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

CleanSpark Surpasses 10,500 BTC in Bitcoin Reserves

CleanSpark has achieved a significant milestone by increasing its Bitcoin reserves to over 10,500 BTC, reflecting a strategic shift in its operational model.

user avatarBayarjavkhlan Ganbaatar

Hester Peirce Calls for Cryptography to Enhance Financial Crime Prevention

Hester Peirce advocates for the use of cryptography to improve financial crime prevention, criticizing current data collection practices.

user avatarMohamed Farouk

BlackRock's Tokenized BUIDL Fund Surpasses $550 Million in AUM

BlackRock's tokenized BUIDL fund has reached approximately $552.4 million in assets under management, highlighting its significance in the institutional real-world asset market.

user avatarElias Mukuru

Trump Administration Seeks to Expand Dollar-Backed Stablecoins Globally

The Trump administration is considering an initiative to promote dollar-backed stablecoins internationally to reinforce the dollar's status as the world's reserve currency.

user avatarDiego Alvarez

Lido DAO Executes Vote 206 for Operational Adjustments

Lido DAO has completed Vote 206, focusing on adjustments to stakingrouter and node operator parameters.

user avatarKenji Takahashi

Sui DeFi Ecosystem Surpasses $12 Billion in Total Value Locked

The Sui DeFi ecosystem has exceeded $12 billion in total value locked, marking a significant increase from earlier in the week.

user avatarMaria Fernandez

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.