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While ethereum updates are progressing towards the adoption of long -term blockchain, they lack the immediate impact necessary to boost the upward feeling in the market, analysts point out.
ethereum (eth) has been fighting to keep up with bitcoin (btc) since the merger in 2022, without causing the upward movements that many expected, analysts say.
In a recent one Research noteThe Blockchain firm based in Singapore, Matrixport, said that most ethereum updates have had little effect on the eth price. Instead of creating instantaneous changes in the market, these updates seem to be part of a long -term strategy for broader block chain adoption. “These updates seem to serve as incremental steps,” says Matrixport.
Wall Street's interest in Spot ethereum Exchange Funds has also been quite up and down, analysts point out. They also point out that ethereum has not kept up to date with the newest trends, and many people choose to issue meme coins in cheaper networks.
“ethereum still faces challenges to solidify its value proposition,” said Matrixport. However, there is still good news: Tether's broadcast in ethereum has recently overcome that in Tron (TRX), although the latter “is a cheaper option,” analysts point out.
As crypto.News mentioned earlier, ethereum has been left behind bitcoin this year, remaining in a technical bears market after falling 22% from its maximum 2024. However, several factors point to the possibility of a bullish break, and some expect ethereum to have reached $ 5,000 in the coming weeks.
ethereum's price has traditionally done well in February. Since 2019, it has published positive returns every February, with an average growth of 17% since 2017. While past trends cannot serve as a guarantee, there is a growing optimism in the cryptographic community that ethereum could see profits in February.