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Summary
- Amid bearish crossover crypto trends, investors are likely to reshuffle their portfolio.
- A smart contract platform’s native cryptocurrency is likely to hit US$ 4,000 per token this year.
- For long-term capital gain, investors could invest in this cryptocurrency now.
The crypto market is crawling in the bearish zone, having dropped more than five per cent in 24 hours on Tuesday, July 13. Some crypto investors are looking into reshuffling their portfolio on the back of this development, and the top question on their minds is deciding which cryptocurrency to invest in amid this bearish crossover.
A blockchain-powered decentralized finance (DeFi) and smart contract platform’s native crypto token is being considered by some experts as the ‘best’ cryptocurrency to invest in now.
Ethereum’s native token, aka Ether, has declined below the mark of US$ 2,000 in the recent downside trend. But it has yielded 14x against Bitcoin this year, which makes it one of the top crypto tokens at the moment.
Why should you consider investing in Ether?
Ether is considered an undervalued cryptocurrency because more than half of the altcoin projects produced have been written on its smart contract chain, using its secured “solidity” programming language.
The token registered an all-time high of around $4,400 apiece in mid-May, while crypto analysts pegged its value well above the mark of US$ 10,000 apiece.
Can Ether still hit $10 K?
Ether is more than an asset class as it is used as gas fee on the ERC-20 platform. Most of crypto coins have been using this token as a medium of swapping. Institutional investors’ appetite for unique use case cryptocurrency is still there and Ether tops their expectation. On top of that, one of the largest US investment banking firms is bullish on Ethereum 2.0 and staking.
Along with Bitcoin exchange-traded funds (ETFs), Ether ETFs have also garnered massive traction from mainstream investors. The prolonged crypto ETF filing request with the US securities Exchange Commission (SEC) is likely to get final approval by the of this year. This development could attract more investment in Ether from Wall Street’s institutional investors.
Some experts forecast that staking in Ethereum is likely to rise by 350 per cent to US$ 40 billion by 2025.
Copyright © 2021 Kalkine Media
How has Ether fared in 2021?
Ether, the second ranked crypto token, has returned about 167 per cent in 2021. In the last on year, Ethereum blockchain’s native token skyrocketed by 733 per cent despite notable correction post the May 19 crypto market crash.
Ethereum has faced criticism due to higher gas fee and DeFi application developer caused congestion on its network. Just before launching its upgraded version, Ethereum implemented layer 2.0 operations by adding polygon (MATIC) and Polkadot (DOT) in the first quarter of 2021. Ethereum layer 2 provides faster transactions at lower gas fee.
Crypto experts anticipate Ether to reclaim its US$ 4,000 landmark by the end of this year. Thus, Investors could look into exploring Ether before the Ethereum 2.0 launch in 2021.
The above constitutes a preliminary view and any interest in stocks and cryptocurrencies should be evaluated further from investment point of view.
