ETH/USD to Reach $10.5k Say Fundstrat Strategist
A Fundstrat Global Advisors LLC strategist, David Grider, predicts the ETH/USD to reach $10.5k, a day after the second most valuable digital asset rose to a new all-time high. According to the strategist, the increasing popularity of decentralized finance applications (DeFi) would be rocket fuel, thrusting the digital asset to a record high. In his assessment, he says, ETH offers the best risk/reward investment play in crypto—better than gold, further adding that blockchain computing, a solution offered by most distributed ledger technologies, will be the future of cloud.
The Ethereum price is trading at $1.3k, retracing after surging to a new all-time high above $1.4k. Behind the recent surge of ETH are positive developments. One of them is interest in DeFi, a movement that blasts open finance, democratizing finance, allowing trustless investment regardless of qualifications. All this is done digitally and without credit checks. The second is the transition of Ethereum to ETH 2, a new blockchain that will eventually integrate sharding and other scaling solutions, further enhancing DeFi and Ethereum as it drastically slashes transaction fees.
Impact on the ETH Price:
Bullish. David joins a long list of analysts who are overly confident of Ethereum in the medium term. In their view, ETH, at spot rates, is under-valued. The coin's upsides are due to its high level of utility and the network's creators' decisions to make the user experience seamless.
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