According to BlockBeats, ZhuSu, the former founder of Three Arrows Capital, has made a notable forecast regarding the cryptocurrency market's trajectory. He predicts that the upcoming weekend will be a pivotal moment. ZhuSu has disclosed his strategy to decrease his holdings in TAO and MKR, opting instead to acquire LDO at $2.48 and BLUR at $0.467.

Furthermore, ZhuSu plans to sell SOL at $165 and purchase ETH at $3,800, targeting an exchange rate of 0.0434 with an aim to sell once the rate falls below 0.03. He also intends to sell BTC at $69,200 and buy ETH at $3,800, aiming for an exchange rate of 0.055, with a goal of exceeding a rate of 0.07. ZhuSu believes that Ethereum will dominate the market over the next 90 days.

These strategic adjustments and predictions highlight a shift in focus towards Ethereum, suggesting its potential emergence as a leading force in the cryptocurrency market. However, it is important to note that these are predictions, and actual market performance may differ.










Former Three Arrows Capital Founder Predicts Ethereum-Dominated Market

Odaily reports: Ethereum Layer 2 project Kinto has started deposit and withdrawal services on platform X. They plan to add more liquidity and assets soon. Last year, Kinto raised $5 million from investors like Kyber Capital Crypto, SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane, and Robot Ventures. The funding will help them expand their services.

CryptoPotato reports: Bitcoin and other cryptocurrencies saw a significant rise last week, mainly due to the anticipation and approval of spot Ethereum ETFs in the US. Among large altcoins, UNI, PEPE, LDO, and ETH had the biggest gains. Bitcoin struggled to stay above $66,000 but ended the week close to $72,000, a six-week high, amid reports that the SEC might approve eight spot Ethereum ETFs. Despite a mid-week drop, Bitcoin recovered to $69,000 by Friday. The weekend was calm, with Bitcoin holding steady at $69,000, a market cap near $1.370 trillion, and dominance over altcoins at 50.3%. Ethereum's token, ETH, jumped from $3,100 to over $3,900, its highest since April. DOGE, LINK, and APT also saw gains, with UNI up 44% to over $11 and PEPE hitting several all-time highs. Conversely, SOL, TRX, TON, and ADA saw weekly losses. The total crypto market cap rose by over $200 billion, now exceeding $2.7 trillion, thanks to the impact of the Ethereum ETF approvals.

Bitcoin and Ethereum Propel Market Surge Following US Approval of Spot ETFs

The U.S. Securities and Exchange Commission (SEC) has unexpectedly approved the launch of spot Ethereum ETFs, marking a notable shift in its previous position. This decision involves the acceptance of 19b-4 filings from several prominent issuers, including BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.

This approval follows the SEC's earlier decision in January 2024 to allow spot Bitcoin ETFs. While there was speculation about Ethereum ETFs receiving approval, the SEC had remained silent until this week. Starting on Monday, the SEC began actively engaging with issuers, instructing them to submit revised filings.

Despite the approval of the 19b-4 forms, ETF issuers must still have their S-1 registration statements become effective before trading can commence. This additional step could take anywhere from a few weeks to several months.

The SEC's decision is viewed as a significant win for the cryptocurrency sector. Following the announcement, Ethereum's price increased by nearly 2%. However, analysts predict that Ethereum ETFs might initially attract fewer assets compared to Bitcoin ETFs, with an estimated $5-8 billion in inflows versus Bitcoin's $14 billion.

The approval comes amidst ongoing debates over whether Ethereum should be classified as a security and concerns about staking. In response, ETF issuers have removed staking from their applications to address these issues.

Crypto

Former Three Arrows Capital Founder Predicts Ethereum-Dominated Market

Bitcoin and Ethereum Propel Market Surge Following US Approval of Spot ETFs

SEC has approved the launch of spot Ethereum ETFs