 ▲ Ethereum/Source: ChatGPT generated image |
As Ethereum (ETH) overcomes regulatory uncertainty and expectations for the launch of a spot ETF grow, analysts say the outlook for long-term price growth is optimistic. Recently, Laura Brookover, head of litigation at ConsenSys, an Ethereum infrastructure developer, said in an interview with CNBC that the company will continue its litigation with the U.S. Securities and Exchange Commission (SEC), foreshadowing an ongoing fight for regulatory clarity.
ConsenSys stated that despite the SEC ending its investigation into Ethereum 2.0, there is still a lack of regulatory clarity. Currently, ConsenSys is pursuing a lawsuit with the SEC regarding Wealth Notices' notification that MetaMask's products violated securities laws. Despite this situation, the positive outlook for Ethereum continues.
Expectations for the launch of a spot ETF are rising as major asset management companies such as Blackrock and Fidelity have submitted revised ETH spot ETF securities reports. BlackRock specified $10 million as seed funding, and Fidelity set approximately $4.75 million as seed funding. This movement is increasing accumulation activity among long-term holders of Ethereum, thereby raising expectations for a price rise.
Cryptocurrency market data platform Into the Block said, “While long-term Bitcoin holding addresses are selling, Ethereum long-term holding addresses are continuously accumulating,” adding, “Ethereum holding profits are increasing due to profit opportunities such as DeFi.” and analyzed. In addition, Ethereum's staking rate reaches 27.5% of the total supply, showing that demand is steadily increasing.
“The SEC’s conclusion of its investigation into Ethereum 2.0 could set a precedent for regulators around the world, which will have a positive impact on the price of Ethereum in the long term,” said Connor O’Neill, community leader at investment analytics firm Block Circle. expected. Additionally, as the possibility of approval for the ETH spot ETF increases, expectations for a rise in the price of Ethereum are also growing.
In this situation, QCP Capital, a Singapore-based cryptocurrency trading company, said, “Large purchases of ETH call options are taking place,” and “Even if only a portion of the funds flowing into the BTC ETF flow into the ETH ETF, the price of Ethereum could rise to $4,800.” “It can be done,” he predicted.
Ethereum is optimistically expected to see a long-term price rise as it overcomes regulatory uncertainty and adds to expectations of the launch of a spot ETF. This positive atmosphere is expected to further strengthen investor confidence in the future of Ethereum.
According to CoinMarketCap, a global cryptocurrency market relay site, as of 8:44 a.m. on June 22 (Korean time), the price of Ethereum, the second-largest coin by market cap, is recording $3,517.
