"Ethereum Is Undervalued... Outlook Remains Positive"

A positive analysis has been released regarding Ethereum (ETH), the leading altcoin.

According to BlockBeats on the 7th (Korean time), renowned trader Eugene stated on his channel, "A breakout is expected this week," and announced that "(I have) chosen Ethereum as my underlying asset."

Eugene cited market undervaluation, institutional investment, and the correlation with Bitcoin (BTC) as factors driving Ethereum's growth.

He argued, "After Ethereum fell from $4,000 to $1,400 this year, no one except developers considered it a core investment target," adding, "This means that from a long-term perspective, Ethereum is the most undervalued it has been in the past three years."

He also predicted that traditional finance's interest will shift toward Ethereum. Eugene commented, "Ethereum will become an investment target for mainstream institutions and traditional financial institutions in infrastructure and stablecoin (virtual assets pegged to fiat currency) sectors." He further explained, "Ethereum is the network responsible for more than 90% of stablecoin issuance" and "is highly likely to establish itself as a major chain supporting the total value locked (TVL)."

He also identified the correlation between Bitcoin and Ethereum as a strength for Ethereum. He said, "If Bitcoin breaks through $110,000, Ethereum is highly likely to enter a bull market," and forecasted that "Ethereum rarely underperforms when Bitcoin is in an uptrend."