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Ethereum headed to ‘the grave’ if SEC rejects ETH ETFs, say analysts

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Ethereum at a crossroad amidst increasing inflationary state and a possible 'ETF rejection' by SEC at the end of May.

“Ethereum looks like it’s going to the grave. A rejection of the spot ETF sends the ETHBTC ratio lower from 0.047 to 0.03 as a long-term projection.”The SEC’s decisions on most ETH ETF filings are due between late May and August. VanEck and Hashdex’s decisions are due on the 23rd and the 30th of May, respectively.Straten projects that an ETF rejection could further lower the ETHBTC ratio.

In an ETF rejection scenario, negative market sentiment and sell pressure could make ETH worth less in BTC terms.Ethereum is currently “issuing” more ETH than it “burns,” making it inflationary. This is the complete opposite of BTC’s fixed supply of 21 million coins. “Bitcoin fees continue to outpace ETH, with very little activity occurring on BTC. ETH has now transitioned into an inflationary state . Dencun upgrade reduces transaction fees, and the ETH burn rate increases the supply.”. It showed that 4.2K ETH was burnt in the past seven days, but 17.6K ETH was issued over the same period.

 

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