[Analysis] "BlackRock Ethereum ETF purchased 712 billion KRW worth of Ethereum last week… Rising expectations↑"
Summary
- It was reported that BlackRock's Ethereum spot ETF purchased Ethereum worth approximately 712 billion KRW last week, raising expectations for a rise.
- Cryptocurrency analysts stated that the occurrence of Ethereum's golden cross could increase the upward momentum.
- Analysts predict that Ethereum's bullish momentum could continue for a year, with expectations that it could surpass $5,000.
There is an analysis suggesting that the upward trend of Ethereum (ETH), which recently touched $4,000, is likely to continue.
On the 7th, cryptocurrency specialized media Cointelegraph reported, "BlackRock's Ethereum spot Exchange-Traded Fund (ETF) purchased Ethereum worth $500 million (approximately 712 billion KRW) last week," adding, "Their holdings doubled last month. The price of Ethereum is likely to rise (in the future)." The inflow of funds into the spot ETF is said to be supporting the upward trend of Ethereum.
Cryptocurrency analyst Venture Founder stated, "Ethereum has experienced a 'golden cross,' and the upward momentum could grow even stronger," adding, "Previously, Ethereum's golden cross appeared in 2021, and at that time, the price surged by 2323%."
The media added, "Analysts predict that Ethereum's bullish momentum could continue for another year until the end of next year," and "Technical analysis suggests that Ethereum could surpass $5,000."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
