Eric Trump, the Executive Vice President of the Trump Organization, confirmed that Ethereum is "undervalued," and its price will reach $8000 soon. $ETH $BTC $SOL

Data showed that Ethereum’s performance closely follows global liquidity trends, indicating that rising levels of money supply (M2) are a strong indicator of the potential for significant gains in the cryptocurrency.

According to June data, the money supply in the United States increased by 4.5% year-on-year, reaching $22.02 trillion, the highest growth rate since mid-2022.

Analyst Ted Belous believes that this expansion in liquidity means that Ethereum must have already surpassed the $8000 mark.

Eric Trump supported this view, emphasizing the strength of the fundamentals underlying Ethereum, along with the increasing institutional demand, which enhances the expectations of a significant jump in the price of the world's second-largest cryptocurrency.

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Source: CoinTelegarph+BitGet