{"id":564657,"date":"2023-12-08T22:00:15","date_gmt":"2023-12-08T22:00:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=564657"},"modified":"2023-12-08T18:15:05","modified_gmt":"2023-12-08T18:15:05","slug":"ethereum-mega-bull-run-is-inevitable","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-mega-bull-run-is-inevitable\/","title":{"rendered":"2 Reasons Why An Ethereum Mega Bull Run Is Inevitable"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">While the recent Bitcoin and crypto momentum is cooling off, Ethereum (ETH) rejects lower lows, especially against Bitcoin (BTC). Taking to X on December 8, decentralized finance (DeFi) researcher DefiIgnas <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/DefiIgnas\/status\/94688226\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shared<\/span><\/a><span data-preserver-spaces=\"true\"> insights that suggest ETH could be on the verge of a rally that would potentially see the second most valuable coin usurp BTC&#8217;s current position as the best-performing asset.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Reasons That Might Drive Ethereum Bulls<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The researcher observed that ETH is down 24% versus BTC in 2023. However, multiple fundamental indicators show that this is about to change. First, DefiIgnas noted that crypto investors are increasingly drawn to discounted Grayscale Ethereum Trust (GETH), which has been rallying over the past few months, outperforming Ethereum spot prices.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-strong-44k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">GETH surged by 298% in the past few months, while ETH only rose by around 100% in the same period. As GETH share prices increased, its discount with spot ETH decreased. This means more capital indirectly flowed into ETH, leading to higher demand.<\/span><\/p>\n<figure id=\"attachment_564658\" aria-describedby=\"caption-attachment-564658\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-564658\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?resize=1024%2C497\" alt=\"Money flowing into GETH | Source: @DefiIgnas on X\" width=\"1024\" height=\"497\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=2172 2172w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/GA0l9R8bYAAOe7F.jpeg?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-564658\" class=\"wp-caption-text\">Money flowing into GETH | Source: @DefiIgnas on X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Besides GETH rising, the researcher remains bullish on Ethereum because of the recent developments surrounding the approval of the first spot Bitcoin ETF. The crypto community expects the Securities and Exchange Commission (SEC) to authorize multiple products, including those proposed by Fidelity and BlackRock. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In DefiIgnas&#8217; assessment, once the spot Bitcoin ETF goes live, likely in early 2024, all &#8220;attention, narrative, and speculation&#8221; will shift toward the agency approving the first spot Ethereum ETF. BlackRock, the world&#8217;s largest asset manager, has already applied with the SEC to issue the first spot Ethereum ETF.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The expected activation of the <a href=\"https:\/\/ktsl888.com\/news\/ethereum-cancun-upgrade-arbitrum-optimism-will-profit\/\" target=\"_blank\" rel=\"noopener \">Cancun upgrade<\/a> in H1 2024 will also likely support Ethereum prices. Over the years, Ethereum has integrated multiple upgrades. This includes shifting to proof-of-stake (PoS) from proof-of-work (PoW) and overhauling their fee auction mechanism, introducing ETH burning. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/liquidation-quandary-litecoin-wallets-draining-fast-whats-next-for-ltc-prices\/\" target=\"_blank\" rel=\"noopener \">Liquidation Quandary: Litecoin Wallets Draining Fast \u2013 What\u2019s Next For LTC Prices?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">However, with Cancun, the goal is to directly enhance the main net&#8217;s capabilities by activating several proposals, including EIP-4844 proto-dank sharding, which aims to reduce gas fees associated with rollups. This update will further cement Ethereum&#8217;s quest to significantly increase on-chain scalability and reduce gas fees over the years.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">ETH Looks Firm, Resistance At November Highs<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At spot rates, ETH is firm versus BTC, looking at the candlestick arrangement in the daily chart. How prices react in the days ahead remains to be seen. <\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/3YNcdw8G\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/3YNcdw8G\/\" alt=\"ETHBTC price trending upward on the daily chart | Source: ETHBTC on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">ETHBTC price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/3YNcdw8G\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHBTC on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Even so, if there is confirmation of the December 7 gains, ETH might extend gains. In that case, it can break above the current consolidation as bulls aim to break above November 2023 highs of around 0.058 BTC.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While the recent Bitcoin and crypto momentum is cooling off, Ethereum (ETH) rejects lower lows, especially against Bitcoin (BTC). Taking to X on December 8, decentralized finance (DeFi) researcher DefiIgnas shared insights that suggest ETH could be on the verge of a rally that would potentially see the second most valuable coin usurp BTC&#8217;s current position as the best-performing asset.\u00a0 Reasons That Might Drive Ethereum Bulls The researcher observed that ETH is down 24% versus BTC in 2023. However, multiple fundamental indicators show that this is about to change. First, DefiIgnas noted that crypto investors are increasingly drawn to discounted Grayscale Ethereum Trust (GETH), which has been rallying over the past few months, outperforming Ethereum spot prices.\u00a0 Related Reading: Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K GETH surged by 298% in the past few months, while ETH only rose by around 100% in the same period. As GETH share prices increased, its discount with spot ETH decreased. This means more capital indirectly flowed into ETH, leading to higher demand. Besides GETH rising, the researcher remains bullish on Ethereum because of the recent developments surrounding the approval of the first spot Bitcoin ETF. The crypto community expects the Securities and Exchange Commission (SEC) to authorize multiple products, including those proposed by Fidelity and BlackRock. In DefiIgnas&#8217; assessment, once the spot Bitcoin ETF goes live, likely in early 2024, all &#8220;attention, narrative, and speculation&#8221; will shift toward the agency approving the first spot Ethereum ETF. BlackRock, the world&#8217;s largest asset manager, has already applied with the SEC to issue the first spot Ethereum ETF. The expected activation of the Cancun upgrade in H1 2024 will also likely support Ethereum prices. Over the years, Ethereum has integrated multiple upgrades. This includes shifting to proof-of-stake (PoS) from proof-of-work (PoW) and overhauling their fee auction mechanism, introducing ETH burning. Related Reading: Liquidation Quandary: Litecoin Wallets Draining Fast \u2013 What\u2019s Next For LTC Prices? However, with Cancun, the goal is to directly enhance the main net&#8217;s capabilities by activating several proposals, including EIP-4844 proto-dank sharding, which aims to reduce gas fees associated with rollups. This update will further cement Ethereum&#8217;s quest to significantly increase on-chain scalability and reduce gas fees over the years. ETH Looks Firm, Resistance At November Highs At spot rates, ETH is firm versus BTC, looking at the candlestick arrangement in the daily chart. How prices react in the days ahead remains to be seen. Even so, if there is confirmation of the December 7 gains, ETH might extend gains. In that case, it can break above the current consolidation as bulls aim to break above November 2023 highs of around 0.058 BTC. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":564659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,9960,679,1119,78790,8323,65296,1946,84816,6931,78803],"class_list":["post-564657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-bitcoin-etfs","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-eth","tag-ethbtc","tag-ethereum","tag-ethereum-etfs","tag-ethereum-price","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>2 Reasons Why An Ethereum Mega Bull Run Is Inevitable<\/title>\n<meta name=\"description\" content=\"Ethereum is firm versus Bitcoin when writing. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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