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ethereum (eth) is up 7% as US multinational holding company Franklin Templeton joins the spot exchange-traded fund (ETF) race. Meanwhile, eTukTuk is gaining pace as its pre-sale approaches $1 million.
ETF Hype Boosts ethereum
A combination of improvements in overall market conditions and ethereum-specific bullish news has boosted ethereum's price, providing ammunition for analysts to be optimistic about what lies ahead.
In the last 24 hours, Franklin Templeton became the latest Wall Street firm to file for an ethereum spot ETF. However, the news has been particularly interesting as the institution wants to incorporate bets into the ETF, which will allow investors to earn additional returns.
The innovative move is a major milestone for the crypto industry as it shows its ability to revamp the traditional financial system in real time.
The $1.5 trillion asset manager sent the ETF's filing on February 12, 2024 with the U.S. Securities and Exchange Commission (SEC). If the application is approved, the ETF will be named “ETF FRANKLIN ethereum“.
Renowned ETF analyst James Seyffart aware on X's filing, noting that Franklin Templeton has joined the race and providing an updated list of current applicants and their deadlines.
According to Seyffart data, the earliest deadline for ETF approval is March 10, 2024.
In addition to the ethereum ETF spot filing, broader market conditions have also benefited the second most valuable coin, with the total crypto market capitalization rising 4.32% at the time of writing, according to CoinGecko. data.
The ripple effect of these factors has boosted eth prices, lifting them above the key resistance level.
In response, analysts are optimistic, with Trading Joker suggestion This could mark the beginning of ethereum's bull run.
He then outlined additional catalysts that could contribute to the rally; these are spot ETFs, a liquidity rotation from Solana to ethereum, EigenLayer reducing the available supply of eth, and ethereum's deflationary mechanism.
The analyst believes that eth can reach $19,000 by mid-2025.
Meanwhile, analyst Michael van de Poppe took a more micro perspective, speculating a breakout could send eth towards $3,500.
At the time, eth was trading at $2.48k, but has since jumped to $2.66k.
However, ethereum is not the only asset that is seeing success in the current market conditions.
Many newer coins are also posting gains. The pre-sale of eTukTuk is already approaching a million dollars.
He eTukTuk pre-sale approaches $1 million
He crypto-news.care/?referrer=ethereum-price-rises-as-franklin-templeton-files-for-etf-and-new-green-crypto-etuktuk-also-gains” target=”_blank” rel=”noopener”>eTukTuk The project aims to address global climate change.
It is an electric vehicle distributor and a decentralized sharing economy.
The project will deploy zero-emission tuk tuks in developing countries along with strategically located charging stations.
The project has set its sights on Sri Lanka, partnering with the country's largest private company, Capital Maharaja Group.
eTukTuk will also collaborate with territorial partners who will install and maintain the charging infrastructure, ensuring the operational success of the protocol.
In addition to solving the pressing problems of climate change, eTukTuk also offers safe, low-cost transportation for everyone. Your whitepaper Explain that 1.4 billion adults are unbanked and cannot access essential financial services.
With eTukTuk anyone can create a wallet and easily access the network. Furthermore, eTukTuk was launched on the BNB chain for fast and affordable transactions.
The project integrates ai in numerous ways, from optimizing transportation routes to predictive maintenance of physical infrastructure, ensuring equipment longevity.
eTukTuk pre-sale is in its early stages. The token is available for $0.0265, but this will increase as the pre-sale progresses. Investors can stake and get 288% APY.
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