Ethereum $2,656The price of rose yesterday amid the market recovery, reaching a peak of $2,687 in the last 24 hours. This price increase attracted the attention of investors and led to an increase in open interest. However, another reason for investors turning to Ethereum may be BlackRock CEO Larry Fink’s change of stance on cryptocurrencies.
BlackRock’s Ethereum Tokenization Plans
BlackRock, the world’s largest asset management firm, plans to tokenize $10 trillion worth of real-world assets on the Ethereum blockchain, a move that supports Ethereum’s ambition to become a leader in digital representation of real-world assets.
Remarkable Price Prediction for Ethereum from Analyst
A crypto analyst predicts that Ethereum will reach $29,000 by April 2025 after Fink’s changing stance on cryptocurrencies. This prediction is based on BlackRock’s extensive financial capabilities.
As it is known, Fink stated that he changed his perspective on Ethereum, saying, “My view five years ago was wrong.”
Ethereum Market Performance and Future
Ethereum’s price is rising amid rising open interest, according to data from Santiment. With increasing social media interest, ETH has recouped its recent losses and has the potential for further gains. Technical analysis suggests that Ethereum is continuing to rise above its current falling channel and toward the upper resistance levels.
A crypto analyst has stated that Ethereum is bound to reach $29,000 with the support of BlackRock.
The Impact of BlackRock’s Tokenized Asset Fund
BlackRock has launched a tokenized asset fund on the Ethereum network called the US Dollar Institutional Digital Liquidity Fund. The fund covers almost 30% of the $1.3 billion tokenized treasury market and has the potential to increase the price of Ethereum by increasing its demand and usage.
Ethereum is showing a significant uptrend amid the overall cryptocurrency market recovery. BlackRock’s support and CEO Fink’s changing view on cryptocurrencies are among the factors that could boost Ethereum’s future value. Investors expect the price to rise further thanks to Ethereum’s tokenization projects and increasing market interest.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
