Bitcoin (BTC) surged above $67,000 early Friday, reversing Thursday’s dip below $65,000. This uptick coincides with a resurgence in inflows into spot bitcoin ETFs, marking four consecutive days of positive additions. The week has also been notable for the disclosure of significant BTC ETF holdings by major institutional players. Morgan Stanley, for example, revealed a substantial $269.9 million investment in Grayscale’s GBTC yesterday.
Ether’s Potential for Upside Surprises
While Ethereum (ETH) has underperformed compared to other major digital assets this year, it shows potential for significant upside. The second-largest cryptocurrency, has experienced mixed performance recently but may be on the verge of a significant price surge, according to several prominent analysts. Although it has trailed behind Bitcoin’s gains this year, bullish forecasts suggest that ETH could potentially rally into the five-figure range.The importance of potential U.S. spot ETH ETF approvals, could also have a significant market impact.
Fantom’s FTM Rides High on Sonic Upgrade
Fantom blockchain’s FTM has been one of the best-performing non-meme tokens over the past week, climbing 13% in the past seven days to approximately 81 cents. This boost was buoyed by the market’s positive reception of its Sonic upgrade and increases in total value locked (TVL) on the protocol. The Fantom Foundation has been actively promoting Sonic, its latest upgrade, which is set to enhance transaction speeds to 2,000 transactions per second with a 1.1-second finality, a significant improvement from the just over 2.5 TPS recorded over the past month, on-chain data shows.
