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Recently, the cryptocurrency market has shown a clear trend of polarization. Bitcoin (BTC) and Ethereum (ETH), as mainstream assets favored by American investors, are leading the market upward, while other cryptocurrencies are performing mediocrely. This phenomenon is largely attributed to the growing influence of ETFs (exchange-traded funds) in the market.
Currently, only BTC and ETH have sufficient market depth to absorb large-scale capital inflows. This has led to relatively weak performance of other cryptocurrencies, and unless there is a significant improvement in overall market sentiment, it is difficult to see a noticeable breakthrough.
Looking ahead, industry insiders generally believe that whether the ETF is approved will be a key factor in determining the fate of various encryption currencies. Among the potential candidates for ETF approval, Litecoin (LTC), Ripple (XRP), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) are considered to be the more promising options.
For investors, closely monitoring the ETF progress of these currencies may present potential investment opportunities. However, it is important to note that the cryptocurrency market carries high risks, and investors should proceed with caution, conducting thorough risk assessment and management.