Ethereum broke the $ 3.500 threshold today. Network usage has increased dramatically in recent weeks, resulting in a 200% hike in tariffs. And, given that more and more users have chosen to adopt what is the main smart contracts platform, the forecasts for the asset's value increased accordingly.
Well, in this scenario Raoul Pal, a former Goldman Sachs hedge fund executive, decidedly bullish on cryptocurrency, stated that Ethereum will be at $ 20.000 by the end of March 2022, while the price of Bitcoin it will be between $ 250.000 and $ 400.000 over the same time frame. For Ethereum, Pal then specified how the growing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) are among the main drivers of this positive forecast.
“The adoption of Ethereum has far outstripped the rest of the space crypto", Pal said, adding that the recent Ethereum London update and EIP-1559 act to reduce the supply of ETH, and with the piling of ETH 2.0, the bullish configuration further strengthens due to the price explosion.
We also remember that Raoul Pal does not limit himself to analyzing cryptocurrencies without being personally involved. The CEO actually revealed last year that he had moved its entire cryptocurrency investment portfolio, both at the level of crypto specifications, and on products linked to the trend of the cryptocurrency ecosystem. More specifically, the CEO then revealed that his holdings are made up of 55% of Bitcoin, which makes up the majority of his investments. Ethereum (ETH) is the second largest share, with 25%. The remaining 20% consists of an equally weighted basket of decentralized finance protocol (DeFi) tokens, blockchain Layer 1 and interoperability solutions.