Connect with us

Ethereum

Ethereum Expected to Break $5,000 and Hit Fresh All-time Highs: deVere CEO

Published

on

Ethereum - Investors King

The Ethereum price is likely to hit $5,000 over the next seven days as the cryptocurrency reaches new all-time highs, predicts the CEO of one of the world’s largest financial advisory and fintech organisations.

The bullish prediction from Nigel Green, chief executive and founder of deVere Group, comes as Ether, the token transacted on the Ethereum blockchain, and the world’s second largest cryptocurrency after Bitcoin smashed past $3,000 on Monday for the first time.

Mr Green says: “Ether is up more than 300% for the year so far, which is far greater than the 95% jump in the headline-grabbing Bitcoin.

“Ether is one of the main beneficiaries in the wider explosion in the cryptocurrency market. The boom over recent months has been fuelled by soaring interest from major institutional investors and growing recognition that borderless digital currencies are the future of money.

“This momentum is likely to build further in the near-term and I believe Ether will hit $5,000 within seven days.”

Besides benefitting from the broadening acceptance of cryptocurrencies, the deVere CEO says that Ether is currently “brilliantly positioned” to dramatically increase its market share.

He explains: “We’re about to see the global shift towards DeFi, or decentralised finance, move up several gears. DeFi relates to transactions outside traditional systems and for which the Ethereum blockchain is an integral part.

“In addition, there’s a growing trend for NFTs (non-fungible tokens), especially digital art, which are typically bought and sold in Ether.”

Last month, Christie’s, the auction house, sold “Everydays – The First 5000 Days,” a digital artwork in JPEG form by an artist known as Beeple, for $69.3 million – which is the third most expensive artwork ever sold by a living artist.

Mr Green says: “Ether can be expected to significantly dent Bitcoin’s market dominance over the next year and beyond.

“Compared to its bigger rival, Ethereum is more scalable, offers more uses and solutions, such as smart contracts which are already used across many sectors, and is backed with superior blockchain technology.”

He concludes: “Ethereum is already years ahead of Bitcoin in everything but price and fame.  There’s a real sense that 2021 is the year for Ether. Its time has come.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Ethereum

Ethereum Adds Over 38 Million New Addresses in 2021, 22% of All Ever Created

Published

on

Ethereum - Investors King

The Ethereum network has recorded a surge in popularity, with more investors aiming to own part of the second-ranked cryptocurrency. The interest is highlighted by the number of unique new addresses created in 2021 alone.

Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that an average of 149,843 new unique Ethereum addresses has been created daily in 2021 on a year-to-date basis. The highest number of new addresses was created on June 5th at 332,094. So far, in September, a total of 1,389,999 new unique addresses have been created.

Elsewhere, by September 2021, 38,256,193 new Ethereum addresses were created in 2021, accounting for 22.59% of all ETH addresses ever created to date. In general, the cumulative number of Ethereum addresses to be created since inception stands at 169,296,775.

Impact of Ethereum network upgrades on new addresses

Currently, the Ethereum network is undergoing upgrades geared towards transitioning from the proof-of-work protocol to the proof-of-stake system that is energy efficient.

The upgrades play a key role in determining the number of new Ethereum addresses created, and the report takes note of this factor. According to the research report:

“The drop in new addresses comes at a point the Ethereum network upgrade is expected to create a deflation over time as it modifies the auction process. Furthermore, with Ethereum transitioning to the proof-of-stake protocol, the network will likely experience an influx of new users who want to cash in on the staking.”

The new address follows the recent cryptocurrency bull market that saw Ethereum surge in value to a new all-time high price. However, the addresses have plunged in correlation with the general crypto market.

Continue Reading

Ethereum

Ethereum to Exceed Bitcoin’s Value Within Five Years: deVere CEO

Published

on

Ethereum - Investors King
Ethereum will continue to outperform Bitcoin in 2021 and will, ultimately, exceed its rival’s value, predicts the CEO of one of the world’s largest independent financial advisory, asset manager and fintech organisations.
The prediction from Nigel Green, chief executive and founder of deVere Group which launched the pioneering app deVere Crypto in 2018, comes after a mixed few days for Bitcoin, currently the world’s largest cryptocurrency by market capitalisation.
Mr Green comments: “Ethereum (ETH) is outperforming Bitcoin (BTC) and it can be expected to continue this trend for the rest of 2021.
“Ether is up around 240% this year, while Bitcoin is up less than 38%. In fact, it has outperformed all other benchmark assets in the first half of this year.”
The deVere boss attributes two key factors that are driving Ethereum’s outperformance run.
“First, Ether has a higher level of real-use potential as Ethereum, the platform on which it is the native cryptocurrency, is the most in-demand development platform for smart contracts, thereby highlighting that network’s value not only as a platform for developers but as a worldwide financial utility,” he says.
“Second, investor enthusiasm for the game-changing transition to ETH 2.0, which makes the Ethereum network considerably more scalable, sustainable and secure. These upgrades represent a major boost not just for Ethereum but for blockchain technology itself.”
He continues: “Ethereum is more useful than Bitcoin and has tech advantages over its better-known rival.
“Ultimately, this will mean that its value will exceed that of Bitcoin – probably within five years.
“That said, I remain confident that Bitcoin will hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021.”
The deVere boss is one of the highest-profile, longest-standing crypto bulls.  Last month he was quoted in the media as saying “crypto is the inevitable future.”
The bold predictions followed a live virtual event at which Tesla and Space X founder Elon Musk, Twitter founder Jack Dorsey, and Ark Investment’s Cathie Wood all advocated for the digital assets and talked about their massive future potential.
Nigel Green concludes: “There will be peaks and troughs along the way of course, but Ethereum’s ascent to the top of the cryptoverse seems unstoppable.”

Continue Reading

Ethereum

A $1,000 Investment in Ethereum Five Years Ago Would Be Worth $195,000 Today

Published

on

Ethereum - Investors King

The increasing number of investors continues choosing digital coins as an investment asset. Some of them invested in cryptos much earlier and watched their investments grow over time, despite the turbulences the crypto space witnessed throughout the years. As the world’s second-largest crypto coin by market cap, Ethereum proved an excellent investment choice with an impressive five-year return rate.

According to data presented by BlockArabia, a $1,000 investment in Ethereum five years ago would be worth nearly $195,000 today, bringing a whopping 19,400% gain.

Ethereum’s Price Soared 195 Times Since July 2016

As the world’s second-largest cryptocurrency after Bitcoin, Ethereum was released on July 30, 2015, and priced at $0.75. By the end of July next year, its price surged by 1,500%, already making him a successful investment.

Assuming an investor bought $1,000 worth of ETH on July 20, 2016, they would have picked up 83 coins priced at around $12. Three years later, in January 2018, Ethereum’s price soared to $1,396, turning that $1,000 investment into $115,800.

After a deep price fall in the following months and throughout 2019, ETH price recovered in 2020, as the entire crypto market boomed amid the COVID-19 crisis. Between January and December 2020, ETH price surged by 411%, rising from $144 to $737.

However, after an outstanding performance throughout the last year, Ethereum’s price exploded in 2021. Between January and March, it soared by nearly 150% to over $1,800 and continued rising. On May 12, it hit an all-time high of $4,297, turning that $1,000 investment into $356,650.

Although ETH’s price dropped significantly over the last two months, reaching $2,347 this week, that is still 195 more than its price from July 2016.

Ethereum Market Cap Surged by 233% YTD, 7x Bigger Increase than Bitcoin

Since the start of the cryptocurrency phenomenon, Ethereum and Bitcoin have been the most digital coins in the crypto space. However, unlike Bitcoin, Ethereum’s market cap soared in 2021, despite the recent crypto price crash.

After an outstanding performance throughout the last year, Ethereum’s market cap surged by more than 400% in the five months of 2021, rising from around $84bn in January to $442bn in May.

After the crypto price crash, Ethereum’s market cap almost halved in just three weeks, falling to $222bn in the third week of May.

The CoinMarket cap data this figure rose to $274.5bn this week. Although significantly lower than an all-time high from May, this still represents an impressive 233% increase YTD, which is seven times more the growth rate of Bitcoin.

Statistics also show ETH was the third most-traded crypto in the last 30 days, with a monthly trading volume of $517.8bn.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending