🐂 #ETH Ethereum forecast from Citigroup:

◽️Bullish scenario: $6400 by the end of the year.

◽️Base scenario: $4,300 by the end of the year.

◽️Bear scenario: $2200 by the end of the year.

Key theses:

• Network activity remains the main driver of ETH assessment, but growth mainly goes to L2, where the value for the base layer of Ethereum is doubtful.

• The bank believes that only 30% of L2 activity is reflected in the price of ETH.

• Ethereum can be supported by tokenization, stablecoins and inflows to ETFs.

• ETF inflows are smaller than BTC, but more efficient by the dollar. However, they are limited due to the lower capitalization and recognition of ETH.

@Сryptoz ₿