Ethereum (Eth-USD) The prices have reached record levels, while Wall Street becomes more and more optimistic about the game of cryptography.
The second global cryptocurrency in market capitalization jumped 2% Thursday to hover over $ 4,700 per token, a little less from its record level of 2021.
“We have said on several occasions that we think that Ethereum is the greatest exchange of macro in the next 10 to 15 years,” wrote Fustratt research manager on Wednesday.
Lee noted that the majority of Wall Street crypto projects and stablecoins, or digital tokens supported by assets like the US dollar, are under construction on Ethereum infrastructure.
Ether, the native token of Ethereum, has increased by more than 50% since the law on the Act on Engineering, which creates railing for the Stablescoin industry, was adopted last month.
In addition, the Securities and Exchange Commission Recent announcement “Project Crypto”An initiative aimed at modernizing the agency and establishing clear regulations around the digital asset industry, also fueled the rally in Ethereum.
Fundstrat sees prices and prices up to $ 15,000 by the end of the year.
The token is up 16% in the last five sessions against an increase of 4% Bitcoin (BTC-USD).
Some companies have increasingly increased in capital to add Ethereum to their balance sheets in the same way as the Strategy Business Treasury Game (MSTR).
Find out more: Can you buy crypto with a credit card? See the advantages and disadvantages.
Ethereum’s entries by such digital cash companies have supported higher prices, Yahoo Finance Spencer Hallarn, global free trade manager, told Yahoo Finance.
“This positive price dynamic has strengthened the enthusiasm of investors and flows into space,” he added.
For example, Bitmin Immersion Technologies (BMNR), chaired by Tom Lee de Fundstrat, Announced plans Tuesday to sell up to $ 20 billion in stocks to increase its Ethereum assets.
The objective of the company is to end up acquiring 5% of ETH tokens pending the world. Bitmine shares have increased by around 80% in the last five days.
Meanwhile, the Sharplink Gaming (SBET) sports games company (SBET) and the BTCCCHAIN BOTCCHAIN technology company (BTCS), both of which are looking for similar strategies, have also increased by 8% in the last five sessions.
Ines Ferre is a senior journalist from Yahoo Finance. Follow it on x to @ines_ferre.
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