Finder’s Panel Predicts Ethereum to Reach $20,000 by 2025
According to a Finder’s panel, Ethereum could reach $20,000 by 2025.
Ethereum has since been gaining momentum, starting the year 2021 at $1,000 and reaching an all time high of $4,196.63, according to Coin Metrics. Since then the number 2 crypto asset has lost a little steam and dropped down to its current price at $2,400. ETH’s average growth rate for 2021 is still a whopping of 197.4%.
This year’s massive rally has given ETH a lot of popularity. Ethereum currently ranks as the second most popular coin behind Bitcoin.
With a lot of support coming to Ethereum, investors have been very bullish on it. Several analysts believe that the coin is gearing to overtake Bitcoin as the most popular coin in the market. A lot of technological improvements are being carried out on the blockchain that its utility cases just keep piling.
DeFi and NFTs Catalysts to Ethereum
The increasing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) have helped to further drive the popularity of Ethereum. Giving it more utility cases that benefits the investors of ETH.
About 70% of the finder’s panel agreed that with DeFi and NFTs, Ethereum now has more use cases than Bitcoin.
John Hawkins, senior lecturer at the University of Canberra, went against the majority to say more use cases would not necessarily benefit Ethereum. He elaborated on this by saying that ETH will most likely get pulled down with Bitcoin, regardless of having more utility cases.
Ethereum price sits below $2,5000 |Source: ETHUSD on TradingView.com
With staking and yield farming with DeFi, investors have found another way to put their investments to work, while at the same time benefiting the network.
With Ethereum 2.0 lurking on the horizon, developers are looking to replace the existing Ethereum blockchain with a new one. This will help to solve the current bottlenecks of the network. It will also increase the number of transactions being made on the network. Hopefully helping to reduce the exorbitant fees being charged for transactions when network traffic is high.
Finder’s Panelists’ Ethereum Outlook
The Finder’s panel consisted of a number of prominent panelists. Present were Dr. Iwa Salami from the University of East London. COO of BitBull Capital, Sarah Bergstrand. Vishal Shah, CEO of Alpha5. Head Economist at ConsenSys, Lex Sokolin. Amongst others.
A good number of the panel seemed to agree that while the Ethereum might not have much further to run this year, the next four years is going to see a massive run.
CEO Vishal Shah was on the more conservative side. He predicted that the ETH would not be worth much more than it is now. Putting it at just $4,000 by 2025. Shah believes that Ethereum will continue to perform. But that the unlimited supply of the Ethereum is a demerit to it. He also added that Ethereum was in a race with other protocols for the its usability profile. And that there are other faster and cheaper chains that will rival the ETH in the future.
Others did not see this as a befitting forecast. Citing the upgrades being done on the network, Sarah Bergstrand, Chief Operations Officer at BitBull, gave a price prediction of $100,000 per ETH by the end of 2025. A staggering forecast.
She believes that mass adoption of Bitcoin will be followed by mass adoption of Ethereum. Also that the upgrades being carried out on the network will help to push the price higher.
Dr. Paul Ennis put his prediction at $10,000 by the end of 2025. Stating that Ethereum is currently undervalued.
Dr. Salami went on to give the coin a $20,000 forecast by 2025.
This brought the average of the panel’s predictions to $19,842 per ETH by 2025.
