{"id":565371,"date":"2023-12-14T08:25:21","date_gmt":"2023-12-14T08:25:21","guid":{"rendered":"https:\/\/ktsl888.com\/?p=565371"},"modified":"2023-12-14T08:38:37","modified_gmt":"2023-12-14T08:38:37","slug":"banking-on-ethereum-jpmorgan-says-ether-will-rise-above-bitcoin-in-2024","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/banking-on-ethereum-jpmorgan-says-ether-will-rise-above-bitcoin-in-2024\/","title":{"rendered":"Banking On Ethereum: JPMorgan Says Ether Will Rise Above Bitcoin In 2024"},"content":{"rendered":"<p>JPMorgan analysts, while maintaining an overall cautious stance on the cryptocurrency market, foresee <a href=\"https:\/\/finance.yahoo.com\/news\/jpmorgan-ethereum-recapture-market-share-054744420.html\" target=\"_blank\" rel=\"noopener nofollow\">Ethereum (ETH) surpassing Bitcoin (BTC)<\/a> and other digital currencies in market price performance by 2024.<\/p>\n<p>This bullish outlook for Ethereum reflects a distinctive perspective within the institution, suggesting that the analysts see unique potential and favorable prospects for Ethereum relative to other digital assets, even amid an overall cautious sentiment towards the broader crypto landscape.<\/p>\n<p>In a published note on Wednesday, a team of analysts headed by Nikolaos Panigirtzoglou conveyed their expectation that <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Ethereum (ETH)<\/a> will reclaim its prominence and regain market share within the cryptocurrency ecosystem in the upcoming year.<\/p>\n<h2><strong>Ethereum Will Overtake Bitcoin &#8211; JPMorgan<\/strong><\/h2>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-565376\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?resize=933%2C129\" alt=\"\" width=\"933\" height=\"129\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?w=933 933w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-88.png?w=750 750w\" sizes=\"auto, (max-width: 933px) 100vw, 933px\">Source: <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Coingecko<\/a><\/pre>\n<blockquote>\n<h4>&#8220;We believe that next year Ethereum will re-assert itself and recapture market share within the crypto ecosystem,&#8221; Panigirtzoglou wrote in a note.<\/h4>\n<\/blockquote>\n<p>The analysts underscored the pivotal role of the EIP-4844 upgrade, popularly known as Protodanksharding, as the primary catalyst for Ethereum&#8217;s anticipated resurgence.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/immutable-momentum-imx-rockets-to-2-21-scaling-heights-unseen-since-2022\/\" target=\"_blank\" rel=\"noopener \">Immutable Momentum: IMX Rockets To $2.21, Scaling Heights Unseen Since 2022<\/a><\/div>\n<p>This crucial upgrade, scheduled for implementation in the first half of 2024, is poised to bring about substantial improvements in Ethereum&#8217;s network activity.<\/p>\n<p>Danksharding is a more efficient sharding method for Ethereum, and protodanksharding is the first step toward its complete implementation. Danksharding sidesteps the tedious procedure of dividing Ethereum into several shard chains, as contrast to the initially intended sharding method.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/tRPlFy8K\/\" width=\"2475\" height=\"1163\"><\/p>\n<pre style=\"text-align: center\">ETH market cap currently at $273 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>Data blobs, which are connected to blocks and can hold more data than blocks but are not permanently stored or accessible by the Ethereum virtual engine, are instead introduced.<\/p>\n<p>Meanwhile, JPMorgan&#8217;s <a href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/ether-price-prediction-8000-bitcoin-crypto-nft-ethereum-standard-chartered-2023-10\" target=\"_blank\" rel=\"noopener nofollow\">optimistic forecast<\/a> aligns with Standard Chartered&#8217;s, as they previously stated in a communication that Ether might experience a 400% surge within a few years, followed by a more sustained upward movement towards $35,000.<\/p>\n<p>Geoff Kendrick, the Head of FX Research, West, and Digital Assets Research, expressed the viewpoint that the upward trajectory for Ether might unfold at a more gradual pace compared to Bitcoin.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/okx-dex-loses-over-400000-to-hackers-what-happens-to-customer-funds\/\" target=\"_blank\" rel=\"noopener \">OKX DEX Loses Over $400,000 To Hackers \u2013 What Happens To Customer Funds?<\/a><\/div>\n<h2><strong>Ethereum Price Prediction: 5x Increase<\/strong><\/h2>\n<p>Despite this potentially more extended timeframe, Kendrick envisions Ethereum eventually attaining a higher price multiple than Bitcoin relative to their current levels. Specifically, he anticipates Ethereum reaching a price multiple of 5.0x, surpassing Bitcoin&#8217;s expected 3.5x multiple.<\/p>\n<p>Layer 2 networks, such as Optimism (OP) and Arbitrum (ARB), would gain the most from the upgrade, according to the JPMorgan analysts.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-565385\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-90.png?resize=828%2C326\" alt=\"\" width=\"828\" height=\"326\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-90.png?w=828 828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-90.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-90.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/a-90.png?w=750 750w\" sizes=\"auto, (max-width: 828px) 100vw, 828px\"><\/p>\n<pre style=\"text-align: center\">Ether seen rising to $2,426 this month. Source: <a href=\"https:\/\/coincodex.com\/crypto\/ethereum\/price-prediction\/\" target=\"_blank\" rel=\"noopener nofollow\">Coincodex<\/a><\/pre>\n<p>Layer 2 networks on <a href=\"https:\/\/coincodex.com\/crypto\/ethereum\/price-prediction\/\" target=\"_blank\" rel=\"noopener nofollow\">Ethereum<\/a> would benefit from the increased temporary data space, which would increase network throughput and decrease transaction fees. Data blobs improve Layer 2 network efficiency without changing the size of an Ethereum block.<\/p>\n<p>In the meantime, as ether discovers new applications, demand for it will rise, and cryptocurrency-related trends will only grow. For example, the most common Ethereum use case is NFT transactions, which Kendrick believes will grow.<\/p>\n<p>At the time of writing, Ether was trading at $2,281, up 5.0% in the last 24 hours, while Bitcoin was exhanging hands at $42,910, with a 2.3% increase in the same timeframe.<\/p>\n<p><em>Featured image from Pixabay<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan analysts, while maintaining an overall cautious stance on the cryptocurrency market, foresee Ethereum (ETH) surpassing Bitcoin (BTC) and other digital currencies in market price performance by 2024. This bullish outlook for Ethereum reflects a distinctive perspective within the institution, suggesting that the analysts see unique potential and favorable prospects for Ethereum relative to other digital assets, even amid an overall cautious sentiment towards the broader crypto landscape. In a published note on Wednesday, a team of analysts headed by Nikolaos Panigirtzoglou conveyed their expectation that Ethereum (ETH) will reclaim its prominence and regain market share within the cryptocurrency ecosystem in the upcoming year. Ethereum Will Overtake Bitcoin &#8211; JPMorgan Source: Coingecko &#8220;We believe that next year Ethereum will re-assert itself and recapture market share within the crypto ecosystem,&#8221; Panigirtzoglou wrote in a note. The analysts underscored the pivotal role of the EIP-4844 upgrade, popularly known as Protodanksharding, as the primary catalyst for Ethereum&#8217;s anticipated resurgence. Related Reading: Immutable Momentum: IMX Rockets To $2.21, Scaling Heights Unseen Since 2022 This crucial upgrade, scheduled for implementation in the first half of 2024, is poised to bring about substantial improvements in Ethereum&#8217;s network activity. Danksharding is a more efficient sharding method for Ethereum, and protodanksharding is the first step toward its complete implementation. Danksharding sidesteps the tedious procedure of dividing Ethereum into several shard chains, as contrast to the initially intended sharding method. ETH market cap currently at $273 billion. Chart: TradingView.com Data blobs, which are connected to blocks and can hold more data than blocks but are not permanently stored or accessible by the Ethereum virtual engine, are instead introduced. Meanwhile, JPMorgan&#8217;s optimistic forecast aligns with Standard Chartered&#8217;s, as they previously stated in a communication that Ether might experience a 400% surge within a few years, followed by a more sustained upward movement towards $35,000. Geoff Kendrick, the Head of FX Research, West, and Digital Assets Research, expressed the viewpoint that the upward trajectory for Ether might unfold at a more gradual pace compared to Bitcoin. Related Reading: OKX DEX Loses Over $400,000 To Hackers \u2013 What Happens To Customer Funds? Ethereum Price Prediction: 5x Increase Despite this potentially more extended timeframe, Kendrick envisions Ethereum eventually attaining a higher price multiple than Bitcoin relative to their current levels. Specifically, he anticipates Ethereum reaching a price multiple of 5.0x, surpassing Bitcoin&#8217;s expected 3.5x multiple. Layer 2 networks, such as Optimism (OP) and Arbitrum (ARB), would gain the most from the upgrade, according to the JPMorgan analysts. Ether seen rising to $2,426 this month. Source: Coincodex Layer 2 networks on Ethereum would benefit from the increased temporary data space, which would increase network throughput and decrease transaction fees. Data blobs improve Layer 2 network efficiency without changing the size of an Ethereum block. In the meantime, as ether discovers new applications, demand for it will rise, and cryptocurrency-related trends will only grow. For example, the most common Ethereum use case is NFT transactions, which Kendrick believes will grow. At the time of writing, Ether was trading at $2,281, up 5.0% in the last 24 hours, while Bitcoin was exhanging hands at $42,910, with a 2.3% increase in the same timeframe. Featured image from Pixabay<\/p>\n","protected":false},"author":557,"featured_media":565383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,90861,8323,1946,8686,2628],"class_list":["post-565371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-crypo","tag-eth","tag-ethereum","tag-ethusd","tag-jpmorgan"],"acf":[],"yoast_head":"\n<title>JPMorgan Says Ethereum Will Rise Above Bitcoin In 2024<\/title>\n<meta name=\"description\" content=\"JPMorgan analysts, while maintaining an overall cautious stance on the cryptocurrency market, foresee Ethereum (ETH) surpassing Bitcoin (BTC) and other\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.\",\"sameAs\":[\"jomarjet01\"],\"url\":\"https:\/\/ktsl888.com\/author\/jomarjet01\/\"}]}<\/script>\n","yoast_head_json":{"title":"JPMorgan Says Ethereum Will Rise Above Bitcoin In 2024","description":"JPMorgan analysts, while maintaining an overall cautious stance on the cryptocurrency market, foresee Ethereum (ETH) surpassing Bitcoin (BTC) and other","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/banking-on-ethereum-jpmorgan-says-ether-will-rise-above-bitcoin-in-2024\/","og_locale":"en_US","og_type":"article","og_title":"JPMorgan Says Ethereum Will Rise Above Bitcoin In 2024","og_description":"JPMorgan analysts, while maintaining an 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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