Institutional Interest in Ethereum
If the Ethereum spot ETF experiences accumulation similar to Bitcoin, it could help the Ethereum price surge forward in a very short time. The same experience was recorded for Bitcoin when institutional capital inflow drove the cryptocurrency’s price to a new all-time high (ATH) above $73,000 in March.
Many cryptocurrency analysts suggested that the only condition for ETH to surpass its previous ATH of $4,891.70 is the full launch of the spot Ethereum ETF product. In the best-case scenario, Standard Chartered suggests that the cryptocurrency could rise to $8,000 by the end of this year.
Besides the spot ETF product, Ethereum could also have different fundamentals that could help increase its price in the long term. Ethereum is innovating remarkably with various upgrades and innovations to ensure the best performance of Layer-2 protocols.
According to experts, when all these factors come together, there is a possibility that Ethereum’s price could break free from its current stagnant trend and start a mega rally forward.
