Analyst Say Ethereum Price will top $8k in 2021
Crypto Bull, a crypto analyst, now predicts the ETH price to reach $8k in 2021. It also comes when some influencers are convinced XRP will be delisted from several exchanges allowing ETH to flip the asset to second. Next year, developers will continue improving the smart contracting platform. Layer-2 solutions could also take a front seat even with the concurrent transitioning to Eth2. Coupled with the continuous staking and DeFi, more ETH coins have been removed from circulation, boosting bulls.
Analysts are confident ETH prices are undervalued at spot rates. With ETH/USD struggling below $700, a break above this mark will be the impetus that lifts the second most valuable currency to $1k and later $8k or better in 2021. Already, over $1 trillion of cumulative trading volumes have been transacted in Ethereum, eclipsing Bitcoin. It highlights just how on-demand Ethereum is as a utility dominating stablecoins and establishing itself as the home of DeFi despite scalability challenges and high Gas fees.
Impact on the ETH Price:
Bullish. The more analysts call for the moon, the more retail investors invest. Analysts' comment emboldens their position. With clarity from most regulators, ETH as a coin could attract capital in 2021.
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