Can ETH still rise? This is the soul-searching question that the leeks have asked in this bull market. As of December 27, 2024, the price of ETH is still hovering around 3,300 points. Watching BTC hit new highs all the way, ETH has not even touched the high of 4,800 points in November 2021. Over the past year, it has tried to hit 4,000 points many times, but failed every time. In this bull market, everyone hopes to make ten or a hundred times more, but holding ETH feels like you have missed most of the bull market, and if you continue to hold it, you will miss the entire bull market.
Does ETH still have a chance in this bull market? Can it still rise sharply? Let's analyze it from two aspects:
1. Application and ecology of ETH
ETH is known as the king of altcoins and the king of public chains, and its ecosystem has penetrated into every corner of the crypto world. Although new public chains such as Solana, SUI, AVAX, and TON have also performed well, ETH's position in areas such as DEFI (decentralized finance), RWA (real-world assets), stablecoins, and NFTs (non-fungible tokens) is still unshakable. Many big funds and Wall Street bigwigs have invested a lot of money in ETH, and their plans have already started before. This means that a lot of funds and plans have been laid out in advance, just waiting for a certain condition to be triggered, and ETH will start to rise.
So far, only BTC and ETH have been included in spot ETFs, and with the advent of Finance 2.0, ETH will provide these institutions with a lot of room for development. Many large institutions choose ETH as the basis for their Web3 business, which will undoubtedly make the price of ETH rise in the long run.
2. Policy of ETH Spot ETF
Currently, the ETH spot ETF policy does not allow staking, which means that investors cannot obtain the benefits of staking and have to pay management fees. This makes many funds unwilling to flow in, making ETFs less attractive.
However, with Trump taking office, future policies may change, allowing ETF customers to obtain staking income. Currently, the annualized yield of ETH staking is about 4%. If future policies allow, coupled with the trend of interest rate cuts, the attractiveness of ETH spot ETFs may exceed that of BTC. Investors can not only enjoy the benefits of rising coin prices brought about by the growth of the ETH ecosystem, but also obtain staking interest, which is equivalent to making money without doing anything.
It is reported that as of December 24, the total net inflow of US Ethereum spot ETFs reached 2.51 billion US dollars, and the total net asset value reached 12.35 billion US dollars. On December 5, the net inflow reached 428 million US dollars, setting a historical record. Among the US Ethereum spot ETFs, the Grayscale ETF has the highest net asset value, reaching 4.91 billion US dollars, followed by BlackRock's ETF, with a net asset value of 3.65 billion US dollars. The two together account for 69.3% of the total assets of US Ethereum spot ETFs.
Therefore, if this policy changes, it will bring a lot of funds to ETH and even the entire cryptocurrency market, and the ETH-related ecosystem will be completely activated. Maybe the current downturn in the ETH market is just waiting for this opportunity to come.
Judging from the above two points, ETH still has many opportunities in this bull market. It is possible to break through the previous high or even reach 10,000 points. It seems that it is still a good time to get on board now?
Finally, I would like to say that if Ethereum rises, some related memes on the Ethereum chain, such as puppies, will also usher in a new wave of increases.
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