The “fair” price of ETH has become known, and investors urge the SEC to tighten control over the cryptocurrency market
JPMorgan named the “fair” ethereum price
The “fair” price of ETH based on network activity indicators is at the level of $1,500. This statement was made by the strategist of the largest investment bank Nikolaos Panigirtzoglou.
In his opinion, the Ethereum network is less attractive than its current rate demonstrates. Panigirtzoglou pointed to other projects, such as Solana and Cardano, that could become competitors of ETH.
“We look at the hashrate and the number of unique addresses to try to understand the value for ethereum. We’re struggling to go above $1,500,”said JPMorgan strategist.
However, the head of the Skale Labs crypto project, Jack O’Holleran, believes that ETH will not lose its positions. According to him, “the majority of smart contract developers are building an ecosystem based on Ethereum, despite the announced partnerships in other networks.”
Investors urge the SEC to tighten control over the cryptocurrency market
A group of American public organizations in the United States informed the head of the SEC Gary Gensler that many crypto projects violate investor protection rules. Therefore, more attention should be directed to them.
“Without significant regulation, the digital asset market was born and evolved into the Wild West. There is an urgent need for the Commission and other federal financial regulators to enforce the law to better protect investors and strengthen the integrity and stability of digital asset markets, ” reads a message signed by Americans for Financial Reform Education Foundation, Consumer Federation of America and others, where there were mentioned stablecoins, crypto lending and exchanges.
Organizations believe that securing stable digital currencies, which includes money, commercial paper and corporate bonds, resembles traditional financial market funds. And it is vulnerable in crisis situations.