The long-awaited arrival of a Bitcoin spot ETF in the US has sparked a surge in cryptocurrency prices, with Ethereum Classic leading the charge among altcoins.
After languishing around $20 for months, Ethereum Classic (ETC) has skyrocketed over 50% in the past seven days, currently hovering around $29.45 and just a breath away from reclaiming the $30 mark.
This impressive rally comes amidst a broader market upswing triggered by the Securities and Exchange Commission’s (SEC) historic approval of the Bitcoin Trust ETF on January 10th, 2024.
Ethereum Classic Surge: A Combination Of Factors
ETF-fueled optimism: The approval of the Bitcoin spot ETF signifies increased institutional interest in the crypto market, a development that traditionally benefits the entire ecosystem, including altcoins like ETC. This optimism is reflected in the strong performance of other major cryptocurrencies, with Ethereum witnessing a 10% climb and briefly hitting a 20-month high above $2,600.
Ethereum Clas
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