
KEY POINTS
- CryptoQuant's Ho said a spike in U.S. ETH demand on Coinbase "triggered" the Ether price's upward action
- Crypto watchers are anticipating the SEC's decision regarding spot ETH ETFs
- Some analysts have expressed optimism that spot Ether ETFs will also get approved
The recent 11% rally of Ether (ETH) was driven by a spike in demand among U.S. investors, data from local exchange activity tracker CryptoQuant showed.