$7,000 Still Targetable by ETH This Year
Ether once reached an all-time high price of US$ 4,955.23, before slightly correcting to around US$ 4,630. According to Luke Nolan from CoinShares, this wave of increase is not speculative action but rather driven by the influx of institutional capital and supportive macro conditions, including expectations of interest rate cuts by the Federal Reserve.
Additionally, the passage of the GENIUS Act—the first stablecoin regulation in the US—is expected to accelerate the adoption of stablecoins on the Ethereum blockchain. This could trigger a large issuance of stablecoins, strengthening the Ethereum ecosystem, which currently dominates more than half of the stablecoin market with a value of around US$ 145 billion.
However, the psychological barrier at the US$ 6,000 level remains a challenge according to Pauline Shangett from ChangeNOW.
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