Recently, ETH hit its highest record, $4,313. Lark Davis, an influencer and crypto analyst, expects Ethereum to extend its highs by 473% with the following factors.
Transactions Hitting New Records
Ethereum is currently flourishing, with daily transactions hitting new highs, 1.36 million. Keep in mind that this surpasses the daily 1.33 million ETH transaction in 2017. According to Lark Davis, that indicates the growing Ethereum demand. He also claimed that ETH has more active wallets than it had in 2017. You might have an idea of how the digital asset is attracting institutional and individual investors for now. Do you think Ethereum will continue breaking new records? For how long?
As investors continue to storm the Ethereum network, ETH prices spiked since users will increase the demand. However, Davis stated that the ETH network has some downsides that require an upgrade. However, the analysts showed his concerns about the high fees associated with Ethereum transactions.
Lark also stated that the rising attention on the Ethereum network may help the asset reach new highs with time. Most investors prefer Ethereum because of the value it has for crypto fans. Ethereum is the best as far as decentralized applications are concerned. For that reason, investors believe that the platform has a future for their investment. Have you ever considered investing in Ethereum? For what reasons?
Currently, Ethereum has outperformed BTC in spot volume, which means individuals purchasing Ethereum directly from spot wallets. Lark Davis admitted that although BTC is a popular asset, Ethereum is the legit deal for now. What do you think? Can you prefer ETH to BTC?
Projects such as EIP-1559 can promote the success of Ethereum soon.
In his crypto analysis, Davis pointed out that the awaited triple halving that will happen in some months to come will catalyze an increase in Ethereum value. As a result, ETH will have a lower average yearly issuance than Bitcoin. That will decrease the 4.5% issuance to around 0.5%, translating to a 90% reduction. That will equal three BTC halves.
What is your thought on Ethereum’s future? Will it reach the $19,000 mark? You can share your outlooks below.