The largest altcoin Ethereum (ETH) failed to perform as expected despite the SEC’s approval of a spot Ethereum ETF.
While this situation caused investors to expect losses in ETH, an interesting claim came from CryptoQuant CEO Ki Young Ju for ETH.
Sharing about Ethereum from his X account, Ju said that ETH is fundamentally similar to stablecoins due to its price stability.
CryptoQuant CEO wrote that Ethereum (ETH) acts like a stablecoin due to its price movements.
Noting that ETH has consistently traded at $3,160 in some months in 2021, 2022, 2024 and 2025, Ki Young Ju said:
“MAY 2021 Ethereum $3,160 AUGUST 2021 Ethereum $3,160 JANUARY 2022 Ethereum $3,160 MARCH 2022 Ethereum $3,160 APRIL 2022 Ethereum $3,160 MARCH 2024 Ethereum $3,160 MAY 2024 Ethereum $3,160 JULY 2024 Ethereum $3,160 NOVEMBER 2024 Ethereum $3,160 JANUARY 2025 Ethereum $3,160”
ETH is a stablecoin.”
While CryptoQuant CEO likened Ethereum to a stablecoin, Deribit Asia Business Development Head Lin Chen stated that the crypto options market at X predicts a 10.62% probability that the Ethereum price will exceed $4,000 by the end of the month.
Ethereum, which has gained 3% in the last 24 hours, continues to be traded at $3,246 at the time of writing.
https://twitter.com/ki_young_ju/status/1878996132506005584
*Not investment advice
