Crypto News – With the recent peak of Bitcoin, the total value of the cryptocurrency industry has surpassed $2.6 trillion. Ethereum, on the other hand, has gained more than 65% since the year’s commencement and has not faltered in the bullish surge. However, Ether is still 21% below its all-time high of $4,800 as of late Wednesday afternoon.
The Ethereum-Bitcoin Race Continues at Full Speed: Could ETH Hit $10K?
The CEO of cryptocurrency onboarding platform Ramp, Szymon Sypniewicz, stated that it might only take more time for the market to comprehend Ethereum’s intricacy, particularly in contrast to the far more straightforward notion of Bitcoin as digital gold. Supporters of Ethereum have long said that the foundation of an entirely new financial system will make it the second-most valuable blockchain network.
Advocates of smart contracts see tokenized versions of well-known funds, quicker settlement times, and more transparent markets in the future. Some claim that larger Ether holdings by institutional investors are just a matter of time. Furthermore, the introduction of Bitcoin ETFs might pique their interest.
ETH hasn’t hit its institutionalised hype cycle yet, as Bitcoin has. Thus, the vast majority of new inflows from the BTC ETF will naturally lead toward greater buy pressure, along with the upcoming BTC halving,
Robby Greenfield, co-founder and CEO of payments protocol Umoja Labs
High Hopes for Approval of Ethereum ETFs
According to Greenfield, Ethereum will eventually catch up to Bitcoin in terms of gains. Bitcoin, he said, should clear $10,000 this year. According to Greenfield, adopting an Ethereum ETF would definitely contribute to its value increase. Along with a plethora of other industry participants, he is banking on the US Securities and Exchange Commission to approve Ether in addition to its January approval of Bitcoin ETFs.
An ETH ETF should naturally be approved. It’ll be good for investors to have access to ETH — one of the world’s premier risk assets — in a way that’s easy and familiar.
Eugene Cheung, Bybit
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