2024-10-01 19:20:47
Investing.com – A shock to the crypto community! Despite growing adoption by global giants such as KPMG, Robinhood (NASDAQ:) and BlackRock (NYSE:), it seems unlikely that the all-time high will be reached before 2025. While major players are putting their cryptocurrency strategies advanced, many investors still do not understand the true potential of Ethereum. But why does this happen?
Ethereum, the second largest cryptocurrency after , remains enigmatic for many investors. Despite its role as the leading platform for smart contracts and DeFi applications, there is a lack of understanding of its true potential. Benjie Thomas of KPMG points out: “Ethereum’s investment story is more difficult to understand than Bitcoin’s.”
ALSO READ: Cryptocurrency promises for 2024
A survey by the Kalshi platform reveals that only 9% of crypto enthusiasts believe that Ethereum will reach a new all-time high by 2025. Historical data supports this suspicion: the price of Ethereum remains almost 50% below its peak of almost $4,900. , which was released in November 2021.
Some experts argue that a lack of understanding of Ethereum’s use cases and long-term potential contributes to this perception. Additionally, the high correlation between Bitcoin and Ethereum makes it difficult for ETH to move significantly without Bitcoin showing a clear trend.
BlackRock’s Robert Mitchnick says institutional adoption and growth of blockchain technologies is still in its early stages. Kareem Sadek of KPMG says his firm has a strong focus on DeFi, NFTs, and the Metaverse – all sectors where Ethereum plays a dominant role.
Robinhood also shows confidence in the future of Ethereum. Recently, the company launched an initiative that allows European customers to deposit and withdraw in more than 20 digital assets, including Ethereum. This expansion, in response to growing demand from European customers, aims to provide more control over their digital assets and facilitate access to DeFi.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, said: “This is one of the most requested features from our customers.” Despite the regulatory challenges in Europe, such as the new MiCA rules, Robinhood is determined to expand its presence in the region.
While major firms like KPMG, Robinhood, and BlackRock are increasing their support for Ethereum and taking steps to expand cryptocurrency adoption, a new all-time high for Ethereum by 2025 remains uncertain. A lack of clarity about the investment story and mixed investor sentiment add to this uncertainty.
#Robinhood #bets #Ethereum #alltime #high #Investing.com