Why has ETH been criticized this year? A helpless Adou

What will be the subsequent trend of Ethereum this year?

Let's take a look at Coinbase's research report and analysis conclusions

Coinbase said in a research report released on Wednesday that Ethereum has underperformed the entire cryptocurrency market this year, but its long-term positioning remains strong and there is a possibility of unexpected gains.

And pointed out that the cryptocurrency does not have a "major source of supply-side excess", which simply means that there is no pressure caused by token unlocking or miner selling.

On the contrary, both staking and Layer2 growth have proven to be important and growing ways to consume ETH liquidity.

In our view, ETH's position as the center of DeFi is unlikely to be replaced by the widespread adoption of Ethereum EVM and its Layer2 innovations.

In addition, Coinbase said that the importance of a potential US Ethereum ETF cannot be ignored, "believing that the market may underestimate the timing and likelihood of potential approval, which leaves room for unexpected gains.

Even if the first deadline of May 23, 2024 is rejected, we believe that litigation is likely to overturn this decision. In the meantime, we believe that ETH's structural demand drivers and technological innovation within its ecosystem will enable it to continue to cross multiple narratives."

The above is Coinbase's analysis of the current situation of Ethereum and the situation in the future.

I personally think this view is very objective!

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