TL;DR Breakdown
• Cathie Wood indicates that Ethereum has a promising future ahead.
• Ark Invest executive director believes that ETH will reach new ATHs.
Even though the cryptocurrency market has had a rough couple of weeks, some industry experts believe that tokens like Ethereum will achieve a high price in the next years. The Ark Invest company CEO, Cathie Wood, indicates that ETH could hit a market capitalization over $20 billion by 2030.
The number two crypto in the market raises $314,299,239,877, with over a 16 percent rise in its price in the last week. Ether is breaking out of the downtrend after global regulators stopped attacking cryptocurrencies.
Ark Invest predicts the Ethereum capital rise
Ark Invest, a cryptocurrency management company, predicts that Ethereum capital will hit new all-time highs. The company’s CEO believes that Ether will be capitalized at about $20 billion.
Wood says that within a few years, Ether could be worth about $170k or even $180k. Based on the Ether price today, this would mean that its upside must exceed 7,000 percent.
The head of Ark Invest believes that while financial agencies explore the Blockchain, decentralized systems gain priority, which would increase the purchasing value of Ethereum. The Blockchain allows the creation of cryptocurrencies and non-fungible tokens. In this way, Ether differs from the leading cryptocurrency Bitcoin, which only works as a passive investment source.
Ether would reduce commission rates
Another reason that Wood believes that using Ethereum will increase in the coming years is because of the drop in its gas fees. As the crypto goes down in price, the fees lose percentage, motivating investors to use the cryptocurrency.
Wood adds that the ETH commission rate has dropped significantly recently, reaching 0.0096 Ethereum per transfer. This is a great advance, remembering that the network rates ranged approximately 8 and 10 dollars.
Also, the support for ETH is growing as developers launch their Dapps, NFT, or other applications backed by its Blockchain. One of the most relevant tools in the Blockchain is Etherscan, which works as a tracking App for various transfers with the cryptocurrency.
As Cathie Wood indicates her bullish ETH outlook, the cryptocurrency is trading at $2,647, up 1.37 percent in the last 24 hours. The crypto seems to be recovering after having a bearish streak that affected the entire market for over two weeks. Bitcoin reaches a price of $37,974 with a rise of 10.67 percent in the last week.
