JPMorgan predicts Ethereum (ETH) will outperform Bitcoin in 2024
A new analysis by JPMorgan dragged attention toward Ethereum’s EIP-4844.
JPMorgan Chase & Co. is a US-based global international financial company, headquartered in New York City and incorporated in Delaware. This is the largest bank in the US and the world’s largest bank by market capitalization. This bank has its blockchain technology-powered digital currency JPM coin, to provide fast payment services.
Jamie Dimon, the CEO of JPMorgan, is a very big hater of cryptocurrencies, including Bitcoin & Ethereum, despite JPMorgan already adopting Crypto & blockchain technology and also planning to offer Bitcoin & Ethereum services to customers.
On 13 Dec 2023, An analysis by JPMorgan analyst Nikolaos Panigirtzoglou came where JPMorgan shared its analysis on Ethereum vs the entire crypto market future performance.
JPMorgan expects that Ethereum will outperform Bitcoin as well as all the other crypto assets and also it will slowly grab a very big market share step by step.
This Ethereum-supportive prediction by JPMorgan is mainly based on Ethereum’s EIP-4844 upgrade or Protodanksharding, which is expected to take place during the first half of 2024.
Under the EIP-4844 upgrade, the Ethereum network will show significant network efficiency improvement that will further increase network activity.
After this upgrade in Ethereum, all the Ethereum layer-2 scaling networks like Polygon, Arbitrum, Optimism, etc will also get huge benefits as this upgrade will bring more ability for the layer-2 networks to increase network throughput as it will give some more temporary data space.
Ethereum (ETH) price action
The current trade price of Ethereum is $2,299 & this trade price is 9.5% higher over the last 30 days of trade price.
This year some fund managers showed their interest in launching Ethereum spot ETF products, to allow big investors to invest their money in Ethereum.
At present, nearly 7 Ethereum spot ETF applications are on the table of the United States Securities and Exchange Commission (SEC) which are waiting for regulatory approval.
Just recently the SEC body postponed its decision on the Invesco Galaxy Ethereum Spot ETF, with a new deadline of February 6, 2024.
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