Ether is currently making a better comeback than bitcoin. According to analysts, all indicators are green for Ethereum crypto to outperform its rival in 2024.
Some cryptocurrencies have been in great shape for a week, such as cardano which gained 12% over the period, bitcoin 4% and ether almost 10%. Solana and xrp, on the other hand, are a little behind. In the war that bitcoin and ether have always been waging, ether seems to be taking over from bitcoin in the rally of cryptocurrencies. The second most capitalized cryptocurrency on the market could score points in the coming months.
Ether should experience, a few months apart, the same fundamental trajectory as bitcoin, particularly if the American stock market watchdog (the SEC) validates ether spot ETFs. Around ten requests were sent to the American authority, notably from Fidelity, Blackrock and more recently from Franklin Templeton.
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As we have seen, the extraordinary bitcoin rally has had an impact on the entire market and ether has every chance of benefiting from it too, especially since according to the American broker Bernstein, Ethereum’s cryptocurrency, can become the new darling or “darling” of institutional management.
Ether has several advantages: moderate transaction fees on spot prices, which will fall further as well as a new update called Dencun planned for March, i.e. before the halving of bitcoin, near seen for April 19.
Faced with a frenzy, arbitrages and perhaps a form of capping of inflows on spot bitcoin ETFs, ether will certainly benefit. Bernstein estimates the probability of a regulatory green light for ether ETFs at 50% for the month of May and 100% before the end of the year.
Enough to fuel the race that ether is currently waging against bitcoin, with dynamics to the advantage of ether for several days.
Source: https://www.bfmtv.com/crypto/ethereum/pourquoi-l-ether-peut-surperformer-le-bitcoin-en-2024_AV-202402200320.html
