Wall Street adoption may catalyze the first “supercycle” extending Ether’s price appreciation beyond the traditional four-year cycle, according to the largest corporate ETH holder.
This week in DeFi, a debate emerged about whether growing adoption among Wall Street participants may lead to the crypto market’s first extended “supercycle,” resulting in digital asset valuations rising beyond the historic four-year cycle’s time frame.
As the leading smart contract blockchain, Ethereum’s native Ether (ETH) token could be set to benefit from “Wall Street running into the blockchain,” according to BitMine, the largest corporate holder of ETH.
Despite the optimistic prediction, Ether’s price fell 13% over the past week, dropping below the $4,000 level for the first time since Aug. 8, Cointelegraph data shows.
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