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Steno Researchan independent macroeconomic, geopolitical and cryptocurrency research firm, has predicted that theETF spot su ETHdue to begin trading in early July, will take ETH to $6,500.
Steno’s latest post on the topic predicts that spot Ethereum ETFs will perform better than top analysts expect, leading to up to $20 billion in inflows this year.
All projects built on Ethereum, such as WienerAI, the new meme coin that integrates artificial intelligence to create a trading bot, which is one step away from the threshold of $7 million in pre-sales.
Steno Research Claims Ethereum Will Hit $6,500 With Spot ETFs
Steno Researchan insights institute focused on macroeconomics and cryptocurrencies, has released its predictions on how the crypto market will behave with the upcoming trading of spot ETH exchange-traded funds (ETFs).
Steno’s view differs from the bearish view of other market analysts such as Eric Balchunas and James Seyffartwho predicted that ETFs will only be able to capture 10% to 20% of the inflows their Bitcoin counterparts have seen this year.
So spot Ethereum ETFs would only see inflows totaling $1.5 to $3 billion, significantly behind their Bitcoin counterparts. Steno, on the other hand, believes these estimates are far from reality, arguing that ETH ETFs will attract inflows of between $15 billion and $20 billion during their first year of trading.
This scenario also includes possible outflows from theEthereum Grayscale Trust.
Spot ETH ETFs: Is Steno Research’s Scenario Possible?
According to Steno Research, this increased demand will therefore push ETH to $6,500, so the ETH/BTC ratio, currently around 0.05, will rise to 0.065. “This will happen mainly because we believe the market shares the prevailing pessimistic view on Ethereum spot ETFs,” Steno said.
While there has been no official announcement as to when these ETFs will begin trading, Steno Research and other analysts estimate that this will happen in early Julygiven the relatively few comments received on the S-1 documents, in which ETF issuers detail the internal workings of these instruments, indicating the launch as imminent.
Bitcoinhas raised more than $20 billion through its ETFs to date, so Steno Research’s indications are quite unlikely for an asset that is second-tier, in terms of capitalization, compared to Bitcoin.
Meanwhile, new projects, built on Ethereum, could aim high thanks to events like this, if they were to occur: WienerAI has already surpassed $6.9 million in pre-sale and could, according to experts, also do 100x con il listingas well as benefiting from the recent ASI merger.
WienerAI Is the AI Meme Coin One Step Closer to $7 Million in Pre-Sale
WienerAI is the new meme coin that combines artificial intelligence and fun created by memes, thus overcoming $6.9 million in pre-sales. Its mascot is a cute dog mixed with a sausage, with the trading bot which is an innovative tool for seamless trading, paying zero commissions and getting MEV protection.
With this bot, you can scan the market 24/7 to identify potential trading opportunities based on predictive analytics and execute these trades on all possible DEXs.
Those who want can also take advantage of the possibility of obtaining passive income with staking, which currently offers a 164% return. Right now one token costs $0.000724, so anyone interested should participate early before this figure goes up.
Those who want to buy WAI can connect their crypto wallet to the official project page and exchange ETH, USDT, use the BNB chain or a bank credit/debit card. At the end of the process, you can decide whether to click on “Buy Now” to finalize the purchase or on “Buy and Stake for XYZ Rewards“, to immediately block the tokens.
*This article was paid for. Cryptonomist did not write the article or test the platform.
