Strategist David Grider from market research and consulting firm Fundstrat Global Advisors said that Ethereum, which ranks second after Bitcoin with its market value, has a good chance of reaching the $ 10,500 price level.
According to Bloomberg, the strategist released a note on Jan.19 emphasizing that blockchain technology could be the future of the ‘cloud’ and that ETH is the best risk / reward investment game in the cryptocurrency market.
Grider’s price expectation is partly based on the popularity level of Ethereum-based financial applications, or DeFi. In addition, as it is known, the network is getting closer to the completion of the transition to Ethereum 2.0, which will make it possible to reach and even exceed the transaction capacity of Visa and Mastercard.
ETH has increased over 90 percent from $ 780 to $ 1400 in the past three weeks. The price broke the all-time record at $ 1440 the day before.
Fundstrat Global Advisors has set a target of $ 10,500 for ETH, while crypto derivatives exchange Deribit has begun to list the ETH option contract with a strike price of $ 20,000 and a maturity of December 2021.