📊↖️Is Ethereum still a winning deal? An executive at Standard Chartered says Ethereum is "cheap" and ready to rise↪️📝
⚪The head of digital asset research at Standard Chartered says that Ethereum still has room to rise,🔺 even after recent price volatility.🔺 According to Jeffrey Kendrick, increasing institutional demand and shrinking exchange liquidity are reducing supply,🔺 and could push Ethereum towards its year-end target of $7,500.✔️📊
◀️Rise in institutional demand📶⏏️
⚪Reports revealed that digital asset management firms bought about 2.5% of the circulating Ethereum since June🔻. The value of Ethereum exchange-traded funds has increased by about 5% during the same period.✔️📊
⚪Based on these numbers,🔺 nearly 7.5% of the supply has been invested in corporate treasury bonds and exchange-traded funds since June🔺, which is a significant shift in a relatively short period.🔻 Kendrick expects these firms to eventually hold up to 10% of the total circulating Ether🔺, which supports his optimistic outlook.✔️📊
🔁Follow for the latest updates 📝
