The year 2023 was marked by expectations for ETFs in the cryptocurrency market. The process gained momentum towards the end of the year and culminated in the approval of spot Bitcoin ETFs on January 10. This led to price movements in the market, resulting in an ATH in March, and increased discussions about spot Ethereum ETFs. The Ethereum ETF was finally approved on May 23 after a period of uncertainty. VanEck had something to say about Ethereum.
What Will Be the Price of Ethereum?
Spot Bitcoin ETF and Spot Ethereum ETFs played a significant role in the process, and VanEck, a $90 billion asset management company, made an important announcement. The announcement concerned the future of Ethereum.
The announcement was very encouraging for Ethereum investors. Following recent comments suggesting that Ethereum ETFs might not have the expected impact, VanEck made a statement. The company pointed to the year 2030 and predicted that the price of Ethereum could reach $22,000 by then.
Significant developments occurred before and after the SEC approval of Ethereum ETFs on May 23. In approximately three days, the price of Ethereum rose from below $3,000 to nearly $4,000.
Considering that Ethereum’s ATH was $4,891 on November 21, 2021, it is not wrong to say that this prediction by the company is currently optimistic. However, given the changing economic conditions, this scenario is always possible.
What is the Price of Ethereum in TL?
Amidst all these developments, attention was also on the price of Ethereum. After a 1.48% increase in the last 24 hours, the price of Ethereum is at $3,864. In the ETH/TRY pair, the price is seen to be around 124,500 TL.
ETH’s market cap also increased with the price rise. The market cap surpassed $464 billion after a 1.51% increase, moving away from the critical $450 billion level.
In addition to the price and overall market cap increase, a rise in the 24-hour trading volume was also observed. The 24-hour trading volume increased by 14%, surpassing $15.2 billion, indicating investor interest.
