The demand from institutional investors for digital assets increased significantly as they digested the news of the US Senate’s agreement to end the long-awaited 40-day shutdown.
The Sunday service is a day of rest and reflection. US Senate advanced A procedural vote is required to end the Government Shutdown. According to Senate officials, the Senate expects to hold the final postcloture vote on Monday. schedule.
After the release of this report, cryptocurrency markets have seen a slight rebound. Starknet is a network of independent, non-profit organizations.STRKThe largest winner on the day was the token, which rose 43%. Trump-backed World Liberty Financial (WLFI), token up 28% within the last 24 hour, as per CoinMarketCap data.
As the shutdown of government nears its end, it may lead to a reduction in the “financial uncertainty” Nicolai Sndergaard told Cointelegraph, “Global investors will be more interested in crypto and this could fuel a market recovery.”
“For weeks, markets were effectively operating in the dark, key economic data releases, policy updates, and regulatory processes were all frozen during the shutdown.”
When the government resumes operation, investors will be able to invest. “price in real fundamentals rather than speculation,” Due to the government shutdown, Sondergaard said that key releases supported by federal agencies had been canceled.
Related: James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours
The prospect of the US Government shutdown ending has prompted institutions to restart Ether accumulation.
Investors have begun buying Ether again following news that the shutdown could end in 40 days.ETHThe average growth rate of spot orders is used to calculate the accumulation.
Ethereum could be about to enter a phase of rapid growth. “low-volatility accumulation” If Ether prices manage to stay above $3,000-$3,400, according Crypto intelligence platform CryptoQuant.
The incoming Bitcoin will determine the overall market’s recovery.BTCThe recovery of the Ether ETF and Ether (the currency) will determine whether or not this will be a sustainable one. “sustained institutional demand rather than just retail or short-term flows,” According to a report provided by Cointelegraph, the Laser Digital trading desk of Nomura Group is a leader in derivatives.
Related: Michael Saylor’s Strategy kickstarts November with $45M Bitcoin buy
The end of the government shutdown is near, and altcoin ETFs are on their way up. “floodgates”
Nate Geraci is an ETF expert who sees the closure of crypto exchanges as a good development. This will allow ETFs to flood the market.
“Government shutdown ending = spot crypto ETF floodgates opening,” wrote Geraci in a Monday X postThe first spot of XRP may even be introduced.XRPETFs under Securities Act of 1933
It would also make 21Shares the fourth exchange-traded altcoin product to be launched under Act of 1933. Under the same framework the spot Bitcoin ETFs and Ether ETFs have also been approved, but they are listed under Securities Exchange Act of 1933, which is a law that requires an exchange to be supervised.
Minimum 16 crypto ETF applications The approval process is currently being delayed. US government shutdownIt is now the 40th day of.
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling — Joseph Chalom
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Source: cointelegraph.com
