Grok AI predicts Ethereum price for the end of 2024

Ethereum (ETH) is the second-largest cryptocurrency by market cap and a leader in its Web3 and decentralized finance (DeFi) niche. Up nearly 100% in 2023, ETH investors now turn their eyes to the token's performance in 2024.

Timeline of Ethereum

Ethereum Price Prediction: After Grayscale's GBTC outflow slowed down, the overall market saw a reduction in selling pressure, sparking a relief rally across cryptocurrencies. This change in market dynamics, coupled with increased buying interest, allowed the Ethereum (ETH) Price to recover from its local support level of $2170 in late January.

Ether (ETH), the native token of Ethereum's blockchain, could be poised for a huge breakout. Well-known crypto trader Michaël van de Poppe is optimistic about ETH's near-term future, predicting it could soon rocket by over 70% from its current price.

The spot Bitcoin ETF approval created a buzz in the crypto space and has put crypto on the path to mass adoption and Bitcoin as an asset class that can coexist with traditional assets. After US spot Bitcoin ETF approval, spot Ethereum ETF approval is anticipated.

The U.S. Securities and Exchange Commission (SEC) has delayed its decisions on spot ethereum exchange-traded funds (ETFs) proposed by Blackrock, the world's largest asset manager, and Grayscale Investments. Grayscale is seeking to convert its existing Ethereum Trust into a spot ETF. Spot Ethereum ETF Decisions Delayed by SEC This week, the U.S.

XRP appears to have begun its market movements earlier than anticipated. The chart shows a notable shift from the recent sideways trading pattern, as XRP starts to carve out a new direction.

Steven Nerayoff, a former advisor to Ethereum, who is currently preparing a lawsuit against Ethereum founders Vitalik Buterin and Joseph Lubin, has disclosed a pivotal decision from his past. In a detailed statement on X (formerly Twitter), Nerayoff claims that he had turned down an allocation of over 1 million Ether (ETH).

The Securities and Exchange Commission is predicted to delay the approval of spot Ethereum (CRYPTO: ETH) exchange-traded funds (ETFs), according to investment bank TD Cowen. What Happened: TD Cowen, as reported by The Block on Thursday, anticipates that the SEC will not greenlight Ethereum ETFs before the May approval deadline.

Rocket pool- Blockchain for ETH staking Rocket Pool is a decentralized staking protocol providing liquid and node staking products for the Ethereum (ETH) ecosystem. Stakers- are individuals or users from API-integrated businesses.

Prominent analytics firm IntoTheBlock says that traders are operating under the assumption that Ethereum (ETH) will be the next crypto asset to get a spot market exchange-traded fund (ETF).

Ethereum, the world's second-largest cryptocurrency, has recently experienced a remarkable surge in value, outshining Bitcoin with a 14% price increase in just two weeks. This surge has taken Ethereum above a crucial psychological barrier, surpassing $2,600 for the first time since May 2022.