Ethereum might reach $20,000 by 2025!
ETH has been gaining momentum. It started at $1,000 by the beginning of 2021 then reached an ATH of $4,196.63. Before losing steam then dropping down to its recent price at $2,400. Locking an average growth rate of 197.4% in 2021.
The enormous run gave a lot of popularity to the coin. Ethereum now ranks as the second most popular coin after Bitcoin.
With a lot of support for the coin, investors in the coin were very bullish on it. A lot of analysts speculate that Ethereum is aimed to overtake Bitcoin as the most popular coin in the market. A lot of technological advancements are now being carried out on the blockchain that its use case is endless.
DeFi and NFTs’ Impact on Ethereum
The ever growing popularity of decentralized finance and NFTs helped push the popularity of Ethereum. Allowing it to have more use cases that benefits the investors of the coin.
Around 70% of the panel have agreed that with DeFi and NFTs, Ethereum now has even more use cases than Bitcoin.
A senior lecturer at the University of Canberra, John Hawkins went against the norm to claim that more use cases won’t necessarily benefit the coin. He elaborated on this by saying that Ethereum will get dragged down with Bitcoin. In spite of having more use cases.
With staking and yield farming with DeFi, investors have found a different way to put their investments to work. Meanwhile benefitting the network at the same time.
With ETH 2.0 on its way, developers are looking to replace the recent Ethereum blockchain with a new one. This could help solve the current bottlenecks of the network. It could also increase the number of transactions that were being made on the network. It might help reduce the exorbitant fees being charged for transactions when the network traffic is high.
CEO Vishal Shah was on the more safe side. He has predicted that the coin won’t be worth much more than it is now. Putting it at around $4,000 by 2025. He believes that Ethereum will still perform. The unlimited supply of the coin is a penalty to it. He continued that Ethereum was in a race with other protocols for its usability profile. Also, there are other faster and cheaper chains that could battle the coin in the future.
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