ethereum network.