This Week in Coins Bitcoin Flashes and Fades as ETFs LaunchBut Ethereum Soars Decrypt

Image for article This Week in Coins Bitcoin Flashes and Fades as ETFs LaunchBut Ethereum Soars  Decrypt
News Source : Decrypt

News Summary

  • Ethereum scaling networks also had a strong week, with Arbitrum (ARB) up 22% and Optimism (OP) popping 16%.Elsewhere in the top 5, Binance Coin (BNB) is down just under 2% this week while Solana has posted a 2% gain..
  • But hodlers are still happy to see Bitcoin up over 120% since this time last year.Perennial "distant second" Ethereum saw more green candles, by comparison, buoyed in part by a rise in "wen ETH ETF?".
  • But over the last week, it's up over 14%, and up more than 12% for the last month..
  • One day later, though, and it plunged back to $43,000—a neighborhood where it's been hanging out for quite a while.Trading just below $43,000 now, Bitcoin is down about 2% from where it was seven days ago..
  • After all, Bitcoin spot ETFs aren't exactly new outside the U.S.On the question of up or down, the answer is so far both: The price of Bitcoin flirted across a crowded room with $49,000 when the ETFs were approved..
  • Ethereum hit an 18-month high of nearly $2,700 yesterday.ETH is changing hands at $2,568 today, a rise of about 1% from this time yesterday..
Illustration by Mitchell Preffer for Decrypt.The historical and hotly anticipated approval of Bitcoin spot exchangetraded funds (ETF) this week basically blocked out the sun for the rest of the cr [+1899 chars]

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