Decoding Ethereum’s role as ‘a store of value’ – Can ETH hit $3.2K soon?
2025-07-09 22:11:06
Main Idea
Fidelity views Ethereum (ETH) as a store of value (SoV) and highlights its potential to outperform Bitcoin (BTC) in speculative interest and market performance, with bullish targets set at $2.8K and $3.2K.
Key Points
1. Fidelity considers ETH a store of value and compares Ethereum's embedded currency (ETH) to sovereign nations' economies, not Web 2 firms.
2. ETH's speculative interest surpassed BTC, with a 7% increase in Open Interest (OI) against BTC's -0.18%, indicating strong demand in the Futures market.
3. ETH sentiment rose to 'greed' level, leading to a 2.8% price increase to $2.6K and flipping BTC in daily trading volume.
4. Bullish targets for ETH are set at $2.8K and $3.2K, with a Put/Call Ratio of 0.44 showing a premium for bullish bets.
5. ETH previously lagged behind BTC and Solana, dropping nearly 70% against BTC, but Fidelity's report has boosted confidence in its value.
Description
ETH's speculative interest surpassed BTC - Can it boost prices?
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