NEWS

Ethereum ‘liquidity crisis’ could see new ETH all-time high before Bitcoin — Analyst

Ethereum‘s native token, Ether (ETH), may beat Bitcoin (BTC) to new all-time highs, fresh analysis reveals.

In a tweet on Wednesday, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted a “sell-side liquidity crisis” that could yet give ETH the edge over BTC.

Ether liquidity shortfall “intensifying”

With Bitcoin up over 50% versus its lows of $29,000, altcoins have also begun to reawaken, with Ether as no exception.

The largest altcoin has recaptured $3,000, a level that, this week, is now in the process of being retested as support.

Despite attention focusing on Bitcoin reclaiming $50,000, optimism over Ether remains high after its successful London hard fork deployment earlier this month.

Thanks in part to the supply changes pushed through via the hard fork, a liquidity shortfall could ultimately serve to push ETH/USD to new historic peaks before BTC/USD manages to do the same.

“$ETH might reach its all-time high earlier than $BTC in the long term,” Ki summarized.

“Current $ETH price is closer to ATH compared to $BTC. Higher demand, lower supply. $ETH

Read More  BMW, Daimler sued for refusing to tighten carbon emissions targets - Handelsblatt

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button