Pale Ethereum (ETH) price gains are nowhere near the splendid performance of decentralized financial service assets. The latest releases of on-chain data insights look like one more cause for concern for Ethereum (ETH) bulls.
Volatility spread inches sub-zero zones
As revealed by the Skew analytic team, which provides in-depth analyses of various processes in the cryptocurrency industry, Ethereum's (ETH) volatility almost matches that of Bitcoin (BTC) despite the situation in both major crypto industry camps being fundamentally different.
Skew analysts announced that volatility on the Ethereum (ETH) options market is only 2% higher than on Bitcoin (BTC) markets. To compare, the yearly average level of this indicator exceeds 10%.
During the Black Thursday market panic, Ethereum (ETH) was 45% more volatile than its competitor. Some traders, in a semi-ironic manner, noticed that Ethereans wouldn't again have a more attractive opportunity to buy the minimum 32-ETH stake required for validating in Ethereum 2.0.
Fundamentally, the Ethereum (ETH) price has an enormous quantity of catalysts. The upcoming roll-out of Ethereum 2.0, the rapid increase of the gas limit and, primarily, the insane hype around the DeFi segment could make its price go through the roof.
Bitcoin (BTC) doesn't have anything like that. It failed to surge after May 10th, demonstrating only fake 'Bart Simpson' rallies and hasn't managed to stay in five-digit zones for long. Its only anticipated technical milestone, the Schnorr-Taproot cryptography release, may not even be implemented by Q4, 2020.
It's the calm before the storm
However, analysts foresee that Ethereum (ETH) may make up for lost time in the mid-term perspective. Legendary investor Dan Tapiero is predicting an 'explosive upmove' of the Ether price due to strong technological and trading fundamentals.
Also, Dutch cryptocurrency trader and analyst Michael van de Poppe published a couple of charts suggesting that Ethereum (ETH) may reach $300 by the end of the Summer.
Prominent blockchain evangelist from Australia, Alex Saunders, has set even more ambitious targets for Ethereum (ETH). Discussing its prospects with Ethereum (ETH) devs and investors, he suggested that the four-digit level is in the cards.