Analysts name events that will affect the significant growth of Ethereum

Experts of the largest American cryptocurrency exchange Coinbase have revealed the prospects of the cryptocurrency market. According to experts, ethereum will remain in the leading positions among DeFi projects in the next few months, and the approval of spot exchange-traded funds on ETH will lead to a significant growth of the asset.

According to Coinbase analysts, there are no pressure factors on the price of ethereum, such as the unlocking of coins or the sale of cryptocurrency by mining companies. «ETH could surprise with unexpected growth in the coming months.» on May 23, the decision of the U.S. Securities and Exchange Commission (SEC) on the application from asset manager VanEck will be one of the main factors of pressure on the ethereum rate.

There is a high probability that the first application will be rejected, according to Coinbase experts. However, further litigation may overturn the ban, paving the way for the launch of ETH exchange-traded funds.

Even without the approval of the launch of exchange-traded funds, the need for ETH in decentralized services and applications will still contribute to the growth of the cryptocurrency in the medium term, according to crypto exchange experts.

Earlier, CryptoQuant analysts said that the update of the Dencun Ethereum blockchain led to the fact that transaction fees on the network decreased by about four times, and this returned ETH to the status of an inflationary asset.