CryptoIntelligence 2024-07-21 00:11:31

Ethereum Price May Decline as Spot ETFs Launch Amid Increasing Supply, Analysts Warn

Ethereum‘s price may decline after the initial excitement surrounding spot Ethereum exchange-traded funds (ETF) fades, especially if its supply continues to grow at the current rate, according to an analyst. “If the supply of ETH keeps increasing by ~60k/month like it has been since April, then by Dec the supply will be back to what it was at the merge,” noted crypto trader and Into The Cryptoverse founder Benjamin Cowen in a July 19 X post. This refers to the period when Ethereum transitioned to its proof-of-stake consensus model in September 2022. Post-Merge, Ethereum became deflationary, reducing its supply by

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