Ether’s current Proof-of-Stake upgrade coupled with its DeFi potential and new all-time high may cause the price of ETH to surge above $10,000, according to one Fundstrat Global Advisors researcher.
After reaching a new all-time high, the Ethereum price may head to $10,500, according to a strategist at the major market research company. David Grider commented on the surge in the price of Ethereum to reach new all-time highs of around $1440 in an investor note on January 19, Bloomberg reports.
Grider believes that the second-biggest crypto may climb over 700% to reach $10,500 after setting a new record high. The strategist allegedly stated that Ether is now the best and highly risk/reward investment play in the cryptocurrency market. He insisted that the Ethereum blockchain is the largest foundation for decentralized finance (DeFi) applications. Grider added:
“Blockchain computing may be the future of the cloud.”
As Ethereum has been moving on with its Proof-of-Stake (PoS) upgrade, its network can scale considerably, and process transactions at a level that is similar to Visa and Mastercard.
The most recent Ether prediction comes as ETH finally recorded a new all-time high on January 19, 2021, almost 10days after Bitcoin recorded its all-time high of $42,000 on January 8. Despite Bitcoin outpacing Ether to become the first crypto to post a new all-time high after the 2017 crypto rally, bitcoin is less popular with regards to daily transactions so far.
According to Messari’s January data, the Ethereum network now has up to 28% more transactions daily compared to Bitcoin.
At the time of writing, ETH is trading at $1,290 which is 9% down in the last 24 hours. In the last 30 days, the altcoin has gained over 100% to reach the current levels.