Widely-followed cryptocurrency analyst Michaël van de Poppe presented a bullish outlook for Ethereum ETH/USD, describing the asset as having a "tremendously low valuation."
What Happened: In a video shared on his official YouTube channel, Van de Poppe pointed out the big gap between the ecosystem’s fundamental growth and the sentiment surrounding its price levels.
The analyst highlighted that BlackRock USD Institutional Digital Liquidity Fund, built atop Ethereum, crossed $500 million in market value recently, indicating robust institutional interest in the project. But despite this, sentiment among retail investors continues to be bearish.
"The difference between retail end users on social media and fundamental institutions building on top of Ethereum is gigantic," Van de Poppe argued. "It shows that retail end users have no clue about what's going to come or what's happening."
The researcher projected that Ethereum will reach a new all-time high faster than the rest of the market, and described the upcoming launch of spot ETFs as a major catalyst.
“Ethereum is such a big ecosystem with a tremendously low valuation that I expect this ecosystem to be accelerating toward a new all-time high faster than the rest.”
Why It Matters: These views come amid a notable rally in the market, pushing Ethereum to a 10-day high. The market received an upward thrust after former President Donald Trump, seen as a pro-cryptocurrency leader, survived an assassination attempt.
Meanwhile, Nate Geraci, president of The ETF Institute, appeared confident about the launch of spot Ether ETFs this week, seeing no "good reason" for any further delay.
Price Action: At the time of writing, Ether was exchanging hands at $3,338.88, rising 4.45% in the last 24 hours, according to data from Benzinga Pro.
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