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Recent favorable conditions such as staking on exchange-traded funds (ETFs) and clearer regulations may propel Ethereum (ETH) towards $3,000 in the upcoming weeks, as noted by MEXC Research.
At the time of reporting, ETH was priced at $2,510, reflecting a 3% increase over the last 24 hours.
MEXC Research attributed this potential upward movement to two primary factors: new US regulations concerning dollar-pegged tokens and a resurgence in institutional interest.
The Senate approved the GENIUS Act earlier this month, forwarding the stablecoin-centric legislation to Congress for final approval.
MEXC Research indicated that Ethereum processes the highest volume of stablecoin transactions, thus the legislation “acts as a direct tailwind” by easing compliance challenges for entities that mint or redeem on the platform.
Moreover, ETFs reflected this trend. Data from Farside Investors revealed that monthly net inflows into spot Ethereum products hit $1.1 billion as of June 27, reversing a decline seen in spring and indicating a renewed allocation from asset managers who had previously scaled back on risk during the Middle East crisis.
Staking upgrades and technical metrics
The report noted that validators implemented a series of performance enhancements in May that reduced reward variability and decreased hardware requirements.
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MEXC Research stated that these advancements “enhance network security and throughput, particularly for custodial staking services aimed at pension funds and insurers.”
Applications operating on Ethereum have amassed over $26 billion in total user fees since 2015, primarily driven by Tether’s USDT stablecoin transactions, Uniswap trading activity, and Circle’s USDC movements.
Developers persist in launching new products despite macroeconomic uncertainties, which the desk characterized as indicative of “sustainable revenue generation.”
Speculation regarding a potential spot Solana ETF featuring embedded staking raised inquiries about whether regulators would permit similar attributes for Ethereum funds.
MEXC Research contended that a future staking element “only reinforces Ethereum’s fundamentals” while maintaining its price forecast unchanged.
Key levels and risk factors
MEXC Research noted that wallet data indicates “risk appetite gradually returning,” with leveraged perpetual positions increasing but still significantly below last year’s highs.
The report anticipates that ETH will reach $3,000 in the near term and forecasts a continuation towards $3,300 if momentum persists and global liquidity remains supportive.
Importantly, traders should monitor $2,440 as the initial support level. A sustained breach could lead to $2,350 and ultimately $2,100 if a geopolitical event triggers cross-asset selling.
The post Ethereum poised for $3,000 with regulatory tailwinds and ETF demand appeared first on CryptoSlate.
