2027 could be the Ethereum year!
As of now, when the price chart of ETH is examined , 1 Ethereum in US Dollars is 1,648 dollars, while 1 Ethereum in Turkish lira is traded on crypto money exchanges at 13,166 TL . Also, looking at today’s Ethereum price chart, ETH rose by 2.813 % in 24 hours.
Eth especially managed to make a big splash by surpassing the ATH (all-time record). Especially after the announcement of ETH 2.0, the asset continued to rise rapidly, increasing its value. Especially, expectations from ETH, which is a favorite of developers, are quite high. Currently, we have collected price predictions for ethereum which is hovering around $ 1,648 . We will see how the ETH value will be in the coming days.
The year 2020 has been extremely positive for cryptocurrencies. Especially with the rally initiated by Bitcoins, altcoins also recorded very significant increases. Ethereum has charted well as the second largest cryptocurrency.
What Happened in ETH Markets in 2020?
2020 was a very active year both for the world and for the cryptocurrency industry. With the coronavirus pandemic, the world entered the biggest global crisis since the second world war. This crisis has caused the deaths of hundreds of thousands of people and brought great economic difficulties in every country of the world.
The cryptocurrency industry also entered in a huge decline in the early days of the pandemic. The value of cryptocurrencies has almost hit the ground. However, the recovery process started as of summer.
In the summer, things started changing for cryptocurrencies. The biggest reason for this was corporate interest. With the announcement of Bitcoin investments by companies such as MicroStrategy, MassMutual, Square etc., the value of Bitcoin started to rise rapidly. Ethereum and other cryptocurrencies were also affected by this rise.
However, the biggest event occurred with the announcement of PayPal. With PayPal’s announcement of its support for cryptocurrencies, the value of cryptocurrencies started to increase significantly. As it is known, the payment giant PayPal has millions of users around the world. With this move of the company, people can easily access cryptocurrencies with the smartphone application in their hands. This event had a tremendous impact on the cryptocurrency industry. Since then, cryptocurrencies and Ethereum have entered a very significant upward cycle.
Another very important development took place for Ethereum at the end of 2020. With the Ethereum 2.0 network being activated in early December, some issues within ETH began to be resolved. As you know, most DeFi tokens work on the ETH network. The appreciation of these tokens and the increase in transaction volume caused major slowdowns in the ETH network. ETH 2.0 was launched to address these slowdowns, and the value of ETH also increased following the launch of this network.
Ethereum had managed to surpass the $ 1420 ATH level in early 2021 and set sail for new ATHs.
David Grider, one of the leading names of Fundstrat Global Advisors, made very striking statements about ETH. In his statement, Grider emphasized the importance of DeFi tokens and predicted that the value of Ethereum could increase 7 times.
“The biggest reason DeFi tokens are so popular is that they are based on Ethereum infrastructure. Many of the most famous DeFi tokens are ERC-20 based tokens. However, the biggest problem in this regard is the GAS fees.
However, I believe these problems will be overcome once the ETH 2.0 upgrade starts working more stably.
Defi has Transformed the crypto industry in a very critical way. Because on the platform, borrowing and lending transactions can be performed easily without the need for any intermediary like traditional banks. Given its popularity, it seems clear that this technology can go much further.
I think that Ethereum will also experience a big rise with the contribution of DeFi projects. My estimate is $ 10,500.
Stunning Ethereum Forecasts
Simon Dedic, Co-Founder of Blockfyre and director of Moonrock Capital, made extremely ambitious statements for Ethereum. Dedic thinks the ETH value will reach $ 9,000 in the long run . James Todaro also states that like Dedic, $ 9,000 is available for ETH.
One of the most striking comments on the subject came from Brian Schuster, the founder of Ark Capital. Schuster claimed that Etherum will see the level of $ 100,000 by 2024.
Along with big predictions, smaller predictions came from some of the top names. Gov Capital expects the asset to exceed $ 2,500 by 2022 . In fact, this figure seems to be exceeded even this year.
Prime XBT also states that by 2025, the ETH value will be somewhere between $ 3700 and $ 5,700.
The year 2027 could be the year of Ethereum
Ryan Watkins stated that he believes 2021 could be the year of Ethereum. According to him, the entity that has come a long way with the emergence of ETH 2.0 can continue this. According to Watkins, what the year 2020 means for Bitcoin, 2021 could mean the same for Ethereum.
Many major crypto money exchanges also have important plans for ETH. For example, the Coinbase exchange is planning to create a special staking infrastructure for Ethereum owners.
Raoul Pal also gave a very interesting comment. According to Pal, Ethereum has such great potential that it may even surpass Bitcoin in the next decade.
Ethereum Derivatives trading on rise
The futures market gained momentum after the Ethereum price broke down from the support level that experts saw as critical. A large amount of futures contracts have been liquidated in the ETH market. Crypto currency experts have recently shown the increase in NFT craze as a reason for this situation.
As the unprecedented token ( NFT ) continues in popularity, the Ethereum network has been seen to take away from its high fees . These problems have driven decentralized finance (DeFi) projects to seek interoperable alternatives. PancakeSwap, the leading app of Finance Smart Chain, made a significant move with its accumulation in total locked value (TVL).
Currently, the price of 1 ETH is 13.147 TL. In terms of foreign currency, it finds buyers in stock exchanges as 1.645 Dollars . Finally, Ethereum rose 2.395% in 24 hours .