Ethereum could rise to $ 10,500, Fundstrat predicts

Ethereum could rise to $ 10,500, Fundstrat predicts

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.

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.