Strategist David Grider at Fundstrat Global Advisors sees Ethereum as “the best risk/reward investment game in the crypto world”
Fundstrat Global Advisors analyst David Grider said the calculations put the world’s second-largest ethereum currency (ETH) as a possible strategy to $10,500.
What happened: Grider sees Ethereum as “the best risk/reward investment game in the crypto world,” according to Bloomberg.
Ethereum is the largest blockchain platform and has gained fame for smart contract applications. Much of the recent interest in cryptocurrencies has been driven by decentralized finance or DeFi applications.
In addition to the rise of DeFi applications, Ethereum could also benefit from an upgraded network that would allow it to process a similar number of transactions as Visa Inc.
or MasterCard Inc.
Opening price: 352.11 – 357.79
52 weeks: 305.61 – 400
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“Blockchain computing could be the future of cloud computing,” said Fundstrat strategists.
Why it matters: Ethereum has outperformed Bitcoin (BTC) so far in 2021, hitting an all-time high of $1,432.44 earlier this week.
Cryptocurrencies lead a range of smart contracts and DeFi-related digital assets that are making inroads recently, including Polkadot (DOT), Aave (AAVE), SushiSwap (SUSHI), Uniswap (UNI), and Curve Dao Token (CRV). ) .
Bitcoin was trading down 2.6% at $34,339.31 at press time.
Ethereum traded down 4.4% at $1,290.39. Grider’s price target is 714% above its current price.