A crypto analyst notes that while spot Ether ETFs have gained “Wall Street attention,” they now compete directly with tech stocks, which are delivering “better revenue and multiples.”
Contrary to wider belief, an analyst argues Ether has a slim chance of hitting new all-time highs by the end of 2024, as it has struggled to build a strong narrative and keep up with the appeal of tech stocks.
However, several traders are adamant a price spike is just around the corner.
“Right now, Ethereum is struggling with a lack of a strong narrative to drive its price, especially compared to other assets,” crypto derivatives platform Derive founder and former Wall Street trader Nick Forster told Cointelegraph.
