#Btc #Bnb #Eth What Will Happen If Ethereum ETF Is Approved: Former Goldman Sachs Executive Explained!
Raoul Pal, a former manager of US banking giant Goldman Sachs, touched upon what could happen if spot Ethereum ETFs are approved.
The US Securities and Exchange Commission (SEC) contacted institutions that wanted to issue the spot Ethereum ETF on May 20 and accelerated the process, which had a positive impact on the market.
Adding to the excitement, Bloomberg's top analysts increased the probability of approval from 25% to 75%. This optimistic outlook caused the price of Ethereum to increase by more than 20% in just one day.
Making a statement on the subject, Raoul Pal, a former manager of Goldman Sachs, drew a rising scenario for the Ethereum price.
Pal emphasized that in a scenario of massive demand for the ETF, if 30% of Ethereum is staking and ongoing burns deeply reduce the supply, it could lead to a situation he calls “banana zone squared.”
This term refers to a period of rapid rises and market volatility that occurs due to rapid crypto adoption and significant increases in market capitalization: Another thing I've been talking about for a while: If there is a huge demand for the ETF and 30% remains equity (outside the market) and What happens to the price of ETH if burning makes the supply deeply negative as activity increases? It can create a “banana zone squared”…