Following the Ethereum price boost that happened earlier this week, experts predict that ETH could surge to $10,000 in the coming years. On the flip side, experts warn against Ethereum-killer Cardano, which seems to suffer from issues and bugs.
As many investors would know, several cryptocurrencies experienced huge gains in these last few days. The price boost is linked to Bitcoin, which recently launched its first future exchange-traded funds (ETF). This progress led experts to believe that Bitcoin could surge to $68,000 some time this year.
Ethereum, as the world's second-largest cryptocurrency, might also see bigger gains in the market.
Ethereum Price Prediction: Up to $10,000
According to Oanda analyst Ed Moya, Ethereum has "a giant lead over the competition (as the biggest/original home for dapps and NFTs)," per Nasdaq. The idea emphasized the reputation of Ethereum as one of the longest and most-established cryptocurrencies in the market.
Moya also pointed out that the incoming Ethereum 2.0 upgrade also improve its systems to 100,000 transactions per second. However, despite the many promising features, developers have yet to reveal the release date for the upgrade.
Lastly, Moya pointed out that Ethereum has already gained a 500 percent increase compared to last year's market. This means a $10,000 price ceiling is very attainable within the next two or three years.
Cardano Price Warning
Contrary to Ethereum's profitable gains, experts are now warning investors against Cardano. For reference, Cardano is called the "Ethereum-killer" because ADA and ETH have a lot in common. Their programmable ecosystem features both smart contracts and proof-of-stake.
Rosh Singh, the founder of crypto trading start-up Quadency, said that Cardano "had a huge amount of funding and time to catch up with Ethereum and when they finally launched smart contracts they were full of bugs and issues that continue to linger to this day," per Nasdaq.
To emphasize, Cardano has a lot of ongoing issues in its system. This poor performance might eventually affect its trading in the market. At the time of writing, Cardano is trading at $2.07, with a 1.3 percent downward decrease in the last 24 hours. When compared to its market surge last week, which peaked at $2.36, the market clearly suffered a significant loss.
Other Cryptocurrencies to Look Out For
Aside from Ethereum and Cardano, Nasdaq mentioned a few fast-growing networks in the cryptocurrency markets. Investors might want to consider trying these out. Also, note that these networks introduced and innovative solutions to solve problems with proof-of-stake systems.
- Avalanche: It features a new technology called directed acyclic graphs (DAGs) that validate transactions based on its nodes. This system helps regulate bot tools in the market.
- Fantom: It has a similar system to Avalanche but calls it Lanchesis. This program limits the circulation but improves transaction speeds to less than two seconds.
- Terra: It uses a unique verification method through a proprietary algorithm that matches supply and demand rather than relying on third-party programs.
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