Cryptopolitan reports a significant shift in the cryptocurrency market as institutional investors increasingly favor Ethereum and Solana over Bitcoin. This trend stems from new investment products that facilitate institutional cryptocurrency purchases.
The UAE is on the verge of revolutionary changes in the financial sector. According to CoinMarketCap, the country is set to introduce cryptocurrency into everyday life of its citizens. Dubai’s Department of Finance has partnered with Crypto.com.
In May, cryptocurrency fund assets reached a record high of $167 billion, fueled by easing trade tensions and renewed investor interest in riskier assets. According to Morningstar, 294 crypto funds attracted $7.05 billion in net inflows, the highest level since December.
Cathie Wood of ARK Invest has a positive outlook for the Ethereum. According to her calculations, the asset's price could reach $166,000 by 2032.
Cardano has long been recognized for its pace of technical progress. Yet The Motley Fool warns the project now risks falling behind competitors unless it implements strategic changes in the near term.
According to The Cryptocurrency Press, the US Congress is reviewing the new CLARITY Act, designed to eliminate legal ambiguities in cryptocurrency regulation.
According to CoinMarketCap portal, citing an analysis by Arkham, BlackRock purchased more than $500 million worth of Ethereum (ETH) over the course of ten days. This marked one of the largest rounds of crypto asset purchases by institutional investors in recent months.
The US Securities and Exchange Commission (SEC) is facing the need to regulate new cryptocurrency exchange-traded funds (ETFs) that offer investors earnings through staking, as reported by Bloomberg.
According to CoinMarketCap, the Ethereum Foundation is tightening its spending strategy and ramping up support for the decentralized financial system (DeFi). Such changes should help the EF prepare for future challenges.
Coinotag reports that Ethereum's price has risen above $2,600 following a record influx of investment in cryptocurrency-backed ETFs from BlackRock. The company purchased more than 9,000 ETH worth approximately $50 million.
A recent rebound in Ethereum's price has been largely supported by institutional investors, and especially by large asset managers such as BlackRock and Fidelity, as reported by Coinotag.
Ethereum is the world's second largest cryptocurrency after bitcoin. It allows creating and managing smart contracts and decentralized platforms. The coin is actively used in the blockchain, and is also popular in the NFT, DeFi, and other digital services.
Major factors that determine the value of ETH include:
The liquidity of Ethereum is supported by its extensive application within the financial sector and across different blockchain projects.
Moreover, an extensive ecosystem of NFTs, decentralized exchanges, and new digital solutions creates a stable interest in the cryptocurrency.
Forecasting the ETH price is a complex task, as it is formed under the influence of many factors. For successful trading and investing, it's important to take into account regulatory changes and analyze network activity.
