The firm is bullish on the premier altcoin in the short-term but is not so enthusiastic in the mid-term . Overall, it has a positive outlook regarding ETH in the long-term .Source: Fidelity
Fidelity attributes its bullish outlook to a higher burn rate than issuance on the Ethereum network. In fact, more than 700,000 tokens have been removed from the network since theAccording to the report, the number of active Ethereum validators increased by 15% in the second quarter. The anticipation around EIP-1153 is also giving way to excitement around the Ethereum network. The update brings with it “transient storage opcode” that offers benefits such as improved efficiency and cost reduction.
Since April 2020, the total value locked on the Ethereum network has fallen to its lowest level, at 13.7 million ETH .Source: CoinMarketCap
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