The much-anticipated Bitcoin ETF went live on Thursday. The massive institutional interest in BTC spot ETFs also resulted in a fresh 52-week high for Ethereum price as crypto investors betted on the ETH spot ETF approval. Solana (SOL), Ripple (XRP), Binance Coin (BNB) and Arbitrum (ARB) remained one of the most traded altcoins on Friday open.
On their exchange debut, the 11 Exchange Traded Products of Bitcoin collectively experienced a record trading volume of $4.6 billion. This pointed toward an insatiable demand for the pioneering digital asset among the institutional investors operating in traditional finance.
On Friday, ETH price was up 0.7% in the initial couple of hours as BTC remained stuck at $46,134 after a rejection from $49,000 in its previous session. At the same time, SUI emerged as the pick of altcoins with 20.5% gains in the last 24 hours.
However, Solana (SOL) price disappointed its investors once again as the smart contract cryptocurrency struggled to break above the key psychological level of $100. At press time, SOL was down 1.3% for the day and 2.3% for the week.
As shown in the following chart, the ETH to USD price has broken above its $2,560 resistance level. Two consecutive daily closures above this level are pointing toward a bullish continuation in the coming days. Based on the technical analysis, $3,000 could become a valid price prediction if the broader market sentiment remains favorable.
After soaring to 1.15%, its highest level since May 2023, the SUI price was changing hands at $1.10 on Friday morning. The smart contract layer 1 protocol is experiencing a constant increase in the total locked value (TVL) on its blockchain. DeFi Llama shows that the TVL has surged above $265 million, a record high for the SUI ecosystem.
Lido (LDO) price has started to show weakness after an incredible 52% gain in January 2024. Currently, the price is down almost 11% as altcoins continue to bleed, and Total 4 market cap remans in a downtrend. However, this may change soon as Ethereum price start rallying again.
Technical analysis reveals that LDO is facing resistance at $3.88 level which comes from a previous pivot on the weekly chart. A break above this level might result in a bullish continuation for the price of the liquid staking protocol.
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