Ethereum’s sell-off on positive news is a typical “buy the rumours, sell the facts” reaction of speculators. We saw the same in January after the approval of the Bitcoin ETF, which took 19% off its price in the following two weeks before there was a spectacular reversal.
As a result of another recalculation, the difficulty of mining the first cryptocurrency increased by 1.48% to 84.38 T. The average hash rate for the period since the previous value change was 705 EH/s. Despite the increase, the complexity did not recover the indicator’s collapse by almost 6%, which followed the halving.The US SEC has approved the launch of Ethereum spot ETFs, according to a document uploaded on the agency’s website.
According to Nansen, the total market capitalisation of stablecoins has surpassed $160 billion, up $30 billion since the start of the year. The growth means “new money” is flowing into the segment, which is bullish.