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Ethereum price forecast: How will the BBVA inclusion of ETH impact its value?

Ethereum ETH/USD has been the second-largest cryptocurrency in terms of capitalization for quite a while now. 

It is used as a foundation for many altcoins, decentralized applications (dApps) as well as decentralized finance (DeFi). 

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This level of utility and popularity is starting to show its potential, as Ethereum is getting adopted by a lot of industries.

The increased support for Ethereum as a catalyst for growth

On December 13, the Swiss Subsidiary of the largest banks in Spain, known as Banco Bilbao Vizcaya Argentaria (BBVA), has included Ethereum as a supported asset.

In accordance with an official announcement bade by the bank, it became the first among the traditional financial institutions within Europe to add the second-largest cryptocurrency in terms of market capitalization, Ethereum (ETH), to its line of products.

Their CEO, known as Alfonso Gomez, said that this move is dictated by the desire of investors to diversify their portfolios. 

Note that BBVA Switzerland’s crypto-asset service became operational for all customers last June and started initially with Bitcoin (BTC) as a cryptocurrency offering. It is a new digital asset custody service that has been well-received across private banking customers as well as new investors. 

Note that BBVA is offering this new service within Switzerland, with clear regulation as well as a high level of adoption of these digital assets.

This has the potential to boost the value of the Ethereum (ETH) token.

Should you invest in Ethereum (ETH)?

On December 14, Ethereum (ETH) had a value of $3,790.90.

To get a perspective as to what kind of value point this is for the token, we will go over its all-time high value as well as its performance last month.

The all-time high value of the Ethereum (ETH) token was recorded on November 10, when the token increased to a value of $4,878.26.

Here, we can see that at its all-time high value, the ETH token was $1,087.36 higher in value than on December 14.

Its lowest recorded point of the month was on November 18, when the token decreased to a value of $3,987.64.

Here we can see that from November 18 to December 14, the ETH cryptocurrency decreased in value by 196.74 or by 5%.

According to data from IntoTheBlock, ETH saw $70 billion in transactions greater than $100,000 within the last seven days.

Additionally, ETH saw $11.67 billion in total exchanges inflows as well as $12.01 billion in total exchanges outflows within the last seven days.

With the Banco Bilbao Vizcaya Argentaria (BBVA) addition, Ethereum has the potential to increase to $4,000 by the end of January 2022, making it a solid investment.

Where to buy right now

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