Ethereum $ETH is on the brink of a supply shortage, which could accelerate the growth of the cryptocurrency's price. This opinion was shared by Michael Novogratz, CEO of Galaxy Digital.
Institutional demand for ETH is growing at a rapid pace. Companies like Sharplink Gaming and BitMine Immersion Technologies already hold hundreds of thousands of coins worth billions of dollars in their reserves. New players are on the way.
This concentration of held ETH creates a potential supply shortage that could lead to an increase in the price of Ethereum. According to him, the coin will appreciate faster than Bitcoin in the next three to six months.
