What seemed impossible just three months ago is now a reality. The launch of the first-ever spot Ethereum exchange-traded funds has begun trading in the U.S. exchanges. Ethereum’s growing influence over traditional finance is evident as its flag symbolically flies over Wall Street, hinting at a significant shift in regulatory power.
Flag of ETH is ALL Over Wall Street
Balaji, a well-known crypto enthusiast, recently tweeted that the “flag of ETH is raised over Wall Street,” highlighting Ethereum’s growing impact in traditional finance. His tweet suggests that Ethereum’s importance is rising, with the SEC yielding to a more powerful force.
Ethereum is now seen as a key player, offering standardized market access to users globally. This change indicates a new era where decentralized networks like Ethereum could challenge traditional state regulators.
As blockchain technology gains influence, it might redefine market access, providing more inclusive opportunities and challenging existing financial systems and regulations. However, Ethereum’s growing role in finance could attract more participants, potentially increasing market activity and innovation.
Wall Street Prediction On Ethereum
Wall Street is buzzing with different predictions for Ethereum now that ETH ETFs are live in the U.S. Standard Chartered analyst Geoff Kendrick believes Ether could reach $8,000 by the end of the year.
In contrast, JP Morgan, a global financial leader, has set a target of $14,000 for Ethereum by 2025. They cite Ethereum’s potential as the core of the DeFi ecosystem, and its smart contract capabilities.
On the other hand, Steno Research forecasts a net inflow of $15 billion to $20 billion into Ethereum in the first year, despite expected outflows from the Grayscale Ethereum Trust. This strong anticipated inflow, combined with other factors, leads Steno Research to predict that Ethereum could hit at least $6,500 later this year.
ETH Finding Support AT $3400
The launch of the Ethereum ETF has aroused significant movement in Ethereum’s price. Recently, Ethereum is trading around $3,269, before consolidating within a narrow range of $3,650 to $3,550 over the weekend.
This suggests a strong support level of around $3,400, reflecting investor confidence and market resilience.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed