 ▲ Ethereum (ETH) |
Although Ethereum (ETH) trading prices continue to fall, some are confident that it will remain strong.
Coindesk, a media outlet specializing in cryptocurrency, cited data analysis results from Amberdata and reported that there was a significant increase in buying activity for $4,000 call options on Ethereum expiring in September on the virtual asset exchange Deribit.
Greg Magadini, head of derivatives at Amberdata, predicted, “If the Ethereum purchase amount exceeds $4,000, there will be an opportunity to test a new high.”
Andrew Kang, founder of mechanism capital, a cryptocurrency investment analysis company, also raised a bullish prediction that Ethereum will surpass its all-time high.
According to blockchain specialized media NewsBTC, Kang mentioned that the U.S. Securities and Exchange Commission's (SEC) approval review of the Ethereum spot exchange-traded fund (ETF) has limited Ethereum's upward trend, and that it is expected to reach $6,000 by September this year. It was predicted that
On the other hand, Patrick Scott, a veteran cryptocurrency analyst known as Dynamo DeFi, said in an interview with Cointelegraph that it is unlikely that the price of Ethereum tokens will rise significantly immediately after the approval of the Ethereum spot ETF. did.
Before the launch of the Ethereum spot ETF, a sharp decline in the Ethereum trading price was presented as the only condition for the trading price to rise at a relatively faster rate than Bitcoin.
In addition, Scott also questioned the possibility that institutional investors who were purchasing Bitcoin spot ETFs would turn their attention to investing in Ethereum spot ETFs.
