Analysts from Fundstrat, led by Tom Lee, predict Ethereum might increase 54 times based on the Wyckoff principle. Meanwhile, Etherealize has raised $40 million to promote Ethereum among institutional investors.
Long ETH Consolidation and Growth Forecast
A recent study by Fundstrat led by Tom Lee suggests that the current price consolidation of Ethereum could lead to significant growth. The Fundstrat team noted that "the bigger the base, the bigger the breakout". The analysis shows that prolonged consolidation may serve as a foundation for a powerful increase once resistance is broken. If history repeats, Ethereum may reach significant levels around $75,000 in the next cycle.
Etherealize Funding to Promote Ethereum
The company Etherealize, focusing on promoting Ethereum, secured $40 million in a new funding round led by venture firms Electric Capital and Paradigm. These funds will be directed towards educating institutional investors about Ethereum's potential. Etherealize was founded in January 2023, supported by the Ethereum Foundation and co-founder Vitalik Buterin.
New Whale Emerges and ETH Accumulation
According to on-chain data, a new whale emerged after purchasing $100 million worth of ETH. This enhances the overall trend of accumulation among large Ethereum holders. Specifically, whales holding between 1,000 and 100,000 ETH increased their holdings by 14% over the past five months. Meanwhile, Ethereum outperformed Bitcoin, with a 132% increase compared to Bitcoin's 34% rise.
The current state of Ethereum raises optimism among analysts and investors. The predictions of a potential 54X ETH growth and new investment support from Etherealize confirm the growing interest in this cryptocurrency.
