Crypto Weekly (05/20 – 05/26): Ethereum ETF Gets Approved

Last week, the crypto market welcomed an extremely exciting news when the Ethereum ETF was officially approved, following in the footsteps of the Bitcoin ETF, opening a major new chapter for the crypto community.

Ethereum Etf Gets Approved Azc

Crypto Market Last Week

Last week, Bitcoin continued its impressive recovery from the $66,000 level at the start of the week, rising to the $71,000 zone (just over $1,000 away from the peak) and currently trading around $68,500. The reason for this strong price surge was the official approval of the Ethereum ETF by the U.S. Securities and Exchange Commission (SEC).

Chart Btc
Chart BTC

In a highly surprising and remarkable turn of events, within just a few days, the SEC completely reversed its stance on Ethereum, going from implying that this cryptocurrency is a security to preliminarily approving 8 proposals for Ethereum spot ETFs from major Wall Street names. This decision has become the driving force behind the remarkable growth of Ethereum and tokens in the Ethereum ecosystem last week, reviving investor enthusiasm after a relatively gloomy May.

Chart Eth
Chart ETH

Along with Ethereum, most other altcoins also experienced a strong recovery, thanks to the flow of money shifting from Bitcoin to altcoins.

Top 10 Coins with Highest Gains Last Week

Up Crypto

Source: Coinmarketcap

Top 10 Coins with Highest Losses Last Week

Token Unlock

Source: Coinmarketcap

Important News Last Week

Token Unlocks This Week

This week, a few projects are unlocking large amounts, such as: OP unlocking $79M, DYDX unlocking $361M

Token Unlock

Source: token.unlock

Macro News This Week

This week is expected to have little important information. However, as has become the norm, at 12:30 pm (UTC) on Thursday (May 30, 2024), the Initial Jobless Claims data will be released. If this number is higher than forecast, it will be a negative signal for the US dollar, and conversely, if it is lower than forecast, it will support the greenback.

Market reactions to such important economic data usually have a significant impact on exchange rate fluctuations, so investors and traders need to monitor it closely to make appropriate investment decisions.

Don’t forget to follow us to stay updated on the hottest crypto market news!


  1. Avatar of Shamsuddeen


Leave a Reply

Your email address will not be published. Required fields are marked *


What Is Zksync Information About Zk Token

Editor Choice | research | Research

What is zkSync? Information about ZK Token

One of the most prominent projects in the realm of Layer 2 is zkSync, which is considered a solution comparable to Arbitrum and Optimism. So, what is zkSync? Is ZK token worth investing in? Let's find out!

How To Participate In The Memefi Airdrop

Airdrops | Editor Choice

How to Participate in the MemeFi Airdrop

Guide to Participate in Memefi Airdrop on Telegram - A Game Developed Similar to Notcoin and Heavily Supported by the Super Project - Linear Network.

How To Participate In The Fhenix Airdrop

Airdrops | Editor Choice

How to Participate in the Fhenix Airdrop

Fhenix is a Layer-2 solution for Ethereum that has successfully raised 22 million USD from various prominent investors. Join AZCNews in participating in the Fhenix Airdrop today!

Binance Announces Mew Memecoin Listing On Binance Futures

Editor Choice | Altcoin

Binance Announces MEW Memecoin Listing on Binance Futures

Binance Exchange Announces Listing of Cat in a Dogs World (MEW) - A Memecoin Developed on Solana, on Binance Futures.

Azcnews Eth Drops Sharply As Whales Increase Accumulation

News | Altcoin | Editor Choice

ETH Drops Sharply as Whales Increase Accumulation

Ethereum whales have accumulated substantial amounts of ETH over the past few days. Despite these developments, the price has remained stagnant.