The world’s expectations from cryptocurrencies continue to soar higher as the digital assets itself continue to reach ATH. The expectations and predictions will continue to come in as the overall market capacity continues to grow. Many investors have now turned to the assets as a source of profit. Analysts have predicted the growing market to grow three times bigger than it did last year.
Ethereum, the second most valuable cryptocurrency behind Bitcoin, has continued to make waves in a year, which analysts have predicted the altcoin will show forth its strength to rival the reign of Bitcoin. Business strategists and analysts have now predicted the leading altcoin to hit the $10,000 mark this year.
Ethereum may hit $10k by the end of 2021
In the recent meeting held by Fundstrat Global, a financial investment firm based in the U.S, the organization’s strategic consultants discussed Ethereum and predicted alongside analysts that the cryptocurrency would gain by at least 750% this year. The investment firm’s Head of Digital Assets, David Grider, believes that the DeFi space’s growth will have a lasting effect on Ethereum prices since the DeFi relies solely on the Ethereum network.
According to David, the relationship between Ethereum and DeFi will help sustain both spaces and propel them to success in the nearest future. David’s statements have coincided with the analyst who predicted that the DeFi space would exceed $25 billion in the current amount of its TVL as of January 15, 2021.
The recent innovations in the space are alarming and mouthwatering, as it tends to cater to the impending boom the space is set to witness. In David’s statement, he believes this time is Ethereum’s time, and the network should make the most of the attention it is currently getting to position itself up there with Bitcoin.
Ethereum 2.0 will bring more success
The investment strategist has echoed the words of analysts who believe the launch of the new Ethereum 2.0 network will eventually drive prices to all-time highs. The eth2 network, which launched its first phase on December 1, 2020, is set to launch other network stages before the end of the first quarter of the year.
The whole idea behind the new network is to improve the stability, sustainability, speed, and overall performance of the Ethereum Blockchain. The second-largest cryptocurrency by Market Cap must now turn its focus to maximizing the potentials of its new network, which since its launch have boosted prices by at least 90%. The strategist and analyst’s expectations who want Ethereum to trade at least $10,000 now solely rely on the booming performance of the DeFi space and the Ethereum 2.0 network.
However, with the current data available and in reality, it will take time for Ethereum to catch Bitcoin, except the performance of the leading cryptocurrency dwindles. The recent successes of Bitcoin do not suggest regression of the cryptocurrency. The good news is that Ethereum can pursue its success without worrying about Bitcoin.