Ethereum could be on the verge of a major breakout and surpass $5,000 as soon as early 2025, according to one analyst.
Following a strong market recovery, Ethereum has outperformed many other cryptocurrencies, gaining 6% in the past day, according to CoinGecko.
“The gears and bolts are in place,” Iliya Kalchev, an analyst at Nexo, said in an interview. “Ethereum could skyrocket beyond $5,000 by early 2025.”
Ethereum is up 79% since Donald Trump’s election victory last month, but it still lags behind its all-time high of $4,800 set in 2021. Comparatively, Bitcoin is up 62% over the same period, while Solana and XRP have gained 59% and 430%, respectively.
Carlos Guzman, an analyst at market maker GSR, noted Ethereum’s unique position in the market. “ETH has a huge advantage in that it is the only token in the US that has an ETF, besides BTC,” he explained. “As traditional investors become more invested in crypto, they will look to ETH as a natural alternative.”
Ethereum’s prospects are further supported by institutional interest. According to Arkham Intelligence, two major financial institutions, BlackRock and Fidelity, are actively accumulating Ethereum, with both purchasing over $500 million worth of ETH since Dec. 8.
*This is not investment advice.
Read the full article here
