Bitcoin (BTC) rose above $67,000 early on Friday, reversing Thursday’s dip below $65,000. This uptick coincides with a resurgence in inflows into spot bitcoin ETFs, marking four straight days of positive additions. The week was also notable for the disclosure of significant BTC ETF holdings by major institutional players. Morgan Stanley, for example, unveiled one substantial investment of $269.9 million in Grayscale’s GBTC yesterday.
Ether’s potential for upside surprises
While Ethereum (ETH) underperformed compared to other major digital assets this year, it shows the potential for significant upside. The second-largest cryptocurrency has shown mixed performance lately, but may be on the cusp of a significant price increase, according to several prominent analysts. Although it has lagged Bitcoin’s gains this year, bullish forecasts suggest ETH could potentially rise into the five-digit range. The importance of potential US ETH ETF approvals could also have a significant impact on the market.
Fantom’s FTM is riding high on Sonic Upgrade
Fantom’s FTM blockchain has been one of the best performing non-meme tokens over the past week, rising 13% over the past seven days to around 81 cents. This boost was supported by the positive market reception of the Sonic upgrade and the increase in the overall value captured on the protocol. The Fantom Foundation has been actively promoting Sonic, its latest upgrade, which will increase transaction speed to 2,000 transactions per second with a finality of 1.1 seconds, a significant improvement from the just over 2.5 TPS achieved last month registered, on-chain data shows.