Leading Trader Asserts an Ethereum ETF Could Catapult Altcoins into the Stratosphere – Reveals His Number One Choice
2 min read
A prominent figure in the cryptocurrency trading community predicts that the approval of an Ethereum (ETH) spot exchange-traded fund (ETF) in the U.S. could propel altcoins to unprecedented heights.
The enigmatic expert known as the Flow Horse has informed his sizeable audience of 216,300 on the X social network that should a spot ETH ETF be sanctioned, the crypto markets will become even more tumultuous.
“Contemplating a laid-back summer with spot, yet the advent of an ETH ETF would bring a mighty surge, hitting hard AF.”
The notable analyst also highlights that the well-known meme cryptocurrency Dogecoin (DOGE) has been “occupying an attractive position for a while,” as he mentions.
At the moment of writing, DOGE is valued at $0.169. Ranking 9th in market capitalization among cryptos, it has seen an approximate 11% increase within the last 24 hours.
The Flow Horse has also drawn attention to the chart depicting Ethereum’s open interest, which he regards as “pretty wild,” according to his statements.
“No judgement towards anyone considering reducing their leverage after seeing this. The most optimistic **short term** scenario could be that passive sellers didn’t adapt swiftly enough and are currently in the red.”
Currently, ETH’s price is $3,749, with the asset occupying the second position in market cap among cryptocurrencies. It has seen almost a 20% increase in the past day.
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