Why Ethereum and AI tokens could be your best bet in Q3
What effect do spot Ether ETPs have on Ethereum's price?
Spot Ether ETPs could potentially provide price support for Ethereum and tokens within its ecosystem. The approval and trading of these ETPs may increase interest and adoption of Ethereum, which could lead to rising activity and valuation support for specific Layer 2 tokens, DeFi protocols, and other crucial assets within the Ethereum network5.
What research supports Ethereum's positive outlook for Q3?
Grayscale Research supports Ethereum's positive outlook for Q3, attributing it to the recent approval of spot Ether exchange-traded products (ETPs) in the U.S. market, and the potential for blockchain technology to intersect with the field of Artificial Intelligence (AI). The research suggests that these developments could lead to increased interest and adoption of Ethereum, price support for ETH, and positive performance for tokens within its ecosystem.
How have AI tokens performed year-to-date?
AI tokens have demonstrated strong performance year-to-date, outpacing the overall crypto sector's market index. Tokens like RNDR, TAO, and FET have experienced significant growth, driven by their association with artificial intelligence and the increasing interest in AI-related projects within the blockchain ecosystem.