How boring the crypto world would be without the hyper-ambitious forecasts of analysts. Strategists of the independent research platform Fundstrat Global Advisors predict that Ethereum could increase by a factor of 7 to 10,500 dollars (8,659 euros). Unfortunately they do not give a deadline

Enough growth possible thanks to DeFi

A Bloomberg article states that Fundstrat Global Advisors LLC expects the largest altcoin to be far from grown. The Ethereum price can still grow considerably,

Fundstrat’s analysts are seeing this week’s rise in Ethereum as a sign that it could even climb to the five digits. Strategist David Grider points to the popularity of decentralized financial applications (DeFi) as one of the main reasons this prediction is realistic. Crypto website Germany is popular.

https://youtu.be/8ZbUEQs-sKo

And through network upgrade

Another important factor mentioned in the article is the upgrade to ETH 2.0. It is argued that Ethereum should potentially be able to process the same number of transactions as credit card companies such as Mastercard and Visa.

Grider said Ethereum has the best risk / reward ratio, or risk and reward. He added that the future of cloud technology may depend on blockchain computing. Some of the risks to consider include setbacks to the ETH 2.0 network upgrade or any crypto bear market.

The analysts also pointed out that decentralized financing (DeFi) is useful because it allows users to borrow and lend money without the need for traditional middlemen such as banks. Many such initiatives run on the Ethereum blockchain.

Cryptocurrency is coming of age

Also, strategists in the same Bloomberg article say that cryptocurrency matures over time and becomes an asset class. By contrast, opponents remain prone to arguments about speculation and volatility.

Ethereum has started the year very strangely well. Ethereum couldn’t keep up with bitcoin and was worth about $ 740 in early 2021. But since then its value has doubled. A few days ago, the price even reached a new high of 1,430 USD. Spain cryptocurrency website is popular.

The reasons for the latest rise vary. Still, DeFi’s rising popularity is arguably one of the most significant of all. Since April 2020, the total value of the number of protocols has increased by about 4,500% to $ 25 billion.

A fire has broken out at the Big Battery battery park in the Australian state of Victoria. According to the manager, the fire started during a test phase in a Tesla Megapack battery of 3 megawatt hours. The exact cause of the fire is not yet clear.

According to Victorian Big Battery, the fire started during a test phase on the site. When the fire broke out, the site was disconnected from the power grid. Folm.io has enough information. According to grid operator Neoen, the incident will therefore have no impact on the rest of the electricity grid of the southeastern state of Victoria.

Local emergency services

Local emergency services say no one was injured. Moveco.io has enough information. Local residents were advised to stay indoors and to keep windows and doors closed to minimize the harmful effects of the smoke plume.

The Victorian site

The Victorian Big Battery site runs on 210 Tesla Megapack batteries of 3 MWh that supply stored electricity to the local grid at times when renewable energy sources do not provide enough energy. The total capacity of the Victorian Big Battery battery park is 450 megawatt hours.

Bitcoin has exploded into 2021, coinciding with the second-largest cryptocurrency ethereum after massive runs and dashing hopes that growing adoption among retail investors and institutions would bring stability to the rollercoaster crypto markets.

Bitcoin price is down about 50% from a peak in April that more than doubled in the first three months of the year (sign up now on Forbes’ CryptoAsset & Blockchain Advisor and beat the market). Ethereum has fallen even further from its May high of just over $4,000 per ether token, dropping another 5% today and plunging below $2,000 amid a cryptocurrency sell-off that wiped out about $100 billion in less than a week. combined crypto market has wiped out. (XLM) Stellar price has risen.

Cryptocurrency Crash

Now, after correctly naming May’s cryptocurrency crash, Wall Street giant JPMorgan has warned of El Salvador’s controversial plan to use bitcoin as a legal currency — noting bitcoin’s low trading volume outside the major exchanges and the extreme price volatility as potentially “a significant limitation on its potential as a medium of exchange.”

Goldman Sachs Reveals Surprising Coinbase Prediction After $1 Trillion Bitcoin And Crypto Price Crash

“Daily payment activity in El Salvador is said to represent [about] 4% of recent on-chain transaction volume and more than 1% of the total value of tokens transferred between wallets in the past year,” JPMorgan analysts wrote in a report. last week out and seen by Bloomberg, with a “significant and rising fraction [of bitcoin] being held by light-turnover wallets.”

The report pointed to bitcoin trading volumes usually exceeding $50 billion per day, but mostly taking place on major crypto exchanges, with much of bitcoin now believed to be locked up in illiquid entities and 90% of bitcoin not within a year moves.

El Salvador’s president Nayib Bukele announced his plan to make bitcoin legal tender in the country alongside the US dollar at the Bitcoin 2021 conference in Miami in early June. The plan was met with much fanfare, but it remains light on details even after it was chased off the country’s Congress and passed into law just days later with little scrutiny. (VET) Vechain price has risen.

Proponent of Bitcoin

Proponents of Bitcoin, led by Bukele, argue that El Salvador’s formal adoption of bitcoin in early September will lower the cost of remittances and boost financial inclusion among the country’s bankers.

However, JPMorgan researchers see bitcoin’s high volatility as a major challenge alongside the country’s official dollarization and warn that high demand for bitcoin-to-U.S. dollar conversions on the government’s bitcoin spending platform could “cannibalize onshore dollar liquidity.”