Ethereum is the second-largest cryptocurrency in the town. Meanwhile, Ethereum shows faster growth than other cryptocurrencies. Even in the recent cryptocurrency market crash, Ethereum’s drop rate has been lower than Bitcoin‘s. Statistically, Ethereum has lost about 11% of its value, while bitcoin, the leading cryptocurrency, has lost up to 50% of its value. Considering the recovering rate from the recent crisis, Ethereum shows positive results. The recovering rate of Ethereum is about 3.79%, while Bitcoin’s is 0.18%. Does Ethereum unit price will be $10,000 in the near future? Let’s have a closer look.
Ethereum unit price will be $10,000 because of these reasons
Unlike other cryptocurrencies, Ethereum provides a programmable environment for users and organizations who require distributed ledger services. Apart from financial transactions and aspects, Ethereum provides services for gaming, DeFi projects, and Decentralized applications. Moreover, there are plenty of blockchain networks that are built on top of the Ethereum network. The latest trend of Crypto-tokens, NFTs are also driven by the Ethereum network. This is one of the main reasons for the growth of the Ethereum network, and during the past year, Ethereum has stated a 900% growth rate.
Generally, the mining and other essential procedures of the Ethereum network require less computational power than other networks. Currently, the Ethereum network founders and researchers are testing the Proof-of-Stake (PoS) consensus algorithm. If the testing becomes a success, they plan to shift from the Proof-of-Work (PoW) algorithm to the PoS algorithm. As expected, PoS could have much lower energy consumption even than at present.
The positive facts of the Ethereum network have led to receiving more participants to the network. These reasons impact on increasing the market cap of the network. Since there are no limitations in supply, Ethereum will be $10,000 very soon. Once the market cap becomes slightly higher than $1 billion, it will happen! Many experts have forecasted and predicted this concern. According to Blocktown Capital founder James Todaro, “Ethereum will be worth more than $9,000 in the near future”. Anyways, let the future decide!
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- The above discussion is neither financial advice nor financial recommendation. It is a basic study on cryptocurrency which is done based on resource sources. Therefore, our team accepts no responsibility or liability for any predictions/decisions you make, in the industry.Â