Main to remember
- Fidelity considers ETH as a value store, similar to the currency of emerging savings. ETH briefly overthrew BTC in the volume of negotiation and speculative interest.
Ethereum (ETH) To all the attention of Wall Street, with the company of asset manager Fidelity now considering ETH as a value store (SOV) and an alternative to preserve wealth.
In his latest report, the asset manager declared,,
“Ether is used to pay any transaction on Ethereum blockchain, whatever The type of transaction… Ether can serve as a means of exchange and reserve of value. »»
Fidelity added that blockchains have an integrated currency (ETH for the Ethereum network), so should be compared to sovereign nations and their savings, not to Web 2 companies.
The firm also pointed out that the ETH is the most negotiated asset on the scholarships And also acts as “the main asset to borrow”.
Market reactions
The above update was considered a relief and a vote of trust in the ETH. In 2024, the ETH underwent a massive disconnection and divergence from the BTC market.
At that time, the Altcoin was under intense pressure so as not to be a SOV like BTC. He dropped by almost 70% against BTC and lagged behind the same Solana (soil).
Thus, the Fidelity report was welcomed, in particular by the members of Pro-eth.
Reacting to the report, Sassal, an Ethereum educator, called It is “bullish”, declaring that the ETH is undervalued.
“ETH is an asset of $ 100 billion at $ 316 billion.”
More recently, analysts made optimistic projections For ETH in the middle of a boom in the stable reserve and internet capital markets (chain shares).
After updating loyalty, the feeling of ethgreed“Level and pumped from 2.8% to $ 2.6,000.
Overall, the growing positive feeling has since triggered the ETH to return the BTC in the volume of daily negotiation and the speculative interest, by Coiglass data.
Source: Coringlass
In particular, at the time of the press, the open interest rate of ETH (OI) jumped 7% compared to -0.18% BTC. This underlines the massive demand for ETH on the term market.
During the same period, the volume of derivative negotiations increased to $ 59 billion, or about $ 3 billion more than the BTC. If the trend continues, ETH could surpass the BTC in the short term, in terms of investor yields.
That said, the market for the final district 3 (Q3) was optimistic with a Put / Call ratio of 0.44, highlighting a premium for calls (Paris Haussiers) on Put (Paris lowering).
Source: Denibit
Most of the bullish targets were $ 2.8,000 and $ 3.2,000 with maximum pain (potential soil price, where optional contracts expire worth $ 2,000.
Overall, the ETH could still be moderate below $ 3,000 in the third quarter, but the options of options were still bet for a potential break.
