Opinion

Will Ethereum touch $10,000: Price prediction 2021

Snapshot

-Ethereum’s New upgrade

-Is Ethereum a Good Investment in 2021

-The main drivers behind Ethereum 


 

Ethereum, the second-largest cryptocurrency protocol by market capitalization is again making it to the headlines. And this time it is all about whether Ethereum will make it $10k. Ethereum is one of the most popular blockchain protocols and is in high demand given its smart contract feature as well as the utilities of its ERC standards. Decentralized applications (DApps) and decentralized finance (DeFi) have a lot of use cases for Ethereum where different blockchain-based technologies are being built on the backbone of Ethereum. 

All the amazing features that Ethereum has to offer along with the new updates such as the London hard Fork has been helping Ethereum expand its horizon. All these things have helped Ethereum reach new heights in terms of prices. It reached a new ATH of $4366 this October. However, in this blog, we shall discuss if there are chances of Ethereum going beyond this ATH and creating a new ATH for itself. Let us understand if Ethereum will reach $10,000. 

The experts believe Ethereum (ETH) and Bitcoin (BTC) will have a market capitalization of a combined $4.5 trillion by the end of 2021, controlling 25% of the cryptocurrency industry in the process.

Ethereum’s New Upgrade

Ethereum’s New upgrade the London Hard Fork upgrade has introduced EIP-1559 and the primary function of this upgrade is to limit the current supply of Ethereum’s native token, Ether by overhauling the way transactions work. 

In this process, Ether coins will be destroyed when a base transaction fee is sent to the network. Destroying coins will ultimately create a situation where there will be a fall in supply.

Such news has been well-received across the investment world as several experts believe Bitcoin is more valued than other altcoins because it is relatively scarce.

The Sales Manager at Equos, a cryptocurrency Exchange told media channels that the proposed changes in the Ethereum network will not only make transactions efficient but also make blockchain more eco-friendly. This will make Ethereum more scalable. 

A fall in the supply of precious crypto assets normally leads to a spike in price since consumers would be willing to pay for a coin at the price the holder is willing to sell the crypto asset for.

Wondering if Bitcoin will touch $100,000? We have got the answer. 

Is Ethereum a Good Investment in 2021

Ethereum is a blockchain network that has its focus primarily on running the programming code of any decentralized application. In simple words, it’s a platform via which information can be shared across the globe without any manipulation. 

The main utility of Ethereum today is the value exchange. This is often put to practice through the native token of the blockchain, Ether (ETH). This cryptocurrency is of interest to many developers due to its long-term potential and ambitious vision. Ethereum gives more control to users of their online data and finances. Although it has faced its fair share of criticism, it has the potential of becoming the next revolution in technology. 

Ethereum is a good investment in 2021 according to Blocktown Capital founder James Todaro. He sees the asset more than doubling in the future. He also made a statement in the media saying that Ethereum will be worth $9000 in the near future. Ethereum’s price has rallied in the last few months and will continue to soar in the coming months. Prices of assets like stocks and commodities thrive on the laws of demand and supply. As more people are educated on the financial possibilities of blockchain and crypto, more investments will go into Decentralized Finance which will increase the price of Ethereum.

The main drivers behind Ethereum’s Price

The three main reasons behind the hike in Ethereum’s prices are robust development team, acceptance among the corporates, and the first-mover advantage. All these factors have played a great role in helping Ethereum build its price. 

Ethereum (ETH) unlike most altcoins which have struggled for acceptance has used its blockchain technology to gain acceptance from well-established corporations in the mainstream. 

Swift scalability solution has attracted the undivided attention of major corporations such as Overstock. The supply chain and retail giant accepts the novel token of Ethereum, Ether (ETH) as an option of payment when customers are checking out. 

Here are the top 5 institutions bullish on Ethereum. 

Summing it Up! 

There are many fortune 500 companies that are backing Ethereum. Amazon, Intel, Google, Microsoft, Samsung, BNP Paribas, and Siemens among others have backed Ethereum’s blockchain in many ways through the decentralized applications (DAPPS) it supports and adopts for its business operations.

After the upgrade from Ethereum 1.0 to Ethereum 2.0 the problem of scalability has been resolved. Ethereum trades on all the major cryptocurrency exchanges such as Binance, Coinbase, Kraken, OKEX, Storm Gain, CoinDCX, and Huobi. All this shows that Ethereum is a secured and trustable crypto platform. Whether it will reach $10,000 in 2021 is still a question unanswered. however, we definitely know that $10,000 is not far away from Ethereum given its tremendous growth. 

Stay updated with the latest cryptocurrency news around the global community with CoinDCX. Start your blockchain and cryptocurrency learning with DCXLearn, India’s simplest and complete cryptocurrency course. Start your investment journey with CoinDCX, India’s simplest and safest investment app. 

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