Weekly Institutional Insights — Ether Spot ETF Sees Hope of Approval; Outperformers: ONDO, ENS, EDU
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Crypto Insights
May 27, 2024
5 min read
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May 27, 2024: Broader equity markets continued to test all-time highs, particularly after NVIDIA impressed the market with its quarterly reports on Thursday. Meanwhile, the SEC's shift in attitude toward approving an Ether Spot ETF sparked widespread optimism in the cryptocurrency market. Bitcoin climbed above $70,000 at the beginning of the week, but has since fallen back to around $68,000. Ether, on the other hand, outperformed Bitcoin during the week, reversing the declining BTC/ETH price ratio.
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Macro Outlooks
Consumers Seeing Inflation Tempered, and NVIDIA Impresses Market Again