Key Takeaways
Ethereum was setting up just like it did in the 2017 cycle. With the dwindling supply of ETH on CEXs at 13.4% lower than that of Bitcoin, a rally could be imminent. Can institutions make this happen?
Ethereum [ETH] was trading at $3,435 at the time of writing, with the altcoin up about 8% in the last 24 hours.
The daily trading volume was about $52M at the time of writing, about $20M short of what Bitcoin [BTC] had.
As the altcoin continues to rally, analysts are betting on it to repeat previous successes. Can Ethereum do it?
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