The long-awaited ETH EFT is finally here. Several reports estimate the open-day trading volume to be above $1 billion.
However, the crypto market has failed to react positively to this trend, as it is down by over 2% in the last 24 hours. Additionally, all cryptocurrencies in the top 10 are down by a few percent except Ether as it’s in the green but with no notable price change.
Amidst the small price decline across the crypto market, Ethereum products are seeing significant increases. Other assets like HNT and MEW are up by over 5%.
With the underwhelming market reaction, how will it perform in the next five days?
Top Five Cryptocurrencies
BTC/USD
Bitcoin is off to a bad start this week. It has failed to register any notable price increases due to consistent price decline over the last 48 hours. It stopped in its tracks after failing to hold prices above $68k.
A contributing factor to the most recent change is the latest BTC move from one wallet to another by MT. Gox. The move sparked a lot of panic across the crypto market.