{"id":21337,"date":"2024-05-27T12:00:34","date_gmt":"2024-05-27T09:00:34","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21337"},"modified":"2024-05-27T11:47:54","modified_gmt":"2024-05-27T08:47:54","slug":"ether-closing-in-on-4000-as-post-etf-hopes-surge","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/","title":{"rendered":"Ether Closing in on $4,000 as Post-ETF Hopes Surge"},"content":{"rendered":"<p>The <strong>ETH price<\/strong> was seen hovering just $70 away from the $4,000 price mark in the early trade of May 27, which was a 5% appreciation over the last 24 hours. The data also revealed that ETH has hit a high of $3,930 within the day. This price level is reminiscent of the same move that occurred some days ago when spot <strong>Ether ETFs<\/strong> were approved on May 23, which resulted in a significant %27.5 increase over the past week. On the other hand,<a href=\"https:\/\/coinengineer.net\/blog\/trump-pledges-bitcoin-leadership-in-2024-campaign\/\"> Bitcoin (BTC)<\/a> has risen only 3 percent.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/#Analyst_Predictions_and_Market_Reactions\" title=\"Analyst Predictions and Market Reactions\">Analyst Predictions and Market Reactions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/#Future_Prospects_and_Broader_Impacts\" title=\"Future Prospects and Broader Impacts\">Future Prospects and Broader Impacts<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Predictions_and_Market_Reactions\"><\/span>Analyst Predictions and Market Reactions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The weekly rise of such magnitude has invited numerous positive sentiments from market analysts. On May 27, Matthew Hyland, an analyst, posted to his 143K followers on X that <strong>ETH<\/strong> has formed a bullish divergence and has broken the downtrend with a higher volume, which could lead to further upward action. Consequently, DeFiance Capital founder Arthur Cheong in his May 26 post stated that ETH may hit $4,500 before the appearance of spot ETFs. He pointed out that <strong>ETH<\/strong> is severely underweight in portfolios, as evidenced by a survey conducted among 5,800 participants, 48% of which invested in ETH between 0% and 25% of their portfolios.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Future_Prospects_and_Broader_Impacts\"><\/span>Future Prospects and Broader Impacts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/institutional-demand-for-ethereum-etfs-might-fall-short\/\">Ethereum<\/a> tutor Anthony Sassano contributed to the speculation by stating that MicroStrategy CEO Michael Saylor may invest in ETH within the next six to twelve months. In the past, BTC prices rose by more than 70% to hit an all-time high in the two months after the spot BTC ETF approvals in the United States. If Ether rises in a similar manner, it might surge to around $6,000 per coin by the end of July.<\/p>\n<p>Ether has continued to perform well, as has the rest of the crypto market as well. Total value locked in DeFi now stands at $117 billion, the highest level since February 2021 and 60% of this amount is locked on Ethereum, as per data from DefiLlama. Also, Ethereum layer-2 solutions have aggregated TVL, which is approximately $47 billion as of now, according to L2beat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ETH price was seen hovering just $70 away from the $4,000 price mark in the early trade of May 27, which was a 5% appreciation over the last 24 hours. The data also revealed that ETH has hit a high of $3,930 within the day. This price level is reminiscent of the same move<\/p>\n","protected":false},"author":6,"featured_media":16737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[5423,105],"class_list":["post-21337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-ether-etf","tag-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ether Closing in on $4,000 as Post-ETF Hopes Surge<\/title>\n<meta name=\"description\" content=\"Ether approaches the $4,000 mark, driven by post-ETF approval optimism and a 27.5% weekly gain. Analysts predict further highs, with broader impacts on the DeFi ecosystem.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ether Closing in on $4,000 as Post-ETF Hopes Surge\" \/>\n<meta property=\"og:description\" content=\"Ether approaches the $4,000 mark, driven by post-ETF approval optimism and a 27.5% weekly gain. Analysts predict further highs, with broader impacts on the DeFi ecosystem.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-27T09:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-27T08:47:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/tempory-118.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/\",\"name\":\"Ether Closing in on $4,000 as Post-ETF Hopes Surge\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ether-closing-in-on-4000-as-post-etf-hopes-surge\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/tempory-118.jpg\",\"datePublished\":\"2024-05-27T09:00:34+00:00\",\"dateModified\":\"2024-05-27T08:47:54+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Ether approaches the $4,000 mark, driven by post-ETF approval optimism and a 27.5% weekly gain. 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