The traction of the ETH network has surged, reminiscent of 2021 levels 📈. Described by Tom Lee as the "utility" of ETH, its activity has notably rebounded, piquing market interest. Daily transactions have soared over 1.2 million, nearing peaks seen in 2021 🚀. This growth aligns with recent network upgrades, hinting at positive outcomes for ETH's value 💰. Speculators and traders are buzzing with activity, showcasing increased engagement in ETH trading. Source: X 📊.
Tom Lee from Fundstrat views the network traction as beneficial for ETH's value, citing rising utility as a positive sign. He recently backed a Bitcoin mining company to bolster its ETH holdings, foreseeing stablecoins as a catalyst for ETH's growth. Despite this, the ETF request for ETH lags behind BTC, suggesting a lack of a clear narrative for ETH's market appeal 📉. Source: Ecoinmetrics / X.
Spot ETH ETF has amassed $4 billion in investments, significantly less than BTC's $30 billion, indicating a story disparity between the two cryptocurrencies. The delayed institutional demand for ETH compared to BTC reflects this narrative gap 📊.
https://altcoin.observer/will-ethereum-transactions-towards-the-summits-around-2021-will-eth-prices-follow/
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