[Analysis] "Ethereum (ETH) Likely to Rebound Next Year... Institutional Accumulation Expected to Continue"
Summary
- According to Matrixport, Ethereum is likely to rebound next year.
- Traditional finance may aggressively purchase Ethereum through Exchange-Traded Funds (ETFs).
- Although Ethereum's dominance has sharply decreased, there is potential for momentum recovery next year.
Recently, Ethereum (ETH), which has shown relative weakness compared to the rise of Bitcoin (BTC), is expected to have a high possibility of rebounding next year.
On the 16th, the virtual asset (cryptocurrency) service provider Matrixport stated in its 'Chart of the Day' report that "Traditional Finance (TradFi) may aggressively purchase Ethereum through Exchange-Traded Funds (ETFs)," adding, "Although Ethereum is currently showing weakness, it could gain momentum and recover noticeably next year."
There is also an analysis that Ethereum is showing relative weakness compared to the strength of altcoins like Solana (SOL). The report added, "While Bitcoin dominance (the proportion of Bitcoin in the total market capitalization of virtual assets) surged during this year's bull market, Ethereum's dominance sharply decreased from 18% to 12%," suggesting that "the market's interest seems to have shifted from Ethereum to other blockchains like Solana."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
