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Wednesday, February 28, 2024

dYdX Beats Uniswap, Bitcoin Outlook Dour

Ether (ETH) might be poised to soar in 2024 on the again of hopes of a spot ETH ETF itemizing, analysts at Coinbase (COIN) have mentioned. ETH reached its highest worth since Could 2022 following the approval of bitcoin ETFs within the U.S. final week. A number of of the companies behind BTC ETFs, reminiscent of BlackRock and VanEck, are plotting related merchandise for ETH, Coinbase mentioned in a weekly e-newsletter. Apart from ETF hopes, Ethereum’s upcoming Dencun improve, which goals to enhance the mainnet’s scalability, might provoke investor curiosity in ETH. Institutional crypto agency ETC Group mentioned in its annual report that ether has a bullish outlook given Ethereum’s ongoing standing as essentially the most dominant blockchain for DeFi and the additional returns customers can accrue by staking their cash.

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