Coinbase Predicts Bullish Surge for ETH Despite 2022 Underperformance

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

May 17, 2024 19:27

The leading CEX, Coinbase, is quite bullish on ETH’s price potential despite its underperformance in 2022. The exchange claims that ETH may surprise to the upside in the coming months and considers Ethereum to be the heart of the existing DeFi landscape, a position unlikely to change anytime soon due to the widespread adoption of the Ethereum Virtual Machine (EVM) and its layer 2 innovations. Notably, Coinbase is also optimistic about the approval of the Spot Ethereum ETF in the US. Even if the first deadline encounters a rejection, litigation is likely to reverse this decision, while the broader market may be underestimating the timing and odds of its potential approval.