The Chief Investment Officer of the Crypto Asset Management Firm Bitwise says that Ethereum should continue to grow in the coming months as the demand for ETH increases.
In a new thread on the social media platform X, Bitwise Cio Matt Hougan out That it will continue to rise in the second largest digital active active act per volume due to the overwhelming demand for it.
“ETH is in a tear. After the first four months of the year, it has been steadily going down, it has returned strongly. It has risen 50%+ in the past month and more than 150% since the lows in April. The reason? Overwhelming question of ETPs (Exchange-Trade Products) and corporate workers.”
According to Hougan, the institutional demand for ETH has shot since May, causing his price to rise after the ETPs had suffered a matte launch.
“ETPs were launched in July 2024, but the first reaction was Lauwe … Something has changed in mid -May. Since May 15, spot ETPs have been tears in a tear and more than $ 5 billion. Corporations have also come into play, with companies such as Bitmine and Sharplink that Ethereum Treasury announced strategies.
According to our estimates, ETPs and business treasury chests have together to buy 2.83 million ETH since 15 May – more than $ 10 billion at today’s prices. That is 32x just new new stock in the same period. No wonder that the ETH price has risen! “
According to Hougan, the Blue chip investors must continue to increase their investments in the top altcoins, which reduces the price in the coming months.
‘The right question to ask is: will this persist? I think the answer ‘Yes …’ is
With the increasing interest in stablecoins and tokenization, we expect a long -strong ETP entry. In the meantime, all signs suggest that the trend of ‘Eth Treasury Company’ will accelerate …
Looking over, I can imagine that ETPs and Treasury companies buy $ 20 billion in ETH the following year, or 5.33 million ETH at today’s prices. In the meantime, the network is expected to produce around 0.80 million ETH in the same period. That is ~ 7x more demand than supply. “
ETH acts for $ 3,635 at the time of writing, a decrease of 3.2% in the day.
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