Demex Daily #158: Ether Rises 10% to $3,400 on Improved SEC ETF Approval Odds

What’s Interesting Today:

The price of Ether soared by 10% to $3,400 after Bloomberg ETF analysts significantly raised their expectations for U.S. SEC approval of spot ETH ETFs from 25% to 75%. This news comes as the SEC approaches final deadlines for these decisions, which had been widely anticipated to result in rejections. Alongside Ether, Bitcoin and the Grayscale Ethereum Trust also experienced notable increases in value.


Moonbeam Network, a Polkadot parachain compatible with Ethereum, launched the 'Moonrise' initiative as part of its next development phase. The initiative features a full brand redesign and a detailed 2024 product roadmap. Key updates include enhancing the core protocol to boost throughput by eight times, integrating Ethereum's Dencun update, optimizing governance, revamping the Moonriver canary network with Axelar bridging, and introducing a zkAuth program for Web2 authentication.