Total Crypto Market Cap Hits $4 Trillion, Setting First-Time Record As BlackRock Applies to Add E...

Total crypto market cap hits $4 trillion, setting a first-time ever record

This development occurs just after BlackRock applies to add ETH ETF staking

Approval for ETH ETF staking could be parabolically bullish for ETH price.

The crypto community celebrates a new milestone today as the total crypto market cap hits $4 trillion, setting a first-time record. The fact that this target was hit before the most bullish prices for the ongoing bull cycle adds to the bullish sentiment. Meanwhile, BlackRock applies to add staking to ETH ETF. Upon approval, this could lead to a possibly god-level pump for the price of ETH

Total Crypto Market Cap Hits $4 Trillion

The fact that the total crypto market cap hit $4 trillion today is a massive sign for the expected greater pump in crypto prices in the coming months ahead. So far, several analysts have been anticipating even greater ATHs to arrive for BTC, with cycle top targets being set at $350,000 and $20,000, respectively. Indeed, these are highly bullish targets, but the fact that all signals point to much higher prices is very strong

Despite the fact that Bitcoin is expected to flourish with higher highs, most indicators point to the fact that altseason has almost arrived. One of the biggest signals for this outcome is that Bitcoin Dominance is dropping hard, meaning that ETH and altcoin dominance could take over soon. This, paired with the fact that the price of ETH has been steadily increasing and working its way to its previous ATH price, is very bullish for altcoins

BlackRock Applies to Add ETH ETF Staking

Meanwhile, another highly bullish sign supporting an altcoins takeover led by Ethereum (ETH) is the fact that big whales and reputed institutions like BlackRock have been heavily accumulating ETH. To highlight, last bull cycle, institutions mainly only accumulated ETH. But now, the popularity of ETH and its highly bullish potential has led to greater ETH accumulation amongst heavy ETH buyers.

Many analysts have said so far that ETH is following Bitcoin’s earlier cycles’ bull patterns, meaning an exponential pump is coming for ETH prices. One additional reason behind this exponential pump for ETH price is BlackRock having applied to add ETH ETF staking. The crypto community is eager to see the price of ETH enter a turbo bull market if the approval goes through.

In detail, having ETH ETF staking as an option would mean more active participation in ETH investments from a broader global audience. These options would not only include buying and holding ETH, but also give holders the added opportunity to gain more from their ETH holdings, making ETH ETF an even greater option over BTC ETF investment. Just how high can ETH go this bull cycle?