10 Reasons Ethereum (ETH) Will Reach $10,000, according to Altcoin Buzz
In a recent video, Altcoin Buzz shares their optimistic view and 10 reasons for Ethereum (ETH) can justifiably support a $10,000 price tag per token.
“Bitcoin and Ethereum now especially is more a store of value than ever before so those are my kind of long-term holds”, the crypto strategist says.
He also cites a tweet saying that the recent ETH price rally comes with the surge in the spot trading volumes since mid-April.
Ether spot volumes have materially picked up since mid-April pic.twitter.com/3WqHlWdsl7
— skew (@skewdotcom) April 29, 2021
According to Altcoin Buzz, the top 10 reasons why Ethereum holds the potential to hit $10,000 by the end of 2021 includes:
- There’s a massive demand currently for the ETH block space as the Ethereum blockchain overshadows its peers with the average daily fee paid around $18 billion.
- As of date, the Ethereum blockchain network settles $30.5 billion of value every day which is twice that of the Bitcoin blockchain network.
- The daily active addresses for Ethereum are on a continuous rise and have reached a new all-time high above 625K in recent times.
- Ethereum is slowly emerging as an institutional-grade technology with the explosive growth of the DeFi activity this year. Of the total $67.89 billion locked in DeFi, a majority of the DeFi projects are on Ethereum.
- The monthly Ethereum-based DEX volume has surged 60x over the last year moving past $60 billion.
- Due to strong ETH liquidity, synthetic cryptocurrencies including Bitcoin are represented on the Ethereum blockchain. The supply of synthetic Bitcoins on the Ethereum blockchain has crossed $200K.
- NFT sales on Ethereum have been skyrocketing and have recently surpassed $600 million.
- Ethereum-based Polygon network currently processes $1 million in daily transactions. It has also onboarded some of the biggest DeFi projects like Aave.
- The Ethereum blockchain network currently has more than $50 billion in outstanding stablecoin supply.
- The Ethereum blockchain is all headed for an EIP-1559 upgrade that will considerably reduce the issue of rising ETH gas fees for its users.
The crypto KOL also adds some strong supportive fundamentals and partnership that consolidates his bullish view:
“Don’t forget the integration plans that Visa has now publicly announced with the Ethereum blockchain. Another big reason that to me eclipses all that we just saw on this list is the fact that the OCC (The Office of the Comptroller of Currency) has basically paved the way thrown out a red carpet for us and said that American banks can now settle their transactions in stablecoins for interbank transfers”.
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