Analysts predict explosive growth for Ethereum

According to analysts at Fundstrat Global Advisors, Ethereum, the second largest cryptocurrency by capitalization, may grow more than sevenfold to $10,500.

The strategist at Fundstrat Global Advisors David Grider predicts the seven-fold growth for Ethereum. According to him, the cryptocurrency may jump as high as $10,500. The forecast takes into account the level of demand for the Ethereum blockchain among developers of decentralized financial applications and successful progress in updating the network, which will lead to an increase in the volume of processed transactions.

Ethereum is the best way to invest in cryptocurrency, taking into account risk and reward, Greider wrote in a letter to investors. He added that blockchain computing is the future of the cloud. Risks include network upgrade failures or a cryptocurrency reversal scenario towards a bear market, he said.

Investor Spencer Noon also drew attention to Ethereum’s potential for growth, but was more restrained, without naming a specific price target. He pointed to 11 fundamental metrics that support a bullish scenario for Ethereum. The list of metrics includes such indicators as the volume of fees collected on the Ethereum network (the largest among cryptocurrencies), number of large ETH transactions, hash rate, number of active Ethereum addresses, number of DeFi service users, volume of the Ethereum 2.0 deposit contract, and others.

Noon notes that the number of large ETH transactions (over $100,000) is now seven times lower than at the 2018 highs. He supposes that it is a sign that whales and institutions have not yet entered the game.

On January 19, the Ethereum rate reached a new record level. The weighted average price of ETH reached $1440.

Via: 2Coinfox.info

Share on print
Print
Share on facebook
Share
Share on twitter
Tweet
Share on linkedin
Linkedin
Share on email
email

Leave a Replay