A widely followed crypto strategist believes that one under-the-radar Ethereum (ETH<\/a>) scaling solution is on track to more than double in price.<\/p>\n Pseudonymous crypto strategist Pentoshi tells<\/a> his 727,200 followers on the social media platform X that layer-2 rollup platform Metis (METIS<\/a>) could be setting up to soar more than 141% from its current value.<\/p>\n \u201cMETIS: if given, $48-$56 a good entry imo (in my opinion). <\/em><\/p>\n I\u2019m in from lower fwiw (for what it\u2019s worth). Narrative heating up for Q1 with a lot of good upcoming fundamentals.\u201d<\/em><\/p>\n Looking at the trader\u2019s chart, he suggests that METIS could ride upward momentum to the next major supply area near $175.<\/p>\n METIS is trading for $72.41 at time of writing, up 25.4% in the last 24 hours.<\/p>\n Pentoshi also previously predicted<\/a> that ETH could soar by more than 50% from its current value in 2024 due to one catalyst.<\/p>\n He believes if spot market Bitcoin (BTC<\/a>) traded funds (ETFs) are approved then the approval of spot Ethereum exchange-traded funds (ETFs) could soon follow. Asset management firms including BlackRock, Fidelity and Hashdex have filed applications for spot-based Ethereum ETFs with the U.S. Securities and Exchange Commission (SEC).<\/p>\n Pentoshi believes the focus could soon shift to the possibility of ETH ETFs and spark bullish momentum, sending ETH past the $3,400 level as investors anticipate the event.<\/p>\n Ethereum is trading for $2,206 at time of writing, down 3.2% in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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