ETH hits a new ATH and analysts project a price of $ 10,000 by the end of 2021. ETH is up about 40% in April.
It is the crypto asset of the moment. Ether (ETH), the second-largest cryptocurrency by Market Cap, could hit $ 10,000 before the end of the year , according to market research firm FundStrat.
ETH is up about 40% in April , consistently hitting all-time highs and surpassing $ 2,900 on the first day of May , versus a 5% monthly decline for bitcoin (BTC).
In an official company post, FundStrat commented that it maintains its overweight recommendation of ethereum versus bitcoin, stating that “The crypto narrative is shifting from bitcoin to ethereum and other segments such as DeFi (decentralized finance) and Web 3.0 applications.”
For their part, different analysts seem to agree that a multitude of factors has influenced ETH’s most recent push. Simon Peters, a market analyst at the social trading platform eToro, believes that the popularity and success of DeFi platforms and other Ethereum-powered applications and use cases are driving institutional investors to gain exposure to ETH.
Institutional investments are diversifying. After an exposure to Bitcoin, ETH is the next natural choice.
Lastly, FundStrat also expects BTC to hit $ 100,000 this year and the total cryptocurrency market capitalization to reach $ 5 trillion.