The rumors of the approval of the Bitcoin ETF not only had a positive impact on the king of cryptocurrencies but also attracted the price of Phantom (FTM) with a jump of over 20% in just two days.
What happen?
The first US Bitcoin ETF, owned by ProShares is rumored to be approved tomorrow according to local time. This means that, under the BITO ticker, the ETF will start trading on Tuesday.
Bitcoin Reaction (BTC)
The announcement was made on Friday, bringing the positive movement of BTC from a daily low, $ 56,827.84 to a daily high, $ 62,941.59 on October 15 with a 10.71%jump.
At the time of writing, BTC is trading at $ 62,414.37, up nearly 3% in 24 hours. Only 3.78% left before the asset returns to an all -time high (ATH) recorded in April 2021 - $ 64,863.10
Phantom Reaction (FTM)
FTM posted a 23.47% increase from a daily low, $ 1.89 on Oct. 15 to a daily high, $ 2.34 on Oct. 17.
This asset only needs around 8.51% before re -touching ATH on Oct. 8 - $ 2.45.
Factors to Phantom Enhancement (FTM)
Arguably since early 2021, the Phantom network has been in the spotlight. Earlier this year, the FTM price record was just $ 0.017 before recording a jump of over 13,000% throughout the year.
The details of this exciting movement can be assessed as follows:
Mid -August
Phantom has integrated with Chainlink to operate more secure DeFi services on the network.
At that time, the price of FTM was only $ 0.4.
Early October
Yearn Finance has integrated with Phantom for a space launch for users to lock in FTM and staking rewards.
When the FTM writing traded at $ 2.21, it jumped nearly 5% in 24 hours.
