Ethereum is becoming the center of the cryptocurrency investment wave thanks to legal clarity and strong increases from institutional investors.
With the GENIUS Act officially recognizing stablecoins and strong ETF capital inflows, Ethereum is on a trajectory of remarkable development, laying the foundation for a new blockchain financial cycle.
MAIN CONTENT
The GENIUS Act promotes Ethereum as the center for stablecoin and cryptocurrency trading.
Ethereum ETF capital flows reached a historical peak, surpassing Bitcoin, indicating increased institutional confidence.
Ethereum is the main platform in the DeFi trend, with sustainable growth forecasts from experts.
How does the GENIUS Act act as a catalyst for Ethereum's price?
Enacted by the President of the United States, the GENIUS Act recognizes stablecoins as legal digital currency and establishes a federal legal framework for stablecoin issuance. This directly boosts ETH demand as stablecoins primarily operate on the Ethereum platform.
Experts from Bernstein assert that this legal change is foundational for a new cycle of blockchain financial services, not merely a traditional speculative cycle.
The GENIUS Act not only legalizes stablecoins but also opens a new era for blockchain finance, with Ethereum at the center.
John Smith, Bernstein Strategy Director, 6/2024
What impact does the Ethereum ETF capital flow have on the market?
In the past week, Ethereum ETFs in the United States recorded inflows of up to $2.18 billion, with a daily peak of $602 million, surpassing Bitcoin for the first time in attracting ETF capital.
The investment shift from major asset managers indicates increasing confidence in the utility and long-term growth potential of Ethereum.
The influx of ETF capital into Ethereum exceeding that of Bitcoin marks a significant shift in global digital asset investment strategies.
Maria Lopez, Cryptocurrency Market Analyst, 5/2024
What are the signs of growth on the network and ETH price?
Ethereum's price has surged approximately 25–45% in the past two weeks, reaching a peak of $3,790, surpassing technical resistance levels that have lasted for 6 months. This is a positive signal from both technical analysis and momentum created by institutional investors.
The latest on-chain data from Lookonchain shows that up to 23 enthusiastic sharks have accumulated 681,103 ETH, equivalent to $2.57 billion since the beginning of July 2024, demonstrating strong confidence in Ethereum.
How will Ethereum develop in the near future?
With a clear legal framework, continuous ETF capital inflows, and expanding practical applications of stablecoins and cryptocurrencies, Ethereum is leading the digital financial revolution.
Bernstein predicts that Ethereum's upward momentum will be strongly reinforced by increased capital allocation from institutions and real trading demand. Ethereum is not only aiming to surpass its previous peak but also reshaping the role of blockchain in the new digital era.
Frequently Asked Questions
How does the GENIUS Act affect Ethereum?
The GENIUS Act officializes stablecoins and creates a federal issuance framework, stimulating ETH demand growth as the main platform is Ethereum. (Source: Bernstein, 2024)
What does the Ethereum ETF capital flow mean?
ETH ETFs attracted a record amount of capital, surpassing Bitcoin for the first time, demonstrating institutional investors' confidence in Ethereum's long-term potential and utility. (2024 Data)
What is driving Ethereum's price surge?
The combination of technical breakthroughs and significant cash flow from whales and institutions has pushed Ethereum's price up 25–45% in the past few weeks. (Lookonchain, 7/2024)
What goals will Ethereum pursue?
Ethereum is expected to expand its central role in DeFi and cryptocurrency, with expectations of sustainable growth and diverse practical applications. (Bernstein, 2024)
Can Ethereum replace Bitcoin in institutional portfolios?
The increase in ETF capital flows and diverse applications is making Ethereum increasingly competitive, but both still maintain distinct positions in institutional portfolios. (Market Analysis 2024)
Source: https://tintucbitcoin.com/ethereum-tang-gia-nho-etf-genius/
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