Key points
- The launch of the ethereum ETF is expected to attract institutional investors in Q3 2024.
- Cardano's Chang hard fork aims to implement decentralized governance by the end of July.
Share this article
<img alt="Follow crypto Briefing on Google News” width=”140″ height=”41″ src=”https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png”/><img src="https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png" alt="Follow crypto Briefing on Google News” width=”140″ height=”41″/>
According to the latest edition of IntoTheBlock’s On-chain Insights newsletter, three major catalysts are expected to impact the cryptocurrency market in Q3 2024. The events include the start of trading of ethereum (eth) spot exchange-traded funds (ETFs) in the US, the launch of Uniswap V4, and Cardano’s Chang hard fork.
The ethereum ETF is expected to launch this quarter, which could attract institutional investors. Analysts at IntoTheBlock predict that eth ETF inflows could reach 30% of those seen during the introduction of the bitcoin ETF, which recorded $5 billion in net inflows during its first five months.
As reported by crypto Briefing, the CIO of asset management firm Bitwise predicted that ethereum ETFs could attract $15 billion by the end of 2025.
Uniswap, the largest decentralized exchange by total value locked, is planning to launch its V4 version. This is the second cryptocurrency development that IntoTheBlock analysts see as a potential catalyst for prices in Q3.
In particular, the V4 update introduces “hooks” for customization, dynamic fees, on-chain limit orders, and time-weighted average market maker functionality.
Additionally, Cardano aims to implement the Chang hard fork by the end of July, introducing decentralized, community-driven governance. The Chang upgrade will take place once 70% of staking pool operators have tested and updated their systems.
This is also a development in the cryptocurrency space that could boost prices this quarter, analysts noted.
These developments follow historical trends of catalysts driving asset values. In the month leading up to Cardano’s last hard fork in September 2021, the price of ADA increased by 130%, from $1.35 to $3.10.
The On-chain Insights newsletter also mentions the application for a Solana ETF by bitcoin ETF issuers VanEck and 21Shares, further expanding institutional access to cryptocurrencies. While it is unlikely to be approved in 2024, let alone in Q3, this move could boost investor sentiment.
Share this article
<img alt="Follow crypto Briefing on Google News” width=”140″ height=”41″ src=”https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png”/><img src="https://technicalterrence.com/wp-content/uploads/2024/04/HashKey-Group-to-Launch-Ethereum-Layer-2-Network.png" alt="Follow crypto Briefing on Google News” width=”140″ height=”41″/>
