Ethereum’s Resilience and Potential: A Coinbase Perspective on ETH’s $15,000 Rally Prospects
Ethereum (ETH) experienced a turbulent start to 2024, with its price plummeting by over 50% between January and April, bottoming out at $1,300. This decline was marked by extreme short positioning against ETH, while traders remained bullish on Bitcoin—a scenario described by Eric Jackson of EMJ Capital as "seller exhaustion." Despite this downturn, Ethereum demonstrated remarkable resilience, rebounding strongly and reaffirming its position as a cornerstone of the cryptocurrency market. Institutional catalysts are now poised to play a pivotal role in ETH's future trajectory, with potential for a rally to $15,000 in the next cycle. This article explores the factors driving Ethereum's recovery and its prospects on platforms like Coinbase.
Ethereum Price Prediction: Could ETH Rally to $15,000 in the Next Cycle?
Ethereum (ETH) faced significant downward pressure in early 2024, losing over half its value between January and April. The decline to $1,300 reflected extreme short positioning against ETH while traders remained long Bitcoin—a dynamic Eric Jackson of EMJ Capital describes as "seller exhaustion." The subsequent rebound highlights Ethereum's resilience as a core crypto asset.
Institutional catalysts loom large. BlackRock's push for ethereum ETFs with staking functionality could unlock billions in institutional capital. SEC approval, expected by October, would let investors earn yield through regulated vehicles—a game-changer for ETH's demand profile. Jackson frames this as the floodgates opening.
Beyond speculation, Ethereum's utility as financial infrastructure grows. Major platforms like Shopify and Robinhood now integrate its network, while stablecoins such as USDC demonstrate its settlement capabilities. This isn't just digital oil—it's becoming the rails for global value transfer.
Citigroup Explores Stablecoin Custody and Crypto ETF Services in Digital Asset Push
Citigroup is preparing a major expansion into digital assets, with plans to offer custody services for stablecoin reserves and crypto-based ETFs. The bank's MOVE positions it as a direct competitor to established crypto custodians like Coinbase, leveraging recent regulatory shifts that favor traditional financial institutions.
The initiative focuses on safeguarding assets backing stablecoins—primarily US Treasuries and cash—while also developing solutions to accelerate stablecoin payments. Custody services for underlying assets in crypto ETFs are under active consideration, capitalizing on the segment's explosive growth.
This strategic pivot follows the GENIUS Act and other regulatory changes that have opened stablecoin infrastructure to banks. Citigroup appears poised to challenge Coinbase's dominant 80% share in ETF custody, with potential plans to issue its own stablecoin in the future.
Gemini Seeks Nasdaq Debut Amid Rising Crypto IPO Wave Despite Losses
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is preparing for a Nasdaq listing under the ticker GEMI. The move comes as part of a broader surge in crypto-related IPOs, despite the company reporting widening losses. Goldman Sachs, Citi, Morgan Stanley, and Cantor are leading the deal, with proceeds earmarked for corporate purposes and debt repayment.
Financial disclosures reveal a net loss of $282.5 million on $68.6 million in revenue for the first half of 2025—a stark contrast to the $41.4 million loss on $74.3 million revenue during the same period last year. The exchange's struggles haven't dampened Wall Street's appetite for crypto listings, following strong debuts from Circle and Bullish earlier this year.
Gemini's stablecoin business may benefit from recent regulatory clarity under the GENIUS Act. The listing attempt underscores growing institutional acceptance of digital asset firms, even as profitability remains elusive for some industry players.
Traders Accumulate Solana and Bitcoin Hyper as Altcoin Season Looms
The crypto market braces for a potential altcoin surge, with Coinbase's latest report pinpointing September as the likely starting point. Bitcoin dominance hovers near six-month lows while the Altcoin Season Index climbs 12 points this week—a confluence of signals suggesting capital may soon rotate aggressively into alternative cryptocurrencies.
Solana demonstrates particular strength, with its whale holder count reaching record levels despite broader market dips. Meanwhile, Bitcoin Hyper's presale approaches the $10 million milestone, reflecting growing speculative interest. Ethereum's relative strength and returning liquidity further bolster the case for an impending altcoin rally.
Market participants appear to be positioning early, with accumulation patterns in select projects defying the recent 24-hour downturn. The stage is set for what could become a textbook altcoin season—provided current trends hold through the summer's end.