Fidelity Digital Assets has released a report stating that Ether’s outlook for the next 12 months and the long term is positive. They highlight factors such as the network’s higher burn rate, increasing number of Ethereum addresses, and growth in the number of network validators as reasons for their bullish outlook. Additionally, the anticipated upgrade on Uniswap, which includes the implementation of EIP-1153, is expected to reduce transaction costs and improve smart contract efficiency. However, high gas fees and lack of interest from leverage buyers may increase the odds of Ether’s price breaking below the channel support in the shorter term. A separate survey from CryptoVantage found that 47% of investors expect Ether to surpass Bitcoin, but it is unclear whether respondents place strong odds on this outcome.
