ChainCatcher message, 1confirmation founder Nick Tomaino posted on X stating, "The biggest question for any investor regarding ETH is: Is it more like BTC, or is it more like XRP, ADA, SOL, and other altcoins? BTC extremists believe ETH is just another altcoin, while altcoin supporters argue that ETH is closer to them, but with inferior technology.1confirmation will continue to double down on ETH, as the only two credible, neutral, and sufficiently decentralized ecosystems in the world are Bitcoin and Ethereum. This gives them unique social scalability. The market may not care about social scalability in the short term, but in the long run, it will become crucial."

ChainCatcher news, according to The Block, cryptocurrency market maker QCP Capital analyzes that ahead of the upcoming Ethereum ETF, the price of ETH has been continuously rising, with an increase of 35% over the past two weeks, currently approaching $4000.QCP Capital states that this price trend may stem from comments made by former U.S. President and current leading Republican candidate for 2024, Donald Trump, over the weekend in support of cryptocurrencies, and notes that "from the price trend, market participants seem to show bullish sentiment towards ETH rather than BTC, especially once the ETH spot ETF begins trading, there will be potential institutional demand."