🟢 Daily Analysis of the Crypto Market (20.05.2024)🔥

🟢 Yesterday (20.05) the market was quite excited by the news about the likely approval of ETFs (Investment Funds) at $ETH in cash, in the USA.

🟢 The main source, although there were others, was from Bloomberg ETF Analyst, Erich Balchunas, who projected a 75% probability of approval for ETH ETFs, revising his previous projection of 25%.

🟢It's worth remembering that he hit the nail on the head about the approval of BTC ETFs on 01/11/2024.

🟢 Investment funds are always very positive for market performance. It's not just another piece of news like any other. Billions and billions of dollars are injected into the market, increasing liquidity and increasing the price of assets, in the short, medium and long term.

🟢 The ETH token appreciated by 25% on average in less than 24 hours.

🟢 Likely scenarios:

1- Explosion of growth in the price of ETH, benefiting the entire market, but mainly the Altcoins of the #ethereum ecosystem, such as #Optimisim and #Arbitrum , #lido . $ARB

2- Explosion of growth in the price of ETH; surpassing the altcoins in its ecosystem.

Obviously, the entire crypto market benefits from these catalytic events.

🟢 Additionally, tokens like $PENDLE can benefit greatly as they use ETH tokens in their protocol's liquid restoring structure.

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