Fundstrat Global Advisors strategist David Grider predicts that the price of ethereum could rise to $ 10,500 per unit after the cryptocurrency reached a new record high on Tuesday. The estimate implies that the current ethereal price is almost 700% higher than the $ 1,300 range.
According to Grider, ether (ETH) – the second largest digital asset after bitcoin (BTC) – will continue to benefit from its relationship with decentralized financing (defi) applications, most of which are built on the Ethereum blockchain, and that they saw massively. growth in 2020.
He also based his prediction on the recent upgrade of the Ethereum network, which aims to become a blockchain for an entire financial system. Upon completion, he said, the three-part upgrade will enable the blockchain to process the same number of transactions as those provided by Mastercard Inc. and Visa Inc.
“Ether is the best risk / reward investment in crypto,” Grider is quoted as saying, “blockchain computing could be the future of the cloud.” Risks could include delays with the network upgrade or the cryptocurrency becoming clumsy, the report said.
Ethereum hit a record high of nearly $ 1,440 on Tuesday with 12% amid rising buying pressure.
Meanwhile, Luis Cuende, co-founder of the decentralized autonomous organization (DAO) Aragon, said: “When they think about what the Web 3.0 vision offers, institutional investors will realize that while sovereign digital currencies (BTC) are central, of a programmable economy is important. (ETH) should not be underestimated. ”
He added: “ETH principles are as robust as ever. Ethereum has just found that the product is suitable for the market, and the protocol provides revenue. ETH definitely expires as an asset. ”
Cuende sees ether bounce back between $ 2,500 and $ 7,500. He also believes that Ethereum competitors Polkadot, Cosmos and NEAR are “well positioned to gain significant market share” until ETH 2.0 is completed.
What do you think of the Fundstrat Global price forecast on ether? Let us know in the comments below.
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