Will Ethereum ETFs help ETH Reach a New ATH in 2024?
Will Kay, head of indexes at Kaiko, pointed out in a report Monday that "ETH prices may be particularly sensitive to early inflows into newly launched ETFs.
He cautioned that an overall understanding of demand may not become apparent for several months and it is unclear how initial product receipts may impact the asset.
Despite expectations of significant inflows into spot ETFs this year, traders on the Polymarket prediction market are less optimistic about the likelihood of ETH reaching a new all-time high thanks to these ETFs.
Prediction markets, which use geographically diverse consumer forecasts of future events, are theoretically less biased as participants consider “risk-on versus forecast.”
READ MORE:
Bakkt може да улови значителен дял от обема на търговията с BTCIn Polymarket’s largest pool of predictions versus price movements for Etheriem, 55% of participants predict ETH could reach a new all-time high in 2024.
Approximately 30% believe ETH could exceed $4,600 by the fourth quarter.
In a separate pool, forecasters are betting on a less than 43% chance ETH will exceed $3,500 by July 26.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Aiming at Venezuela's 90 million barrel oil field reserves! The United States is reportedly close to reaching a "large-scale" agreement
According to reports, the US-Venezuela negotiations are focusing on more than a dozen already operating oil fields. The core idea of the agreement is for the United States to obtain partial ownership of these oil fields and for American energy companies to participate in subsequent development to further restore production. Last week, the US Deputy Secretary of Energy stated that about half of Venezuela's current oil production goes to US refineries.
US-Canada Tariff Standoff Continues: Canada Adjusts Countermeasure List, Imposes 50% Tariff on Copper Wire, Charcoal, and Other Goods
Canada has added U.S.-made copper wire and charcoal to its list of products subject to a 50% retaliatory tariff. Certain American goods such as glass containers, printed images, and gypsum bricks have also been included, while fish and seafood products have been removed from the list.
PENGU Breakout Holds Key Levels After Rally
Gold edges higher as falling yields offset Fed hawkish talk
Crypto prices
More
