Merkle: Ethereum hits new record with room to rise further

Record institutional inflows, favourable regulations, and growing corporate adoption have vaulted Ethereum (ETH) to a record price that could keep rising, says digital asset fund manager Merkle Capital.

- NUNTAWUN POLKUAMDEE

Ethereum, the second-largest cryptocurrency behind Bitcoin in terms of market capitalisation, recently hita new high before undergoing a correction, said Woramet Chansen, an investment advisor at Merkle Capital.

“Institutional money is flowing in, regulatory clarity is improving, and major corporations are continuing to accumulate Ethereum. This represents a golden opportunity that investors should not overlook,’ he said.

The cryptocurrency surged from around US$$3,500 to an all-time high of $4,800 before correcting to $4,100. The year’s low is $1,500, underscoring the volatility of the asset as well as investor confidence in its long-term growth trajectory, said Mr Woramet.