Coinbase: Ethereum may rise in the coming months
ChainCatcher news, Coinbase stated in a research report on Wednesday that ETH has underperformed compared to the broader crypto market this year, but its long-term positioning remains strong and has the potential for unexpected upside.
The report stated: "Ethereum may experience unexpected upside in the coming months, as this cryptocurrency does not have a major source of 'supply-side excess,' such as pressure from token unlocks or miner sales. In our view, due to the widespread adoption of the Ethereum Virtual Machine (EVM) and its Layer 2 innovations, ETH's position as the center of DeFi is also unlikely to be replaced."
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