Ethereum Is The Biggest Winner In Post-ETF Approval Market: Glassnode

Ethereum stands out as the top performer in the post-ETF approval market, according to on-chain analytics firm Glassnode. While Bitcoin has struggled since the approval of spot ETFs, Ethereum has gained momentum and outperformed both Bitcoin and altcoins. The overall cryptocurrency sector has experienced a net rise since the announcement of ETF filings. However, Glassnode notes that Ethereum’s relative momentum has been sluggish, underperforming the wider altcoin space by -17%. Despite this, Ethereum’s market cap dominance has increased against Bitcoin, with a 2.9% rise since the approval of BTC spot ETFs. In terms of market share, Ethereum has gained the most among cryptocurrencies, with a 4.2% increase in global dominance. At the time of writing, Ethereum is trading at around $2,230, with a 1% increase in the last 24 hours.