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    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

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    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

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  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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Why Standard Chartered says Ethereum (ETH) could pump to $35,000

2021-10-02
in Ethereum
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Why Standard Chartered says Ethereum (ETH) could pump to $35,000
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Whereas the Bitcoin or Ethereum debate rages on between early buyers and maxis, London-based financial institution Customary Chartered already appears to have picked a facet.

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Ethereum Closes Near Its Next Profit Take Region As Bullish Momentum Continues

The financial institution, in a recent research note, stated Ethereum may outperform Bitcoin over the following few years, even stating it ‘structurally’ values the world’s second-largest cryptocurrency by market cap at over $35,000.

“Structurally, we worth Ethereum at USD 26,000-35,000…We see the Ethereum-Bitcoin cross doubling to 0.161, a stage at which ETH’s market cap would catch as much as BTC’s,” researchers on the financial institution famous, including:

‘Akin to being a forex like Bitcoin, it (Ethereum) is extra akin to a monetary market by which non-linear monetary transactions corresponding to lending, insurance coverage, and exchanges can function.’

Customary Chartered famous it was ‘this logic’ that underpinned its absolute valuation estimates for Ethereum versus the US greenback and its relative valuation in opposition to Bitcoin. 

The financial institution, in actual fact, said that whereas Bitcoin’s valuation could possibly be in contrast in opposition to the worth of bank card corporations, the valuation of Ethereum could possibly be in contrast in opposition to the entirety of all world banks by way of their market cap.

Ethereum grows on establishments

Ethereum has grown from its early ‘sound cash’ narrative to an ecosystem that spans Web3 dApps, non-fungible tokens (NFTs), good contract-based monetary providers, decentralized finance (DeFi), and way more.

The upcoming ETH 2.0 improve additional bolsters Ethereum’s place within the crypto market—shifting it from a ‘proof-of-work’ mechanism to a ‘proof-of-stake’ consensus design. This sees it change into a extra environmentally pleasant blockchain within the coming years—a story that may assist parlay the unfavourable press plaguing Bitcoin over the previous 12 months (for its supposedly climate-damaging nature).

It’s a shift that even Customary Chartered identified. “The shift has apparent environmental benefits,” the researchers wrote, including “It removes the necessity for extreme pc energy for use in ‘mining.’ The swap from [proof-of-work (PoW)] to [proof-of-stake (PoS)] is anticipated to be progressively phased in throughout H1 2022.”

In the meantime, Customary Chartered did level out that different ecosystems other than Ethereum existed and will rival Ethereum. “Separate ecosystems exist already and will proceed to problem Ethereum in area of interest areas…Furthermore, “regulatory considerations associated to Ethereum will probably be very totally different to these than Bitcoin,” the researchers wrote.

“Whereas potential returns could also be higher for ETH than for BTC, dangers are additionally larger,” they ended.

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