Ethereum prices surged 15% as Bitcoin ETFs were approved, fueling speculation an Ethereum ETF could follow. Several Ethereum ETF proposals have deadlines in May, so approval may come sooner to avoid a repeat of the Bitcoin ETF saga. Major players like BlackRock seem poised to win any Eth ETF race. This mainstream validation helps cement Ethereum's place as the clear #2 crypto asset.
Other layer 1s like Solana and blockchains like Avalanche are also benefitting from rising credibility of crypto and blockchain. JPMorgan uses Avalanche technology as part of tokenizing assets on public chains. Stablecoin issuer Circle, built on Ethereum, also filed to go public, showing adoption of crypto assets.
Lawmakers appear keen to provide regulatory clarity to further mainstream crypto, with bipartisan legislation in the works. This could reduce arbitrary decisions and direct agencies on how to oversee these assets. However, some still warn banks will lobby to protect profitable legacy systems, impeding defi innovation.
Overall crypto is entering the mainstream consciousness more than ever. Assets like Bitcoin and Ethereum stand to gain new billions in investment from this validation. However, newer cryptos and applications may still outperform as adoption spreads. So staying abreast of developments across both established and emerging projects remains key.
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