TechFlow news, according to CoinDesk, Coinbase stated in a research report released on Wednesday that Ethereum (ETH) has underperformed the broader cryptocurrency market this year, but its long-term positioning remains strong with potential for upside surprises. It added that Ethereum does not face oversupply issues such as token unlocks or miner sell-off pressure. ETH’s role as the center of decentralized finance (DeFi) is also unlikely to be replaced, and the market may be underestimating the timing and likelihood of approval for a spot U.S. Ethereum ETF.
Furthermore, the significance of a potential spot U.S. Ethereum exchange-traded fund (ETF) should not be underestimated. Coinbase said: "We believe the market may be underestimating the timing and likelihood of a potential approval, leaving room for positive surprises."
