As a researcher with a background in cryptocurrency analysis, I find Arthur Cheong’s prediction intriguing. His perspective, as a prominent figure in the crypto industry and founder of DeFiance Capital, carries significant weight. The potential for ETH to reach $4,500 before the launch of spot Ethereum ETFs is a bold call, but one that aligns with the historical trajectory of Bitcoin following its ETF approvals.
In a May 26 post on X, Arthur Cheong, the founder of DeFiance Capital, expressed his belief that Ethereum (ETH) could reach a price of $4,500 or more prior to the official launch of spot Exchange-Traded Funds (ETFs).
4.5k before spot ETF go live for trading imo.
— Arthur (@Arthur_0x) May 26, 2024
According to cryptocurrency analyst Rekt Capital, Ethereum (ETH) needs to finish the week with a closing price above $3,956 in order to potentially surpass $4,000.
Previously, Bitcoin displayed a comparable trend, surging more than 70% to fresh records approximately two months after gaining regulatory approval for an ETF. If Ether adheres to this historical precedent, it may hit new heights around $6,000 by the close of July.
As a crypto investor, I’m excited to see the growing financial activity on Ethereum’s Layer-2 networks. The total value locked is nearing an all-time high of $47 billion. With Ethereum boasting a market cap of $469 billion, there’s a palpable sense of optimism among investors and major stakeholders alike. Institutional investments could potentially surge following recent ETF approvals, making this an intriguing time to be part of the Ethereum ecosystem.
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2024-05-27 12:52