Ethereum Not Expected to See New All-Time High in 2024, According to Polymarket

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. SEC Delays Decision on Ethereum Options to November
  2. Polymarket Predictions on New Ethereum ATH
  3. Ethereum Price Stabilizes at $2,600-$2,700


    4. Despite a recent 15% rally in Ethereum, its price has settled between $2,600 and $2,700 this week. The largest altcoin has a market cap of $316 billion and has facilitated over $15.7 billion in trading volume over the last 24 hours.

    SEC Delays Decision on Ethereum Options to November

    According to a filing released on September 24, the US Securities and Exchange Commission (SEC) announced a delay in its decision to approve options trading for spot Ethereum ETFs. The decision, originally expected by September 26-27, has been extended to November 10-11 under Section 19(b) (2) of the Securities Exchange Act.

    Polymarket Predictions on New Ethereum ATH

    Following the SEC announcement, the odds of Ethereum reaching a new all-time high (ATH) in 2024 significantly changed on Polymarket. According to the world's largest prediction market, the current odds of Ethereum missing out on a new ATH in 2024 are 85%, compared to 71% a week ago. Only 14% placed bets for a new ATH outcome, and less than 1% had unrealistic hopes for a new ATH within the next five days.

    Ethereum Price Stabilizes at $2,600-$2,700

    After reaching a recent high of $2,702 on Monday, Ethereum has remained sideways over the past 48 hours, indicating a potential period of distribution between buyers and sellers. Since mid-September, Ethereum's price has moved up by 14%, prompting expectations of profit-taking within this range before a potential decline to liquidity lows at $2,500.

    In summary, despite recent market activity and gains, predictions remain pessimistic regarding a new all-time high for Ethereum in 2024.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

ACI Worldwide and Circle Launch USDC Settlement Pilot in Colombia

ACI Worldwide and Circle announced a collaboration to demonstrate USDC settlement integration into existing bank payment systems.

user avatarSatoshi Nakamura

Binance Wallets Drained in Major Security Breach

Wallets linked to Binance were drained of at least $55 billion, raising concerns about the security of decentralized exchanges.

user avatarJesper Sørensen

Decentralized Exchanges Facilitate Fund Swaps in Binance Hack

Decentralized exchanges like Uniswap and Aave are being used to swap frozen stablecoins for Ethereum following the Binance wallet draining incident, complicating recovery efforts.

user avatarRajesh Kumar

Bron Joins Hashgraph Association's Global Membership Program

Selfcustody platform Bron has joined the Hashgraph Association's Global Membership Program to enhance its connection with the Hedera ecosystem.

user avatarLucas Weissmann

Bitwise Asset Management Raises Bitcoin Price Projection to $1.6 Million by 2036

Bitwise Asset Management has raised its long-range Bitcoin price projection to $1.6 million by 2036, reflecting significant growth expectations based on anticipated institutional allocations and demand for scarce assets.

user avatarFilippo Romano

Movantis Integrates Stellar for Enhanced Cross-Border Payments

Movantis and the Stellar Development Foundation announced on October 29 that Stellar will become a settlement option in Movantis' multirail payment network, focusing initially on USDC settlements for transfers from the US to El Salvador.

user avatarEmily Carter

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.