Fundstrat Global Advisors strategist David Grider predicts the price of ethereum could rally to $ 10,500 per unit after the cryptocurrency set a new all-time high on Tuesday. The estimate suggests nearly 700% upside at the current ether price hanging above 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 finance applications (defi), most of which are built on the Ethereum blockchain, and has seen huge growth in 2020.
He also prefaced his prediction on the recent upgrade to the Ethereum network, which targets becoming a blockchain for an entire financial system. When fully completed, he says, the three-part upgrade would allow the blockchain to process the same number of transactions as those made by the likes of Mastercard Inc. and Visa Inc.
Ether was quoted as playing the best risk investing / reward investment in crypto, ”adding that“ blockchain computing could be the future of the cloud. “Risks may include delays in upgrading the network or entering the crypto market bearish,”
Ethereum shot 12% to its highest level of nearly $ 1,440 on Tuesday, amid growing buying pressure.
Meanwhile, Luis Cuende, cofounder of the devolved autonomous organization (DAO) Aragon, said: “In thinking about what the Web 3.0 vision provides, institutional investors will recognize that while sovereign digital currency (BTC) is central, there is the importance of a programmable economy. (ETH) should not be underestimated. ”
He added: “ETH’s fundamentals are as solid as ever. Ethereum has actually found the product market early, and the protocol is making revenue. ETH definitely matures as an asset. ”
Cuende sees ether bouncing between $ 2,500 and $ 7,500. It also believes that competitors Ethereum Polkadot, Cosmos, and NEAR are “well-positioned to capture meaningful market share” until ETH 2.0 is complete.
What do you think of Fundstrat Global’s price prediction on ether? Let us know in the comments section below.
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