Ethereum cryptocurrency is predicted to grow by 720%

The second largest cryptocurrency by market capitalization, Ethereum (ETH), could grow by about 726% from the current rate in the next bull market. Guy Turner, a cryptocurrency industry analyst, is convinced of this.

«…ETH is also showing a decline in profitability and seems to be only one cycle behind BTC. The support zone for ETH during the previous cycle was about $ 250, and its maximum in 2021 is about $ 5,000 — a 20-fold increase. And it portends a 7x growth compared to its current zone.

Similar to BTC, ETH’s zone for this cycle is around $ 2,500, which is about 10 times the zone of the previous cycle. Oddly enough, a7x increase would take ETH to a $ 15,000 top, which is also what many [з криптоекспертів] predicted," Turner said.

At the time of writing, ETH is trading at $ 1,781, down 0.42% from yesterday’s close. The total number of coins circulating on the market amounted to $ 214.2 billion, and traders made daily trading deals worth $ 3.9 billion. The dominance of the leading altcoin in the industry amounted to 17.1%.

Earlier, we reported that in just three months, cryptocurrency projects lost more than $ 600 million in digital assets. According to analysts, this is almost twice as much as in the previous quarter. Attackers most often steal funds from the Ethereum and Binance Smart Chain networks.