Global #Ethereum

The Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets, has recently expressed its support for Bitcoin (BTC) and Ethereum (ETH) in a research report. The report highlights the growing importance of cryptocurrencies in the global financial landscape and recognizes their potential for future growth.

The cryptocurrency market continues its bearish trend on June 12, 2024, with Bitcoin and major altcoins experiencing further declines. However, the meme coin PEPE is defying the trend, showing a significant price rally.

The Non-Fungible Token (NFT) market is experiencing a significant downturn as crypto investors redirect their attention and funds towards Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs). This shift in investment focus has led to a notable decline in NFT prices and overall market activity.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is experiencing a gradual decline as market pressure intensifies. The cryptocurrency has recently struggled to maintain its upward momentum, with its price slipping below key support levels.

According to a recent analysis by the crypto research firm Santiment, the recent surge in activity by Ethereum whales could be a sign that a bull run is on the horizon for the cryptocurrency market.

While the long-awaited approval of an Ethereum (ETH) exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) is a positive development for the cryptocurrency industry, industry experts caution that it does not necessarily signal a wave of crypto ETF approvals in the near future.