What is the next step for Ethereum after the ETF is passed?
The spot Ethereum ETF has finally made its debut, and the initial trading volume is quite eye-catching. It seems that the market response is enthusiastic.
It is a bit surprising that ETH has started to go downhill after the launch of the ETF. Let's talk about the reasons behind this today.
First of all, I have to say that ETH is not as glorious as BTC this time. There may be two "little secrets". First, the launch of the spot ETH ETF is actually a bit like "all good news is bad news". Everyone has been looking forward to it for a long time, but as soon as the news came out, those friends who have been waiting to buy ETH have already started, and the rest are waiting to sell at a good price, so the market reaction is a bit weak.
Second, Grayscale's $9 billion Ethereum Trust Fund has locked up ETH for several years. Now that the chain is unlocked, many people are eager to cash out, and the supply of ETH in the market has increased suddenly, and the price naturally comes down.
When will this decline end? You can refer to the experience of BTC. When the spot BTC ETF came out, it also fell first and then rose, and it bottomed out in about two weeks. After a few days of hesitation, it directly hit a new high. If ETH can be so lucky, the premise is that someone must buy the ETF and funds must flow in.
ETH is still a little pressure in the short term. But don't worry, Ethereum still has two big moves waiting!
The first big move is the approval of Ethereum ETF pledge. If this thing is successful, buying ETFs can not only make money from Ethereum, but also earn some pledge interest. Although it is not much, a mosquito leg is also meat. Especially for those large institutions, this little sweetness may be enough to make them prefer ETH a little more.
The second big move is the Pectra hard fork, which is another major upgrade of Ethereum. At that time, Ethereum's account address will be more flexible and more convenient to use. For example, you can send many transactions at a time, the wallet can help you retrieve the password, and the dApp can directly help you pay the gas fee. These changes are all to make Ethereum easier to use and attract more people to use it.
In general, although ETH has fallen a bit now, it is still worth looking forward to in the future.Let’s wait and see whether these two big moves can make ETH fly again!
