When will Ethereum "rise up" again?
I just looked at the price of the coin, and Ethereum has returned to around 3,000. So far in this round of bull market, the trend of Ethereum can be said to be unexpectedly "bad"! It has always been decadent. The former king of copycats is now being complained as a "junk coin".
How will Ethereum perform in the future this year?
I studied Coinbase's report over the weekend and shared the conclusion with everyone.
1) Ethereum has performed worse than the entire cryptocurrency market this year, but its long-term positioning remains strong and may see unexpected increases.
2) The importance of the US Ethereum ETF cannot be ignored. The market has seriously underestimated the possibility of approval, which leaves room for subsequent unexpected increases.
3) Even after the Ethereum ETF was rejected on May 23, the possibility of overturning this decision through litigation still exists. Therefore, Ethereum's technological innovation and structural demand will enable it to cross multiple narratives in the future.
In summary, Coinbase is still bullish on Ethereum as a whole, and believes that it is not as bad as the current trend looks. There will be many narratives and possibilities in the future. After all, its technological accumulation and huge user base are the foundation of everything.
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