Ethereum Poised for $4,000 in Q3, Driven by Key Catalysts
Crypto investor Ted Pillows suggests Ethereum (ETH) could reach $4,000 by the third quarter, citing three significant factors attracting institutional attention.
Firstly, a recent meeting between BlackRock and the SEC reportedly focused on enabling ETH staking within ETFs. If approved, this would offer institutional investors passive yields of 4-5%, potentially funneling billions into Ethereum and driving up its price.
Secondly, SharpLink Gaming, a NASDAQ-listed company, is actively seeking to raise $1 billion to acquire ETH. This kind of large-scale accumulation by a public entity could significantly boost Ethereum's value.
Finally, Pillows highlighted the potential for Ethereum's network scalability. According to Vitalik Buterin, the network could become 10 times faster, which would likely increase demand and positively impact the price.
Currently, CoinMarketCap data shows Ethereum trading between $2,480 and $2,780. Despite a 2.4% drop on the weekly chart, the price has maintained its support levels.
