CryptoQuant CEO: Multiple positive factors may boost ETH price
CryptoQuant founder and CEO Ki Young Ju shared some bullish views on ETH on the X platform:
1. There was no significant selling pressure after the hacking incident. On-chain data and market data remain neutral. It takes time for exchanges to sell, and off-exchange sales have little impact on prices.
2. Ethereum occupies 56% of the stablecoin market share. With Trump's relaxation of cryptocurrency regulation, more companies may use Ethereum-based stablecoins and smart contracts by 2025.
3. The ETH spot ETF has been approved. Regulatory benefits could trigger a "large-scale ETF copycat season", driving up ETH this year.
4. Whales are accumulating: Wallet balances of 10K-100K ETH have grown by 24% over the past year, mainly from wallets with less than 1K ETH. Current prices are close to the cost basis of these accumulation addresses.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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