Ethereum

2024

Epic

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The crypto space is buzzing as the deadline for the SEC's decision on the spot&nbsp;<a href="https://u.today/49-trillion-fidelity-pushes-for-ethereum-spot-etf-approval" rel="noopener noreferrer nofollow">Ethereum ETF</a> looms this week, with a decision expected as early as May 23. Adding to the excitement, top industry analysts have increased the probability of approval from 25% to 75%. This optimistic outlook has already had a notable impact on the market, with&nbsp;<a href="https://u.today/ethereum-etf-approval-is-last-dam-to-be-broken-for-entire-crypto-industry-anthony-pompliano" rel="noopener noreferrer nofollow">Ethereum's price</a> surging more than 20% in just one day.
Prominent cryptocurrency expert&nbsp;<a href="https://x.com/RaoulGMI/status/1792891019597426728" rel="noopener noreferrer nofollow">Raoul Pal</a> has weighed in on the potential of this development. He highlighted a scenario where substantial demand for the ETF, coupled with the fact that 30% of Ethereum remains staked and ongoing burning processes make supply deeply negative, could create what he describes as a "banana zone squared."
This term refers to a period of exponential growth and market imbalance driven by rapid crypto adoption and significant increases in market capitalization.
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 One more thing I've been talking about for a while... what the hell happens to the price of ETH if there is big demand for the ETF and 30% remains staked (off market) and burning makes supply deeply negative as activity rises.... that could create a banana zone squared...— Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1792887001147998592?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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According to Pal, if these conditions come to fruition,&nbsp;<a href="https://u.today/ethereum-to-100000-dogecoin-creator-issues-epic-price-call" rel="noopener noreferrer nofollow">Ethereum</a> could see unprecedented price increases. He suggests that this scenario is already unfolding and predicts that non-fungible tokens (NFTs) will experience a massive boom once&nbsp;<a href="https://u.today/ethereum-eth-contract-holdings-hit-record-14-billion" rel="noopener noreferrer nofollow">ETH</a> reaches a new all-time high.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="0e1d35c3-7b92-4bd8-b767-3a5a2da3dc88" src="https://u.today/sites/default/files/inline-images/etherprice.png">ETH to USD by <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
This prediction is particularly noteworthy given Ethereum's previous peak of $4,868, achieved on Nov. 8, 2021. With the altcoin's price currently less than 29% away from this ATH, the stage seems set for significant market activity.
Pal's forecast adds a layer of excitement to the already heated discussions surrounding Ethereum and its potential. As enthusiasts eagerly await the SEC's decision, the prospect of a new ATH and subsequent NFT explosion is fueling fear and greed within the crypto community.&nbsp;
If Pal's predictions hold true, the coming weeks could mark a historic period for Ethereum and the broader digital asset market.

Raoul Pal Delivers Epic Prediction for Ethereum All-Time High

U_Today

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