en.bitcoinsistemi.com
While BTC's reaction remained limited after the SEC's spot Bitcoin ETF approval, altcoins recorded nice increases.
At this point, while altcoins such as Etherum ($ETH), Ethereum Classic ($ETC) and Arbitrum ($ARB) attracted attention with their rise, Santiment examined $ETC.
While $ETH increased by 8% in the last 24 hours, $ETC increased by 31% and $ARB increased by 14%.
$ETC rose above $26 for the first time since October 2022, with its rise following the spot Bitcoin ETF approval announcement.
Stating that this rise was due to the increase in $ETC trade volume, Santiment said that investors showed great interest in $ETC.
Commenting on whether $ETC's rise and investor interest will continue, Santiment said that despite the increase in transaction volume, $ETC sentiment is neutral for now, and it is not clear whether the rise will continue or not.
“Ethereum Classic experienced a rapid breakout following the Bitcoin ETF announcement, rising above $26 for the first time since October 2022.
The increase in price is due to the increase in $ETC trading volume and indicates great interest from investors.
“Despite the increase in trading volume, investors' sentiment towards $ETC remains neutral for now.”
$ETC continues to trade at $27.96 at the time of writing.
📈 #EthereumClassic has blasted off following the #BitcoinETF announcement, reaching above $26 for the first time since October, 2022. Trading volume has surged, indicating major trader interest. However, $ETC sentiment still appears neutral for now. https://t.co/LhebnauCQX pic.twitter.com/wEf3ujmqH6
— Santiment (@santimentfeed) January 11, 2024
*This is not investment advice.