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Fundstrat Global Advisors strategist David Grider predicts the price of ethereum could reach $ 10,500 per unit after the cryptocurrency hit a new all-time high on Tuesday. The estimate implies a nearly 700% rise on the current price of ether 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 (challenge) applications, the majority of which are built on the Ethereum blockchain, and saw 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. When fully completed, he said, the three-part upgrade would allow the blockchain to process the same number of transactions as those made by Mastercard Inc. and Visa Inc.
“Ether is the best risk / reward investment game in crypto,” Grider said, adding that “blockchain computing could be the future of the cloud.” Risks can include delays in upgrading the network or the downturn in the crypto market, the report says.
Ethereum climbed 12% to a record high of nearly $ 1,440 on Tuesday, amid increased buying pressure.
Meanwhile, Luis Cuende, co-founder of the Decentralized Autonomous Organization (DAO) Aragon, commented, “Reflecting on what the Web 3.0 vision offers, institutional investors will recognize that while sovereign digital currency (BTC) is central, the importance of a programmable economy (ETH) should not be underestimated. “
He added: “ETH fundamentals are stronger than ever. Ethereum actually found an early fit between the products and the market, and the protocol is generating revenue. ETH is definitely becoming an asset. “
Cuende sees the ether rebound between $ 2,500 and $ 7,500. He also believes that Ethereum’s rivals Polkadot, Cosmos and NEAR “are well positioned to capture significant market share” until ETH 2.0 is completed.
What do you think of the Fundstrat Global ether price prediction? Let us know in the comments section below.
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