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Until two weeks ago, Ethereum (ETH), the world’s second-largest cryptocurrency, was meandering in a dull, sideways crawl.
It was stuck in a narrow trading range.
But now, all that has changed.
ETH has suddenly exploded in price.
It has jumped a whopping 52% from its July 20 lows.
And perhaps most importantly, it has broken out of the trading range with no new barriers in sight.
Why is this happening? And how much further could it go?
Ethereum Is the World’s Most
Widely Used Cryptocurrency
Bitcoin (BTC) may be the world’s largest crypto in terms of market cap.
But in terms of usage, Ethereum is far bigger. In fact, the overwhelming majority of blockchain transactions in the world today are based on Ethereum.
And Ethereum is especially important for the rapidly growing world of decentralized finance (DeFi), which promises to revolutionize the world of banking and global markets.
Already, the funds “deposited” on DeFi platforms — or total value locked (TVL) — have exploded …
• From just $664 million at the beginning of last year …
• To $70.6 BILLION as of this morning.
That’s a growth of 10,530% just in the last 19 months.
All helping to drive up demand for Ethereum!
How Far Could Ethereum Soar From Here?
Needless to say, in parabolic markets like these, accurately pinpointing a future peak is not possible.
And the surges can often exceed almost anyone’s expectations.
Earlier this year, for example, only a minority of pundits expected Ethereum to surge from last year’s low of $110 to anything beyond $2,000.
Fewer still said so out loud.
But it actually went far beyond $2,000, hitting a high of $4,356.
That means from its $110 low in March of last year, ETH enjoyed a mindboggling 39.4-fold gain!
Suppose it repeats that performance from its most recent correction low near $1,750?
For the answer, just multiply $1,750 by 39 and see what you get.
Do the math yourself. I dare not mention the number. It’s just too unbelievably high.
Impossible?
No.
In the world of crypto, almost anything is possible. But even if Ethereum goes up just one-tenth as much, it could still quadruple your money.
Just remember that all cryptos, Bitcoin and Ethereum included, are very volatile assets. So strictly invest the funds you can afford to risk.
Good luck and God bless!
Martin
