Teeka Tiwari who has spent years promoting bitcoin and other cryptocurrencies has recently indicated that ETH is still undervalued. According to Tiwari Ethereum Price could surge 500% from its current price and make it to the five-digit price territory.
Ethereum Price to Surge by Another 500%
Ethereum has benefited from becoming one of the most widely used blockchain networks in the crypto industry. Thanks to the proliferation of non-fungible tokens (NFTs) and decentralized finance (Defi) over the last year.
Despite high transaction costs, the price of Ether has more than doubled since the beginning of the year.
Teeka Tiwari, a former hedge fund manager, and crypto analyst, recently reported that Ethereum is currently undervalued. The price of ETH could increase by another 500%, bringing it into the five-digit range.
In the next decade, Tiwari believes Ethereum would outperform Microsoft, Apple, Google, and Facebook combined in terms of value. Defi and decentralized apps (Dapps), according to Tiwari, would make Ethereum the most valuable software platform in history.
ETH is hovering above $2,300 per coin, implying that such a significant increase would push it to about $13,000 per coin. The asset’s market value will soar to more than $1.5 trillion.
Furthermore, Tiwari predicted that the market capitalization of ether would ultimately exceed that of bitcoin, which is currently just shy of $1.2 trillion.
In my view, two trends – DeFi and decentralized apps (called dApps) – will make Ethereum the most valuable software platform in history. Because when you eliminate the need for a third party or middleman, you can dramatically lower costs.” – he added.
The analyst went on to say that he isn’t the only one who thinks Ethereum has a bright future. Former White House Director of Communications, projected that the native digital asset will become a “sticky” cryptocurrency and “a store of value.”
Cuban, on the other hand, described ETH as a “real currency” that he began collecting four years ago and now accounts for roughly 30% of his cryptocurrency holdings.
Ethereum Is Expected to Be More Valuable Than Bitcoin
Ahead of Ethereum’s upgrade to Berlin and direct listing on Coinbase, it is expected to reach all time highs.
Following the Berlin update, the London upgrade expected in July may make Ether scarcer than Bitcoin, particularly once the cryptocurrency’s ability to be burned after transactions is introduced, according to Balina.
Ethereum price today as of writing is $2,382.44 and ETH price is up 9.2% in the last 24 hours. ( coingecko )