Ethereum expected to strike the mark of $10,500

The progress status of Ethereum
  • Ether, the second-largest cryptocurrency in the crypto-asset market, has just accomplished a record this week
  • The Fundstrat Global Advisors LLC’s strategist David Grider predicted that it could quickly surge more than sevenfold from its current value to $10,500
  • Ethereum development towards network upgrade would ensure that it processes a certain number of transactions giving a tough competition to Mastercard Inc. and Visa Inc. 

Ether is currently the second-largest cryptocurrency in the crypto-asset market. It has just accomplished a record this week. The Fundstrat Global Advisors LLC predicted that it could easily climb more than sevenfold to the value of $10,500.

Fundstrat Global Advisors’ prediction

Fundstrat Global Advisors represents an autonomous research boutique that serves a broad assemblage of clients. The clients’ respective range includes institutional investors, pension funds, high net worth individuals, and wealth advisors.

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Strategist David Grider predicted, as mentioned earlier, according to a report by Bloomberg. It is based in part on the acclaim of the related Ethereum blockchain. The latter is famous for the so-called decentralised finance applications.

The progress status of Ethereum

Ethereum has also developed towards a network enhancement. This would ensure that it processes a certain number of transactions giving a tough competition to Mastercard and Visa. 

David Grider wrote a note on Tuesday about Ethereum. He proclaimed that Ether allows the most okay game of risk/reward investment in the crypto-asset market. He added that blockchain computing would undoubtedly rule the future of the cloud. The potential risks could then include complications for the network upgrade or a crypto bear market.

Decentralised finance, or DeFi, facilitates people to get into lending or borrowing of funds without the requirement of conventional intermediaries such as banks. Most of the DeFi applications are processed on the Ethereum blockchain.

Amid a disuniting crypto boom, Ether advanced more than fivefold last year compared to the accumulation in the cost of Bitcoin. Advocates believe that digital assets are maturing as an asset category. On the other hand, detectors claim that they are susceptible to unpredictable speculation and major unsettlement.

Ether was down from a record high of about US$1,440 on Tuesday.. Its current trade value is at about US$1,357 in London.

It will be interesting to see if the prediction turns true and whether Ethereum will prove its potential. Alongside, the readers will have to wait to see how the crypto market and its institutional investors respond to this respective prediction.

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Andrew Smith
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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