Joey Krug, co-chairman of investment at blockchain investment fund Pantera Capital, says Ethereum (ETH) has tremendous upside potential in the current market cycle. According to Joey Krug, Ethereum’s price could go as high as $18,000 in the current bull run.
Joey Krug: Ethereum Has Huge Upside Potential In Current Market Cycle
In a new blog post, Joey Krug cites Ethereum’s dominance in smart contract processes as a key driver of its growth. Joey Krug adds to his comments on the bet:
Most of the value in this system (decentralized finance) is processed on smart contracts written in Ethereum. The present value of the global payment tier process prices for all finances is a valuable number.
. since the beginning of the year and according to its data has seen an increase of more than 39,000% since the beginning of 2020. Joey Krug adds to his comments on the matter:
Even after its recent rise, it’s still trading at a 40x P/S ratio, which will be profitable for ETH players once Ethereum climbs to 2 ,0 changes. Ethereum earnings have increased 400x since January 2020.
Joey Krug: Ethereum price will surge to $18,000!
Joey Krug believes ETH can surge as high as $18,000 in the current bull run. Joey Krug adds:
With that kind of earnings growth, it’s an incredibly cheap asset compared to anything else in the public markets. It’s not totally crazy to see Ethereum rally 5-10x from here, especially when compared to traditional equity markets… Floors will rise as the market gains confidence that DeFi is here to stay and not discontinuous . Jobs will increase in value with price/revenue/growth in DeFi.