Ethereum Has Potential to be a Store of Value- Ryan Adams
Ethereum, the second-largest cryptocurrency by market cap has had a topsy turvy ride as of late. Its price currently has been fluctuating between $180 to $200.
However, since the start of the year, Ethereum has performed positively. A crypto trader from trading view who goes by the name of 'wolf' has shared a chart on twitter. He believes that the way Ethereum is increasing its price steadily, by the end of the year it would hit $790. The chart also highlights that at the start of the year Ethereum traded at $130 but its steady growth could explode and make it reach near the $800 mark.
Ethereum Usage All-Time HighRyan Adams, a renowned crypto investor has shown the same optimism towards Ethereum and believes that the cryptocurrency is massively undervalued. He expects the price to go up to a level where Ethereum enters the store of value bracket.
Adams, the Mythos Capital founder shared his views on Twitter and believes the price is yet to do justice to the usage. The Ehtereum usage is at an all-time high and according to Adams, once the price catches up, it'll edge closer to being a store of value and catches up with bitcoin.
Glassnode recently analysed the Ethereum supply 1w-1m and noted that over the last twenty-four there has been a drop of 15.9% and overall, in the last four weeks ETH stash has been a bit stagnant.
It’s not 2017. We’re not in a bull marketBut Ethereum usage is already at all-time-highs It won't last First ETH price will catch up with Ethereum usage Then ETH price will catch up with ETH as a store-of-value Til then... ETH is doubly undervaluedhttps://t.co/qLgHgrftCr — Ryan Sean Adams - rsa.eth ? (@RyanSAdams) May 25, 2020
The steady growth over months even during the time where most assets even bitcoin once crashes shows that second spot coin is on the rise. While the claims of Ryan Adams might appear a touch over-ambitious it is safe to say that if the surge continues Ethereum value is set to grow. In the last week, however, it suffered a bump in the road as it priced dropped by 7% in 24 hours.
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About The Author
Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.
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