CryptoQuant CEO: Multiple positive factors may boost ETH price
CryptoQuant founder and CEO Ki Young Ju shared some bullish views on ETH on the X platform:
1. There was no significant selling pressure after the hacking incident. On-chain data and market data remain neutral. It takes time for exchanges to sell, and off-exchange sales have little impact on prices.
2. Ethereum occupies 56% of the stablecoin market share. With Trump's relaxation of cryptocurrency regulation, more companies may use Ethereum-based stablecoins and smart contracts by 2025.
3. The ETH spot ETF has been approved. Regulatory benefits could trigger a "large-scale ETF copycat season", driving up ETH this year.
4. Whales are accumulating: Wallet balances of 10K-100K ETH have grown by 24% over the past year, mainly from wallets with less than 1K ETH. Current prices are close to the cost basis of these accumulation addresses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Founders Fund reduces its Bitmine holdings by half, currently holding approximately 2.547 million shares.
Trending news
MoreSEC Chairman: A "token taxonomy" will be developed based on the Howey investment contract securities analysis
Data: In the past 24 hours, total liquidations across the network reached $268 millions, with long positions liquidated for $174 millions and short positions liquidated for $93.5061 millions.
Crypto prices
More
