Ethereum to Reach $20,000 by 2025? Factors Behind The Bold Call

Ethereum could reach $20,000 by 2025 according to a Finder’s panel.

Ethereum has since been gaining momentum, starting out at $1,000 at the beginning of the year and reaching an all time high of $4,196.63, according to Coin Metrics. Before losing steam and dropping down to its current price at $2,400. Clocking an average growth rate of 197.4% in 2021.

This massive run has given the coin a lot of popularity. Ethereum currently ranks as the second most popular coin behind Bitcoin.

Related Reading | Billionaire Tim Draper: Bitcoin Will Reach $250,000 By The End Of 2022

With so much support pouring out for the coin, investors in the coin have been very bullish on it. Lots of analysts believe that Ethereum is poised to overtake Bitcoin as the most popular coin in the market. So much technological advancements are being carried out on the blockchain that its use cases seem to be endless.

Impact Of DeFi and NFTs

The growing popularity of decentralized finance (DeFi) and NFTs have helped to push the popularity of Ethereum. Giving it more use cases that benefits the investors in the coin.

About 70 percent of the 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 grain to say more use cases would not necessarily benefit the coin. He expanded on this by saying that Ethereum will most likely get dragged down with Bitcoin. Despite having more use cases.

Ethereum price chart

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 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…

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