Ethereum – the largest smart contract platform in the world smashed a new record today by surpassing it’s previous All Time High (ATH) market capitalization of $136B. The premier asset is currently trading in a range of $1250-$1270, which gives it a market capitalization of $144B. It’s momentum appears intact and the previous ATH price record is also likely to be broken in the next couple of hour!
This is because the supply of Ethereum has increased since the last bull run of 2017-18, which allowed the market capitalization to be breached, despite the ETH price remaining below the All Time High at $1448. Ethereum is poised for greater price action, with many analysts predicting $1600 in the short term and then a move onto more extreme targets above $10,000!
Global Macro Investor and Real Vision Group founder and CEO Raoul Pal has grown particularly fond of Ethereum lately. He recently tweeted that Ethereum is equivalent to Bitcoin. It will be able to show greater percentage gain over Bitcoin in this cycle and even flippen Bitcoin’s marketcap sooner than later. He presented a price target of $20,000 per ETH, which would give it a market capitalization of over $2 Trillion!
You might also like
More from Blockchain
Non Fungible Tokens or NFTs have recently became popular and the NFT archaeologist are rediscovering the old projects again. There …
Arbitrum mainnet beta was launched on the Ethereum network on Sep 01 and there's astonishing progress on that front. As …