"Ethereum (ETH) to Reach All-Time High Due to Narrative Shift"

As market sentiment surrounding Ethereum (ETH) changes, the potential for an all-time high is emerging.

According to crypto-specialized media DailyHodl on the 9th (local time), renowned crypto analyst Pentoshi, who has about 870,000 followers on X (formerly Twitter), stated, "The narrative around ETH is changing," and added, "Although most investors remain skeptical about ETH for now, within less than a month, institutions will likely make large-scale purchases sufficient to offset all ETH issued after the Merge."

He also noted, "Currently, ETH's market capitalization is about one-ninth that of Bitcoin (BTC)," predicting, "because major price swings can occur with less capital, once inflows begin in earnest, ETH could experience a sharp price surge."

In this context, Tom Lee, co-founder of the U.S. market research firm Fundstrat, also said, "If the adoption of stablecoins increases, ETH could rebound," stressing, "Stablecoins are an area the U.S. government is working on, and especially USD Coin (USDC) operates on the ETH base, which could form a key source of demand for ETH."

Meanwhile, as of 05:32 on the 10th, ETH was trading at $2,738.74, up 4.95% from the previous day based on the Binance Tether (USDT) market.