While the upgrades of Ethereum progress towards the long -term adoption of the blockchain, they do not have the immediate impact necessary to stimulate the bullish feeling on the market, note the analysts.
Ethereum (ETH) has struggled to follow Bitcoin (BTC) since the merger in 2022, not only the bullish movements that many hoped, according to the analysts.
In a recent research note, the blockchain company based in Singapore, Matrixport, stressed that most Ethereum upgrades had little effect on the price of ETH. Instead of creating instant market changes, these upgrades seem to be part of a long -term strategy for a wider adoption of blockchain. “These upgrades seem to serve as incremental steps,” notes Matrixport.
The interest of Wall Street in the funds negotiated on the stock market in Ethereum was also quite high and low, underline the analysts. They also note that Ethereum has not followed more recent trends, many people rather choosing to issue pieces even on cheaper networks.
“Ethereum is always confronted with challenges to consolidate its value proposal,” said Matrixport. However, there are still good news: the deliverance of ties on Ethereum recently exceeded this on Tron (TRX), despite the latter “being a cheaper option”, notes the analysts.
As Crypto.News mentioned it earlier, Ethereum has lagged behind Bitcoin this year, remaining in a technical bear market after dropping 22% compared to its 2024 summits. However, several factors indicate the possibility of ‘An increased break, some expecting Ethereum reaching $ 5,000 in the coming weeks.
The Ethereum Prize has traditionally succeeded in February. Since 2019, it has posted positive yields in February, with an average growth of 17% since 2017. Although past trends cannot serve as a guarantee, there is growing optimism in the cryptographic community that Ethereum could see the gains in February.
