🐂 Ethereum Forecast from Citigroup:
◽️Bullish scenario: $6400 by the end of the year.
◽️Base scenario: $4300 by the end of the year.
◽️Bearish scenario: $2200 by the end of the year.
Key points:
• Network activity remains the main driver of ETH valuation, but growth is mainly happening on L2, where the value for the base layer of Ethereum is questionable.
• The bank believes that only 30% of L2 activity is reflected in the price of ETH.
• Ethereum could be supported by tokenization, stablecoins, and inflows into ETFs.
• Inflows into ETFs are smaller than those into BTC but more effective per dollar. However, they are limited due to smaller capitalization and lower recognition of ETH.
$ETH - 🚀🚀🚀
◽️Bullish scenario: $6400 by the end of the year.
◽️Base scenario: $4300 by the end of the year.
◽️Bearish scenario: $2200 by the end of the year.
Key points:
• Network activity remains the main driver of ETH valuation, but growth is mainly happening on L2, where the value for the base layer of Ethereum is questionable.
• The bank believes that only 30% of L2 activity is reflected in the price of ETH.
• Ethereum could be supported by tokenization, stablecoins, and inflows into ETFs.
• Inflows into ETFs are smaller than those into BTC but more effective per dollar. However, they are limited due to smaller capitalization and lower recognition of ETH.
$ETH - 🚀🚀🚀