The U.S. government has officially classified Bitcoin, Ethereum, and Cardano as 'mature blockchains.' This has prompted a significant surge in the prices of tokens associated with these blockchains globally, and as altcoins continue to perform well in the mainstream, market activity has also noticeably intensified. That said, Ethereum (ETH) especially shows signs of recovery, which could help it soar to the ambitious $4,000 mark. Can Ethereum regain its former glory before the monetary cycle ends? Let's wait and see.
The U.S. classifies Bitcoin, Ethereum, and Cardano as mature blockchains.
The recently enacted CLARITY Act designates three blockchains as 'mature' chains, including Bitcoin, Ethereum, and Cardano. These blockchains are referred to as mature chains due to their decentralization and token distribution elements, leading to a frenzy of interest in these tokens.
Among them, Ethereum, in particular, is once again receiving mainstream attention. With the recent positive momentum in the cryptocurrency market, Bitcoin surged to $120,000, and Ethereum followed suit. Three cryptocurrency bills have now been approved in the U.S., bringing strong price momentum to the market. As BlackRock recently acquired ETH, it also gained attention and soared.
Additionally, Ethereum's price is expected to rise significantly and may break through the coveted $4,000 mark.
What exactly is this $4,000 analysis?
With the United States officially recognizing ETH as one of the leading mature blockchains, the token has begun to show an extremely high price trend. According to Ted Pillows, the token is currently in a repeating phase of the 2016-17 cycle. This development could ultimately help its price soar above $4,000.
History does not repeat itself, but it often remarkably resembles itself. ETH is on the same path as the 2016-17 cycle. Once it breaks through $4,000, you will see a stronger rebound.
Meanwhile, as major players and institutions in the U.S. begin to actively explore ETH, the accumulation of ETH is also increasing.
