Ethereum (ETH) Continues Upward Trend: Expert Says “No Fundamental Reason” for Downturn

IconCryptoNewsTerminal Staff04 Jul, 2024

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Ethereum (ETH) Continues Upward Trend: Expert Says “No Fundamental Reason” for Downturn

Ethereum (ETH) Shows Signs of Recovery Ethereum (ETH) is showing signs of recovery after a recent decline. According to sassal, the founder of Ethereum transaction fee tracker platform The Daily Gwei, there is "currently no fundamental reason" for ETH to continue its downtrend. Positive Factors Supporting ETH sassal cites several positive factors that are supporting ETH's recovery, including: Rising traditional markets Decreasing interest rates * A potential government shift towards crypto-friendliness In addition, sassal notes that the main risk to ETH is a potential outflow from Grayscale's ETHE, an investment trust that holds ETH. However, he believes that the discount on ETHE is not large enough to drive significant selling. Expert Outlook Overall, sassal is optimistic about the future of ETH. He believes that the current downtrend is likely temporary and that ETH is well-positioned for long-term growth.

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