Ethereum May Skyrocket to $10,500, Fundstrat Global Strategist Expects

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Wed, 01/20/2021 - 12:48
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Yuri Molchan
Strategist from Fundstrat Global believes that the second biggest crypto can easily reach the $10,500 level after hitting a new all-time high on Tuesday
Ethereum May Skyrocket to $10,500, Fundstrat Global Strategist Expects
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David Grider, a strategist from Fundstrat Global Advisors and colleague of Charlie Lee, believes that the second largest cryptocurrency, Ethereum, has good chances to reach the $10,500 level, according to Bloomberg.

DeFi can push ETH to $10,500

Grider's expectation is partly based on the high level of popularity of Ethereum-based financial apps, or DeFi.

Besides, the network is now one step closer to implementing its long-expected update Ethereum 2.0, which is expected to enable it to process the same gigantic amount of transactions that Visa and Mastercard process for their customers.

On Jan. 19, the strategist published a note saying that Ethereum-based DLT computing may be the future of the cloud and that ETH is the "best risk/reward investment play in crypto."

Related
Ethereum Shows 91% Rise Year-to-Date After Surging to New All-Time High: Analyst

ETH surges to a new ATH above $1,400

This year, ETH has demonstrated a 91 percent rise YTD from the $780 area up to $1,400; on Jan. 19, Ethereum surged above the all-time high achieved in early January 2018 and hit a new ATH at $1,439.

ETH

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.