- Ethereum’s EIP 4844 upgrade has already attracted the attention of institutional investors, according to Crypto Banter.
- VanEck predicted that ETH could be worth $11,849 by 2030.
- At press time, ETH was trading hands at $1,847.73 after a 0.12% price drop.
Ethereum’s (ETH) Cancun Upgrade (EIP 4844) will not only drive cost-effective integration of Layer 2 solutions, but it has already caught the attention of several major institutional investors, according to one of Crypto Banter’s latest YouTube videos. EIP-4844 is set to play a pivotal role in reducing integration costs for Layer-2 projects.
The broader implications of EIP-4844 have garnered attention from major institutions, positioning Ethereum as a foundational layer for the emerging “internet of value.” According to Crypto Banter, prominent entities like Coca-Cola and Showtime are already exploring Ethereum’s capabilities for facilitating transactions and innovative applications.
Institutional involvement is further underscored by the entry of well-established financial entities into the Ethereum ecosystem. Crypto Banter highlighted the recent decision by the U.S. Securities and Exchange Commission (SEC) to greenlight Ethereum Futures Exchange-Traded Funds (ETFs) marks a significant step towards broader adoption.
Additionally, the video also mentioned that institutions are delving into Ethereum’s potential for the future. Notably, VanEck, a renowned institution managing assets worth $77.8 billion, has released an in-depth research report on Ethereum.
VanEck’s projections for Ethereum’s future value were included in the report and provided insights into its potential growth. According to Crypto Banter, the institution’s base case scenario estimates Ethereum’s value at $11,849 by 2030. However, their optimistic scenario envisions Ethereum reaching an impressive $51,000 by the same year.
Meanwhile, CoinMarketCap indicated that ETH’s price fell by 0.12% over the past 24 hours, which left the leading altcoin trading hands at $1,847.73. This meant that, at press time, ETH was trading a bit closer to its daily low of $1,842.72 than its daily high of $1,863.31.
The slip in ETH’s price also meant that it weakened against its competitor, Bitcoin (BTC), by about 0.10% throughout the past day. It is also worth noting that ETH’s price drop was accompanied by a 14+% drop in its 24-hour trading volume. As a result, the altcoin’s intraday volume stood at $3,705,929,236 at press time.
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