Analysts predicted Ethereum’s growth to $ 25,000 this year

Well-known cryptocurrency analysts have published a new forecast of the main altcoin’s price. Experts expect the price of Ethereum (ETH) to gain a positive momentum this year.

Amid various speculative price fluctuations ETH $3,335.71 Bridged Ether (StarkGate) -1.39% Market capitalization $0.3 billion VOL. 24 hours $1.42 billion , the potential approval of a spot exchange-traded fund for Ethereum is on the horizon by the middle of this year, analysts said. In a recent post on X, Vance Spencer, co-founder of cryptocurrency venture capital firm Framework Ventures, argued that second-tier solutions integrated into the Ethereum platform will make it difficult for other blockchains to compete this year. Spencer predicts that they will all use ETH as «their base currency.»

Famous crypto analyst DeFi Dad emphasized that the popularity of ETH will be one of the many reasons why he is bullish in his price forecast for the upcoming cycle. «One of the many reasons why I see ETH rising to $ 20,000 to $ 25,000 this cycle.»

At the time of writing, the price of Ethereum is $ 2,314. DeFi Dad’s forecast suggests that ETH will grow by 800%-1000%.

As for the ETH-ETF, analysts at Standard Chartered Bank expect the SEC to approve the launch of a spot exchange-traded fund for Ethereum as early as May this year. «We expect the current applications to be approved on May 23. This is the deadline for the first of the pending applications, similar to January 10 for spot bitcoin ETFs ,» analysts said. The SEC has not classified ethereum as a security, so the launch of spot ETFs is likely. Moreover, ETH futures funds have already been approved.