Ethereum (ETH) Is Undervalued In Terms of Institutional Buying, Estimated Price $903


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Ethereum price prediction 2021 4

Along with Bitcoin (BTC), Ethereum (ETH) has been making some strong moves northwards moving past $700 levels and hitting its new 2020-high at $744. At press time, Ethereum is holding strong at $730 levels with a market cap of $83 billion. The next target for ETH currently stands at $800 as the world’s second-largest cryptocurrency eyes a $100 billion market cap in a short time.

Even at the current price, ETH is still trading at a 50% discount from its all-time high of $1400. Several market analysts are saying that once the Bitcoin (BTC) rally cools down, major money will start flowing into Ethereum (ETH). CryptoQuant CEO Ki-Young Ju states that “ETH is undervalued in terms of institutional buying”. The only reason probably behind this is BTC institutional money inflows are still going strong at the moment.

Ju further adds that if Grayscale clients rebalance their portfolio based on the ETH market cap, then the true price of its should be $903.

Well, as per the latest update, the Grayscale Ethereum Trust (ETHE) has moved past $2.1 billion in assets under management. This is $400 million more than the AUM of ETHE on Christmas Day. This clearly goes to show that the recent ETH price rally has been supported by institutional buying.

Supporting Ju’s views on ETH institutional interest, another crypto analyst Joseph Young explained why it makes sense fundamentally for institutional money to flow into Ethereum. He added:

“The BIG reason institutions would naturally move into $ETH after Bitcoin is regulatory clarity. Ethereum is the ONLY other cryptocurrency an SEC official clarified as a non-security. This is *very very* critical. 

The reason why the regulatory clarity around Ethereum becomes more appealing is because of the XRP lawsuit by the SEC. Institutions wouldn’t want anything to do with anything that could be a security, ever. The SEC is becoming more active too. So, it makes sense fundamentally”.

Many analysts have stated that 2021 could be the year for Ethereum. With the launch of CME Ether Futures in February 2021, institutional interest in ETH is more likely to spike up further.

The post Ethereum (ETH) Is Undervalued In Terms of Institutional Buying, Estimated Price $903 appeared first on Coingape.

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