Ethereum (ETH) $2,465.79Reached $ 2,519 on June 30th. The article was prepared again ranks again below $ 2,500. In the BU this rise, the integrations of corporate demand, network updates and important platforms with Ethereum were effective. Market data indicate that ETH’s supply on stock exchanges narrowed, showing that TVL has increased.
Ethereum Corporate demand
According to Coinshares’ weekly report, the net $ 429 million entry into Ethereum investment products in the last week. The total entrance from the beginning of the year has reached approximately 2.9 billion dollars. While the amount of ETH in the market decreased, the 35 million supply corresponding to 28 percent of the current ETH was locked for stakes. This tendency is considered to strengthen the perception of investor for the value of Ethereum.
Coinshares officials: “The interest of corporate investors to Ethereum products continues, and this demand combines with the decrease in circulating ETH supply and has a positive impact on the market.”
Experts show the continuation of institutional demand and the increase in accumulation indicators, and that Ethereum’s position in the market is strengthened. Investors say that the supply of ETH supply in the stock exchanges can be a protective element against volatility. Less supply and larger rise potential.
Ethereum and Technical Developments
Robinhood announced that it has developed its own Layer-2 network with Ethereum. Although this new blockchain has not been commissioned yet, it is aimed to allow the stake on Ethereum to be trading in the tokent and the crypto derivatives. Robinhood’s choice is an indication of confidence in Ethereum’s scaling strategy.
Ethereum’s founding partner, Vitalik Botter, introduced a new digital identity system that uses zero-knowledge proofs. With this system, users will be able to confirm their identity or certain qualities without disturbing their privacy. Experts believe that this technology can accelerate the adoption of on-ach authentication, especially in practices that require privacy.
ETH estimates
The Ethereum Community Conference (ETHCC) held in Cannes, France, started with more than 6,400 participants and 500 speakers. In the event, presentations about new tools, scaling strategies and protocol improvements stand out. Participants draw attention to the activity of the Ethereum developer community.
Technically, ETH fluctuated between 29-30 June between 2,438 and $ 2,523. The biggest price movement took place on June 29, and ETH exceeded $ 2,500 with a 2.9 leap. It is reported that a strong support occurred at $ 2,438 on June 30, and the highest level of day was recorded as $ 2,523.
Although some analysts evaluate ETH’s watching under the 200 -day moving average as a technical obstacle, positive views on the market due to strong institutional inputs and developing ecosystem. ETH can make new trials while progressing to the daily and monthly closing which will take place within 2 hours. However, the target for July is that $ 2,750 will be recovered with closing over $ 2,500 and targeted as in June of $ 3,000.
In Ethereum, the increasing corporate investment in the last week, the technological innovations developed and the activity of the community stands out. The increase in the amount of ETH that is stacked on the network is considered as a positive indicator for the price by reducing supply in the market. Robinhood’s new projects and Vitalik Butterin’s privacy -oriented identity initiative are among the developments that strengthen the confidence in the future of Ethereum technology. Although the price of ETH has technically some difficulties, the market can maintain its resistance with structural and technological support in the long run.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
