Ethereum News Update: Supporters Highlight Supercycle Potential While Skeptics Challenge Ethereum’s Practical Value
- Ethereum faced $1.42B ETF outflows in November, its largest monthly withdrawal since 2024 launch. - BitMine Immersion Technologies countered with $173M ETH purchase, stabilizing price above $3,000 amid institutional exodus. - Tom Lee predicts ETH's "supercycle" akin to Bitcoin's 100x gains, citing Layer-2 growth and institutional adoption. - Critics question Ethereum's unique utility, challenging its defensibility beyond market share and 24/7 trading viability. - 350M monthly blockchain requests highligh
Ethereum (ETH) experienced notable capital outflows in November, with U.S. spot ETFs seeing $1.42 billion in net withdrawals—the highest monthly outflow since their debut in 2024. Despite this selling trend, treasury company
The recent volatility has reignited discussions about Ethereum’s future prospects. Tom Lee, who serves as executive chairman of BitMine Immersion Technologies and is a well-known crypto strategist, stated in a recent X post that ETH may be entering a "supercycle" similar to Bitcoin’s. Referring to Bitcoin’s 100-fold increase since 2017, Lee highlighted that price swings are a natural part of crypto markets, and pointed to Ethereum’s Layer-2 developments and growing institutional interest as drivers for continued expansion. “Progress won’t be linear,” he warned, referencing
Still, skeptics have voiced their doubts, questioning what sets Ethereum apart. A notable
At the same time, Ethereum’s on-chain metrics remain a crucial indicator. Monthly blockchain activity, including transaction simulations, averaged 350 million, showing steady interest in decentralized apps. Nevertheless, the November outflows reveal a disconnect between retail and institutional attitudes. While BitMine’s $173 million ETH acquisition points to deliberate accumulation,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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