Ethereum ETH/USD is a platform powered by blockchain technology that has enabled smart contract functionality and has been the go-to network for the development of decentralized applications (dApps).
As such, Ethereum has essentially powered a large portion of Decentralized Finance (DeFi) and, as such, has seen a high level of growth.
Speculation surrounding ETH reaching a $20 trillion market capitalization as a catalyst for growth
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We covered a report by Cathy Woods’s Ark Invest, which forecast that Ether (ETH) will meet or even exceed a $20 trillion market capitalization throughout the span of the next ten years, which would lead to a price surrounding $170,000 or $180,000 per ETH token.
This report predicted big things for other cryptocurrency tokens as well. Ark Invest is a tech-focused American asset management company that is based within the US with a total of $12.43 billion assets under management.
Furthermore, according to Ark, the smart contracts and decentralized applications which are built on Ethereum are “usurping traditional financial functions at the margin.”
In any case, this has created a lot of optimism regarding the value of the ETH token, and it will increase in value as a result.
Should you buy Ethereum (ETH)?
On January 27, 2022, Ethereum (ETH) had a value of $2,420.45.
To truly see what this value point means for the Ethereum (ETH) token, we will be going over its performance in December, alongside its value throughout the previous month.
The all-time high value of Ethereum (ETH) was on November 10, 2021, when the token reached a value of $4,878.26. This means that the token was $2,457.81 higher in value at its ATH or by 101%.
In terms of the performance of the token throughout the previous month, its highest point was on December 1, 2021, when it reached $4,765.73.
Its lowest value point, however, was on December 30, 2021, when it decreased to $3,628.53. In other words, this is a decrease of $1,137.2 or by 24%.
With that in mind, Ethereum (ETH) has the potential to increase to $2,600 by the end of February 2022, making it a solid buy.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: