Bittime - In the midst of the crypto market turmoil characterized by Bitcoin price corrections and volatility in other digital assets, two names have emerged as new stars ready to shine: Ethereum and Solana. The latest report from renowned brokerage firm Bernstein expressed optimism about the medium-term prospects of these two blockchain platforms.
Ethereum: Into a New Era with ETFs and Staking
Bernstein projects a bright future for Ethereum, driven by the potential approval of Ethereum-based Exchange Traded Funds (ETFs) by the United States Securities and Exchange Commission (SEC). The approval of the Ether (ETH) spot ETF, Ethereum's native cryptocurrency, is predicted to be a milestone for the platform, matching the achievement of Bitcoin which had previously received the green light from the SEC.
The probability of Ether spot ETF approval in May is estimated at 50%, with an almost certain chance in the next 12 months. This optimism is further strengthened by strong interest from well-known financial players such as Franklin Templeton, BlackRock, and Fidelity, which have successfully obtained approval for a Bitcoin ETF and are now applying for an ETF for Ether.
Bernstein's report suggests that other leading blockchain ecosystems, such as Solana, BNB Chain, Avalanche, Aptos, and SUI, could collectively reach a valuation of $1.4 trillion. Solana, in particular, is predicted to lead in the development of consumer-based applications such as stablecoin payments and online gaming.
Ethereum's appeal for mainstream institutional adoption is undeniable. Dynamic staking yields, environmentally friendly design, and network capacity to give birth to new financial markets are Ethereum's main advantages. The growth of the Ether yield market is predicted to drive the design of new ETFs that incorporate staking yields.
Ethereum's efforts in reducing transaction fees through the latest Dencun upgrade are worthy of appreciation. This effort has succeeded in reducing transaction costs by 50% - 90%. Bernstein projects the overall valuation of the Ethereum ecosystem, including the Ethereum network, staking infrastructure, Layer 2 network , and Ethereum-based DeFi applications, to reach $1.8 trillion.
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Solana: High Innovation and Scalability
Solana, a new generation blockchain platform known for its high scalability, did not escape Bernstein's spotlight. The platform is predicted to play an important role in the development of decentralized applications (dApps) and innovative decentralized finance (DeFi) solutions.
Solana's (SOL) unique architecture enables incredible transaction throughput, far exceeding Ethereum and other blockchain platforms. These advantages make Solana an ideal platform for various applications that require high speed and scalability, such as online games, trading platforms and decentralized financial markets.
Solana has also attracted the interest of well-known developers and investors. Recently, Solana Ventures, Solana's internal venture fund, announced a $100 million investment in the Solana Ignition project. These funds will be used to support the development of new infrastructure and applications on the Solana network.
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Bitcoin: Temporary Correction and Long-Term Outlook
Bernstein's report also discusses Bitcoin, the world's first and largest digital asset. Bitcoin's price correction of $10,000 from its all-time high above $73,000 to around $63,000 is considered an attractive buying opportunity ahead of the halving event in April.
Bernstein described Bitcoin's current consolidation phase as temporary. This phase actually offers an opportunity for traders to readjust their risk exposure before the halving event. Bernstein analysts maintain a bullish outlook on Bitcoin and the entire crypto ecosystem, seeing the next 18 months as an opportunity for growth.
Previously, Bernstein argued that shares of public mining companies were the best equity benchmark for predicting Bitcoin's price trajectory, especially ahead of the 2024-2025 cycle target. They also predict a threefold increase in overall crypto market capitalization to $7.5 trillion by the end of 2025.
Conclusion
Bernstein's report provides a comprehensive overview of the current crypto landscape and its future prospects. Amidst the dominance of Bitcoin, Ethereum and Solana, along with other blockchain ecosystems, show great potential to grow rapidly and play an important role in the development of blockchain technology and the global adoption of crypto assets. Investors who are interested in the world of crypto certainly need to pay attention to the latest developments from these two main players, Ethereum and Solana.
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How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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