Can Ethereum (ETH) Reach 100k ($100,000)?
✍️ 21 October, 2022 - 11:47 👤 Editor: Jakub Motyka
- ETH value could reach as high as $100,000, according to this price prediction for Ethereum.
- Institutional adoption and the resilience in the second-largest blockchain support the claim. Can Ethereum reach $100,000?
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Although Ethereum (ETH) led investors to massive losses this year, there is a positive sentiment. New prediction shows that the second-largest digital asset could reach as high as $100,000. An increasing investment among institutional adopters backs the prediction.
However, at the time of writing, nothing much had changed in the price of ether. The digital asset is trading for $1,288, representing a paltry 0.27% decline in the past day. On a weekly scale, the price is down 2.92%. On matters adoption, the newest corporation to adopt Ethereum is Fidelity.
Institutional Adoption Drives Growth In Ethereum
Fidelity is eying a new partnership with the second-largest blockchain network. It follows in the step of the asset management firm to launch institutional Ethereum capability for its clients. Specifically, the investment arm of the$4.5 trillion company, Fidelity Digital Assets, will roll out custodial and trading services.
German-based N26 is another firm in the financial spectrum, eying expansion on Ethereum. The digital bank is planning to launch a trading service targeting its customers. In addition, N26 has added support for multiple cryptocurrencies, including ether.
Generally, as more institutional adopters jump into Ethereum, the blockchain could register significant inflows. Such investments are expected to pump the price of ether based on demand and supply balance.
ETH Historical Price, Technical Outlook, And Price Prediction Of $100,000
If the positive sentiment from the institutional adoption will hold, ETH has some serious recovery to make. As it looks, the latest data indicates that the smart contracts-enabling token is not out of the woods yet.
In the past month, data from CoinMaketcap shows that ETH has declined 2.9% since trading at $1,328. The last quarter has also brought an 18% loss to the Ethereum’s investors from a high of $1,582. The year-to-date data is not great either. In the period, the second-largest crypto has shed a whopping 64%.
However, the losses are not specific to Ethereum alone, but have affected the whole crypto space. Since peaking at a high of $3 trillion crypto market cap in 2021, crypto market valuation is down 69%. It is currently at $913 billion, having declined by a slight 0.83% in the last 24 hours.
To sum it up, the road to the price prediction of $100,000 for Ethereum (ETH) will be more apparent when the crypto winter clears. Ethereum has recorded significant recovery in the past whenever there is a market leg up. Not to mention its broad market capitalization of $157 billion.
More predictions for Ethereum:
- Ethereum (ETH): Price Prediction For 2030
- Ethereum Price Will Hit $3000, According To This Prediction
- Ethereum (ETH) Price Forecast After The Merge
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- ethereum-eth-100-000-price-prediction: Wikimedia
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