Despite Ethereum's price drop in June, experts express optimism about its future. In particular, Eric Conner predicts a possible strong rally for Ethereum in July.
Eric Conner's Predictions for Ethereum
Expert Eric Conner predicts that Ethereum is poised for an explosive rally. He points to increased on-chain strength and reduced exchange supply. "ETH is primed for an explosive rally, fueled by on-chain strength and shrinking exchange supply," notes Conner.
Market Dynamics and Influencing Factors
Ethereum's price decline in June by 2% to below $2,800 is attributed to global economic concerns such as tariff tensions and uncertainties in Federal Reserve policies. Analysts highlight a potential recovery for ETH, emphasizing diminishing exchange supply and whale accumulation.
Increased Activity in Layer-2 Solutions
Following the Dencun update, a strategic shift is observed as capital has been redirected towards Layer-2 tokens like Optimism and Arbitrum. Such trends demonstrate a notable increase in activity in Layer-2 solutions, indicating a shift in Ethereum's economic strategy post-update.
Thus, despite market fluctuations, the experimental nature of Layer-2 solutions and whale activity could positively influence Ethereum's prospects in the second half of the year.
