ETH might be a better cryptocurrency of the future than Bitcoin. The chances of a strong ETH rally are still low. Now that the crypto market has wrapped up a bearish 2022, crypto investors are likely re-evaluating their portfolios in preparation for the next 12 months. All sorts of opinions have been presented but one […]
has more use cases that span multiple segments including NFTs, dApps, and DeFi. According to Ghoddusifar’s assessment, the demand from these multiple segments has the potential to make ETH more useful.But can ETH really knock out BTC as the top crypto in 2023? It is true that Ethereum really packs a strong punch in terms of utility. However, BTC has demonstrated on multiple instances that it is the heavyweight champion of the crypto world.
In addition, fund holdings registered outflows in December, suggesting that institutional investors were trimming their ETH balances. The lack of institutional buying pressure means any upside in the next few days might be limited. Note that this does not necessarily have to be the case if the bullish start this week marks the start of the next bear market. That is a big “if” but if it happens, then we might see a resurgence of institutional demand.
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