Fundstrat Global Says ETH Could Surge Sevenfold To $10K

Fundstrat global says that Ethereum could surge sevenfold up to $10,500 in the next few years so let’s read more about it in the latest ETH news.

Strategist David Grider from Fundstrat Global says that the cryptocurrency could climb more than sevenfold above $10,500 mainly because of the popularity of the ETH-based decentralized finance applications. ETH made progress towards a network upgrade that will allow it to process a similar number of transactions like Visa or Mastercard. Grider wrote while speaking that blockchain computing could be the future of the cloud and saying that ETH could be the best risk and reward investment play in crypto because risks usually include setbacks for the network upgrade or the crypto bear market.

Decentralized finance allows people to lend or borrow funds without the need for a traditional intermediary like banks and many Defi applications run on the ETH blockchain. Ether increased about five times the last year compared with the quadrupling price of BTC and ethereum could increase even more. Other proponents believe that digital coins are maturing as an asset class while the detractors say they remain prone to more volatility.

Also as reported moments ago, The ETH price traded in a strong uptrend and climbed above the $1850 region against the US dollar with the price trading above $1750 and its simple moving average. There’s also a major bullish trend line that is forming with the support at $1800 on the 4-hour charts of the pair. The pair could continue higher in the next few sessions.

Also, ETH 2.0 is the next generation of the ETH blockchain and the amount of securing it has just surpassed 3 million according to the data from Glassnode. ETH 2.0 is the next generation of the ETH blockchain which will make the entire thing cheaper and move eco-friendly.  One of the biggest changes involves moving away from the proof of work consensus mechanism which relies on the miners to process transactions. As ETH 2.0 gets more secure, you can start staking funds in the beacon chain which launched in December 2020. The Beacon Chain doesn’t do a whole lot and it’s just the sign in the very long roadmap of ETH 2.0 that will likely take years to implement. When ETH 2.0 is up and running, it could save the industry’s problems.