The reasons for the sharp growth of the Ethereum cryptocurrency have become known

The cryptocurrency ETH $3,327.60 Bridged Ether (StarkGate) -3.25% Market capitalization $0.28 billion VOL. 24 hours $1.7 billion showed a sharp jump in value, which was facilitated by several key factors. One of the main reasons was the news of the approval of the world’s first ETF on Ethereum.

TheEthereum ETF, which was approved by the U.S. Securities and Exchange Commission (SEC), has become a significant event for the cryptocurrency market. It opens up new opportunities for institutional investors who will now be able to invest directly in Ethereum. This step is expected to attract significant investments and increase the overall liquidity of the market.

Another important factor is the upgrade of the main altcoin network. Ethereum 2.0 promises significant improvements in network scalability and security. This will reduce transaction costs and improve the speed of operations, making Ethereum more attractive to users and investors.

In addition, there is a growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs) based on the Ethereum network. These technologies are finding more and more applications in various fields, which contributes to the growing demand for Ethereum.

Currently, the value of Ethereum has increased by 15% over the past two weeks, and analysts predict further growth. Investors are positive about the cryptocurrency’s prospects, believing that Ethereum can become a major asset in their portfolios.

Earlier, the K33 Research analytical platform predicted that Ethereum would be able to outperform bitcoin in terms of value growth. This will be made possible by the launch of ETH exchange-traded funds in the United States. The second largest cryptocurrency by market capitalization will receive a new incentive, while the flagship digital asset will face serious sales pressure.