A post sharing the views of leading cryptocurrency platform Layergg on the Spot Ethereum ETF has been shared, and it seems to have greatly excited investors. With approximately 100 days left for the potential approval countdown, investors are curious about the price direction Ethereum will take during this period and the effects it may have on broader market conditions.
Can Bitcoin Help Boost ETH Price?
Layergg’s analysis suggests that a phased approach could occur in the period leading up to the potential Ethereum Spot ETF approval. In particular, following a recent statement made in X, Layergg provided a detailed view on what could happen after the approval of the Spot Ethereum ETF, examining them in multiple parts.
The platform’s analysis includes the Ethereum Dencun upgrade planned for March 13, which most investors expect to happen shortly.
Following this upgrade, a mini rally effect on the price could emerge. Layergg’s review highlighted the 50% increase witnessed during last year’s Shanghai Upgrade, suggesting it could be repeated.
Looking at the second phase, the critical period for the 7 Ethereum ETFs, which are expected to have a final decision by May 23, is here. Layergg, noting the parallels with Bitcoin‘s ETF approval process, mentioned that an increase of up to 80% in Ethereum’s price could occur before the decision.
However, Layergg also points out that history is filled with downturns before critical events, suggesting a correction could occur.
Events Influencing Ethereum’s Market
Layergg also draws attention to developments and events that could affect Ethereum’s future. Noting that daily entries in Bitcoin ETFs exceeded $500 million, Layergg suggests this could reflect institutional interest in Ethereum ETFs.
Additionally, the increasingly decreasing volume of Ethereum on exchanges, coupled with expectations for upcoming projects like LayerZero, could create potential supply and demand, raising prices.
Meanwhile, the demand for Ethereum staking continues to grow day by day. In this context, Layergg indicates that participation exceeding 50% could occur after a potential ETF approval. Layergg highlights that a “crypto dividend-paying ETF” could be a focus of interest for traditional finance investors, suggesting it could open a new door for investors.
