Home Altcoins News Ethereum (ETH) price Breaking the Can’t Scale Narrative with 9 Others Signs for $10,000

Ethereum (ETH) price Breaking the Can’t Scale Narrative with 9 Others Signs for $10,000

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Ethereum trends are looking like a game changer.  The price of ETH keeps rising and the most important question doing the rounds is about how far it would go up? And, if it would reverse what are the things that we need to pay attention to.

You Tuber Sheldon Evans, have been analyzing hard on: Is the case for a $10,000 ETH a valid one? Is Binance smart chain still a threat to Ethereum? The Ethereum community genuinely believes ETH is a best coming out of the mud and that once it is out it can’t be stopped.

Breaking through the $2500 level possibly promises a strong growth to the upside to around $3000. The $3,000 is a psychological level. These are levels where people will want to take some profits and move out of the position, thereby we can expect some resistance for the price to travel beyond that. It can be very clearly seen that the price traveled very close to $2,950 which is very close to $3,000 and there was a bit of rejection.  However, if there will be a recovery from this price level, there will be a strong movement up to the $3,270 level.

There are different factors fueling this growth. There was a tweet by Spencer Moon which pointed to: 10 signs that ETH is well on its way back to $10K.

“Ethereum dwarfs every blockchain in terms of fees paid, with a current run rate of nearly $7 billion — confirming massive demand for $ETH block space. 

Ethereum settles $30.5 billion worth of value per day, far more than Bitcoin and every other blockchain — to put this into context, PayPal settles ~$2.5 billion daily.

Ethereum has 625k daily active addresses (90-day MA) — a figure that continues to climb and now sits comfortably at ATHs.

There is now $65 billion locked in DeFi, with 16 different projects having more than $1B TVL — a sign that Ethereum is institutional-grade financial technology.

Ethereum has $50B in outstanding stablecoin supply, with 500k daily unique senders and $20B in value being exchanged per day — a sign of explosive product-market fit.

Monthly #DEX volume stands at more than $60B, up ~60x YoY — proving #DeFi liquidity already rivals #CeFi.

More than 200k BTC ($11.2B) are now represented on Ethereum in various forms — a sign that ETH is becoming an economic vacuum for all assets, including Bitcoin.

Sales of NFTs on Ethereum have now surpassed ~$600M, with 13 pieces selling for $1M+ each — a sign that new categories of applications are also emerging on ETH.

Ox Polygon is currently doing ~1M daily txs and has on boarded numerous DeFi blue chip projects, including AaveAave which has >$2B in liquidity there — disproving the “Ethereum can’t scale” narrative.

Finally, in less than 3 months(!), the EIP-1559 upgrade will be activated, likely resulting in hundreds of millions worth of ETH being burned each year — this is a massive catalyst for ETH value capture and its overall fundamental investment case.”

 

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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