Ethereum has gained almost 50% in the last two months.Institutional investors are piling into Ethereum.Analysts predict a new all-time high is on the horizon.<\/p>\n
After more than a year of being sidelined by memecoins and rival blockchains, Ethereum is finally picking up momentum.<\/p>\n
Fresh off an almost 50% uptick in the last 60 days, market analysts say there\u2019s more room for the price to grow.<\/p>\n
\u201cThe current big rises on the [Ether] chart are the result of investors already pricing in the rise of Ethereum,\u201d Mateusz Kara, CEO of Ari10, a crypto payment company, said in comments shared with DL News.<\/p>\n
\u201cAn [Ethereum] price of $7,000 no longer seems unrealistic.\u201d<\/p>\n
Ethereum traded for $3,600 on Friday, about 50% below Kara\u2019s target, which would also be a new all-time high. Ethereum\u2019s current price record is the $4,878 achieved four years ago.<\/p>\n
Ethereum\u2019s current price uptick comes amid a crypto rally that has seen the overall industry break the $4 trillion barrier for the first time.<\/p>\n
The second biggest cryptocurrency has enjoyed a steady inflow of institutional capital via exchange-traded funds<\/a> and its adoption as a corporate treasury reserve asset, just like Bitcoin.<\/p>\n Companies like SharpLink Gaming and Bitmine have begun acquiring Ethereum<\/a> for their corporate balance sheets, a move which analysts say is indicative of the asset\u2019s broadening appeal among institutional investors.<\/p>\n \u201cThe preference for assets like [Ethereum] also speaks to the growing demand for yield by the buyers of many corporate treasury vehicles,\u201d Coinbase analysts wrote in a report<\/a> on Friday.<\/p>\n But they aren\u2019t simply buying Ethereum<\/a> to diversify their corporate holdings, but also to earn yield.<\/p>\n \u201cMany of these companies have committed to staking their [Ethereum] to earn yield, and some are even locking up their supply via DeFi integration, reflecting a fundamental shift from speculative trading to strategic asset allocation,\u201d the Coinbase report stated.<\/p>\n And Ethereum could gain even more momentum with the passage of the Genius Act<\/a> by the US Congress. <\/p>\n The landmark bill provides some regulatory clarity for stablecoins, and could spark a bigger Ethereum renaissance, according to some market participants.<\/p>\n That\u2019s because Ethereum\u2019s blockchain commands the largest share of stablecoin activity, almost half of the $259 billion market, according to DefiLlama<\/a> data.<\/p>\n Kara said the passage of the Genius Act presents a \u201cgreat opportunity\u201d that could \u201csignificantly increase the valuations of blockchains that are home to stablecoins.\u201d<\/p>\n Coinbase analysts said that realisation could even be one of the factors driving increased corporate appetite for Ethereum.<\/p>\n They said Ethereum has established itself as a viable asset to \u201cexpress a view on the theme of stablecoins and tokenisation,\u201d which is why at least 10 Ethereum-dedicated corporate treasuries have accumulated about $2.5 billion worth of the cryptocurrency.<\/p>\n Osato Avan-Nomayo<\/a> is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Ethereum has gained almost 50% in the last two months.Institutional investors are piling into Ethereum.Analysts predict a new…\n","protected":false},"author":2,"featured_media":23511,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,15406,112],"class_list":{"0":"post-23510","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-ethereum","10":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/23510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=23510"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/23510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/23511"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=23510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=23510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=23510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}