Joseph Hogue sees the iShares Ethereum Trust (ETHA) as a buy, noting that retail investors giving up on crypto often signals a bottom. He points to Ethereum whales being net buyers when the price plunged below $2,000, creating a floor of support. He believes the evolving era of tokenization will run on the Ethereum network, driving its value well beyond its previous peak.
“Data by FX Street shows Ethereum whales. So, accounts holding between 20 and $200 million were net buyers over over a billion dollars in Ether earlier in February when that price plunged below $2,000 each.”