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Ethereum (ETH) Price to Surge Orders of Magnitude, DeFi Involved, Analyst Says

News
Wed, 06/17/2020 - 12:15
Vladislav Sopov
Joseph Todaro, a managing partner and reseacher from the Blocktown Capital hedge fund, predicted the level the Ethereum market cap could reach if DeFi succeeds
Ethereum (ETH) Price to Surge Orders of Magnitude, DeFi Involved, Analyst Says
Cover image via stock.adobe.com
Contents

Mr. Todaro has been involved in cryptocurrency investing since 2013. He believes that the next bullish cycle could be good for Ethereum (ETH) market capitalization.

One trillion USD is in the cards?

Mr. Todaro reminded his Twitter followers of the narrative during the ICO euphoria in 2017. In this period, the community was expecting the Ethereum (ETH) market capitalization to reach $100B. In the next rally, the targets could be orders of magnitude higher, according to the analyst.

Joseph Todaro: Ether marketcap may reach $1T because of DeFi
Image via Twitter

According to the analyst, one trillion USD could the next Ethereum (ETH) milestone. And it is the decentralized financial instruments market that may bring Ethereum there.

At press time, Ethereum (ETH) market capitalization is $26.024B for over 111M Ether in circulation. If the Ethereum (ETH) market cap breaks $1T, its price would multiply by about 30. 

So, we can expect a four-digit Ethereum (ETH) price very soon, according to this prediction.

Controversial catalyst

At the same time, this growth factor for Ethereum (ETH) has been bashed by numerous analysts and investors. 

Legendary self-taught trader Josh Olszewicz mocked the parallels between the periods of hype around ICOs and DeFis. He asked Mr. Todaro about the possible fraudulent essence of DeFi and its realization:

So is defi also riddled with scams and naïve 'investors'?

Also, venture investment analyst Brad Mills called DeFi assets 'Digital Forex'. As covered by U.Today, Litecoin (LTC) creator Charlie Lee highlighted that DeFi is not decentralized at all.

The father of Digital Silver slammed the DeFi sector after another attack on its service. He believes that DeFi reflects 'the worst of both worlds' and doesn't go beyond 'decentralization theatre'.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)