Ethereum

Future

<img decoding="async" width="1280" height="720" src="https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1.webp" class="attachment-full size-full wp-post-image" alt="9 Crucial Ethereum (ETH) Tailwinds Spotted By Bitwise CIO" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1.webp 1280w, https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1-300x169.webp 300w, https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1-1224x689.webp 1224w, https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1-768x432.webp 768w, https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1-678x381.webp 678w, https://coingape.com/wp-content/uploads/2024/06/ethereum-1-1-150x84.webp 150w" sizes="(max-width: 1280px) 100vw, 1280px">
Matt Hougan, the CIO of asset management firm Bitwise has highlighted 9 important Ethereum (ETH) “tailwinds” that investors may need to look out for in the second half of 2024. 
<h2 id="strong-the-future-outlook-of-ethereum-strong">The Future Outlook of Ethereum&nbsp;</h2> 
The Bitwise CIO started with significant demand that may hit the market as a result of Ethereum ETFs when trading commences. The broad cryptocurrency sector is excited about the prospect of the launch of Ethereum ETF trading. <a href="https://coingape.com/breaking-bitwise-files-amended-ethereum-etf-s-1-after-sec-feedback/">Bitwise</a> is also one of the firms awaiting the U.S. SEC to approve the S-1 registrations for trading. Notably, Bitwise CEO <a href="https://coingape.com/bitwise-ceo-hints-at-major-announcement-spot-ether-etf-launch-likely-by-july-4/">Hunter Horsley</a> believes that the approval is close and trading might start before July 4. 
<blockquote class="twitter-tweet"> 
 ETH tailwinds in H2: 
 * Significant New Demand: Pending ETF approval 
 * Constrained Supply: Limited-to-zero net issuance 
 * Improved Regulatory Clarity: Just look at the ETF approval or the SEC dropping its Consensys lawsuit 
 * Radically Improved Throughput; The market doesn’t… 
 — Matt Hougan (@Matt_Hougan) <a rel="nofollow" href="https://twitter.com/Matt_Hougan/status/1804137327964438729?ref_src=twsrc%5Etfw">June 21, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Constrained supply marked the next tailwind outlined by the Bitwise executive. Hougan says this metric is limited to zero net issuance.&nbsp; He also picked regulatory clarity, a subject that ConsenSys has not failed to discuss in recent times. Regulations looks like it could be getting better especially after the SEC dropped its 14-months old Ethereum investigation with <a href="https://coingape.com/consensys-founder-joseph-lubin-sees-end-to-sec-crypto-hostility-very-soon/" target="_blank" rel="noopener">ConsenSys</a>. With this new development, the next half of the year may see more regulatory clarity come into the Ethereum ecosystem. 
Next, Hougan pointed at radically improved throughput that could come when the industry eventually realize the importance of key events. These events include the Dencun upgrade and the rise of Layer 2s (L2) solutions among others. He also sees the rising of some killer app that would contribute to improved throughput. Hougan strongly believes that Coinbase L2 scaling solution Base has played a crucial role in improving the user experience on Ethereum and he hand-picked it as another tailwind to look out for. 
<h2 id="strong-the-role-of-major-corporate-backers-strong">The Role of Major Corporate Backers</h2> 
With firms like <a href="https://coingape.com/markets/ethereum-price-forecast-5000-target-impeding-as-blackrock-submits-s-1-statement-for-spot-ethereum-etf/">BlackRock</a>, and Grayscale Investments now championing major adoption drive in the blockchain industry, the Ethereum ecosystem is likely to see more institutional embrace. Hougan believes that once these institutions make an attempt to embrace public blockchain, Ethereum will be their preferred choice. Most of them plan to do this with spot Ethereum ETFs. 
The other tailwind Hougan highlighted were cycle timing, macro conditions and the November Presidential election. These he believes will serve as a major catalyst to Ethereum adoption. Ethereum is currently trading at $3,504.73 after falling by 0.28%. Only time will test the veracity of Hougan’s insights and its impact on ETH price moving forward. 
Read More: <a href="https://coingape.com/gold-futures-rise-amid-fed-rate-cut-optimism-will-crypto-market-mirror-recovery/" target="_blank" rel="noopener">Gold Futures Rise Amid Fed Rate Cut Optimism, Will Crypto Market Mirror Recovery?</a> 
&nbsp; 
The post <a href="https://coingape.com/9-crucial-ethereum-eth-tailwinds-spotted-by-bitwise-cio/">9 Crucial Ethereum (ETH) Tailwinds Spotted By Bitwise CIO</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

9 Crucial Ethereum (ETH) Tailwinds Spotted By Bitwise CIO

Съдържание

Coingape News Media

Други статии, публикувани на 21.06.2024 г.

Ripple CEO Hails “Big Win” in California

Cryptocurrency Monero Decreases More Than 4% Within 24 hours

Shiba Inu Faces Increased Selling Pressure as Network Activity Declines: What’s Next for SHIB’s P...

CyberConnect Empowers Users with Full Control Over Their Data

FLOKI Unveils New Developments and Strategic Marketing Initiatives

Tokenized US Treasuries Holders Surge To An All-Time High

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!