While supporters in the crypto market expect 10x the meme coin Dogecoin (DOGE), Moralis Web3 CEO points to the leading altcoin Ethereum. The CEO claims that Ethereum will reach $10,000 very soon. However, Ethereum has been hovering around the $1,200 level for a while. However, it seems that the crypto community is still optimistic about the leading altcoin.
Not Dogecoin, the leading altcoin will do 10x!
Today, the CEO and co-founder of MoralisWeb3, aka Ivan on Tech, asked the crypto community if they are still bullish on Ethereum (ETH). The CEO of MoralisWeb3 returned after evaluating the answers in his post on Twitter. A few hours later, the CEO responded to his own tweet saying that he was actually optimistic about ETH. He even went so far as to say that he believes ETH will reach $10,000 very soon.
Is anyone still bullish on Ethereum? Only true believers remain…
— Ivan on Tech ??? – Building Moralis Web3 (@IvanOnTech) December 28, 2022
He also stated that he remained true to this belief despite some criticism he received for his view of ETH and its future performance. Comments on his post mostly agreed that ETH has the potential to reach $10,000. But many think it probably won’t happen during the time the CEO believes it will.
Ethereum’s price performance
cryptocoin.com As you follow, the cryptocurrency market has been dominated by bears for a long time. Nothing much has changed in the market today. One of the cryptocurrencies in the red is the largest altcoin by market cap, Ethereum (ETH). According to market monitoring site CoinMarketCap, ETH has seen a price drop of 0.08% in the last 24 hours. It is currently trading at $1,194.81 after falling to $1,185.70 in the same timeframe. The altcoin is also still in the red at around 1.55% over the past seven days.
Ethereum 1-day price chart / Source: CoinMarketCapHowever, ETH has gained 0.48% since yesterday against its biggest rival, Bitcoin (BTC). Also, ETH’s 24-hour trading volume is in the red zone. Trading volume is currently at $4,555,223,608 after falling more than 3%. The market cap of the altcoin stands at $146,212,976.126.
The leading altcoin had slumped from its all-time high of around $4.9k, reaching around this time on November 16 last year. Ethereum is down 75.5% from the ATH level, relative to its current price level. Meanwhile, Ethereum has successfully achieved a major upgrade over the year, such as The Merge. Thus, Ethereum has transitioned from energy-intensive Proof-of-Work (PoW) to energy-efficient Proof-of-Stake (PoS). However, the harsh winter conditions in the cryptocurrency market broke the effect of this upgrade. As such, the leading altcoin has lost altitude throughout the year and has dropped to as low as $800. In this environment, the estimation of MoralisWeb3’s CEO seems rather exaggerated. However, this is the crypto world. So, there is no such thing as ‘can’t’. We’ll wait and see…
