Ethereum extends rally on ETF Inflows and Blob upgrade, but RSI flags caution

TL;DR:

Ethereum ETF inflows and whale accumulation boost the ETH price rally. The BPO hard fork has raised the blob limit, improving Ethereum scalability.

Key Points:

Background:

Exchange-Traded Funds (ETFs) are investment vehicles that track cryptocurrency prices and trade on traditional stock exchanges. Bitcoin and Ethereum ETF approvals have been major milestones for crypto adoption, allowing institutional and retail investors to gain exposure without directly holding digital assets.

Why It Matters:

ETF approvals are significant because they provide regulated access to cryptocurrency investments for traditional finance investors, potentially bringing billions in new capital to the crypto market. They also signal regulatory acceptance and legitimization of digital assets as an investment class.