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markets regulator.The spot bitcoin ETF approvals also buoyed ether(ETH)traders, who are betting the token that powers the Ethereum networkcould be next in line.

Boost sales by using AI to enhance product discovery for online shoppers ✌️【Stock】✌️Invest ₹500 and enjoy fast, secure monthly profits. Start now!The ETH price has jumped 10% in 24 hours, while bitcoin added 1.3%.Tokens oflayer 2 networks, which operate as individual blockchains but are ultimately built atop Ethereum, surged as well.

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“The largest smart money inflows” were directed toward the Ethereum ecosystem in the past 24 hours, Nansen analyst Martin Lee said in a Telegram message.

Nansen defines smart money as wallets that trade or invest in a way that is considered experienced or well informed and are usually profitable.Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe.

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