Ethereum has been on a bumpy ride since the start of April hovering between $2,500 and $3,500. On April 3rd, Ethereum price reached $3,580, the price that was not seen after the first week of January. Ethereum is in high demand at $2,400 acting as a support zone.
At the time of reporting, Ethereum is trading at $2,864 with a plunge of 1.73% over the last 24hrs.
Ethereum To See 40% Price Surge
Jim Cramer, CNBC’s Mad Money host looks forward to a strong price increase for Ethereum. The Mad Money host expects Ethereum prices to see 40% increase.
However, this prediction has inculcated fear in the crypto space due to his record of losses and this was seen especially after his Netflix call resulting in 71% loss.
Jim Cramer, in a recent episode of “Girl Talk Stocks” has predicted a 35% increase for Ethereum price in the future and claimed to be a believer. But the community did not show much reaction.
The main reason for such numb reaction is due to recent call by Cramer on stocks just before they lost upto 70% of their value and few have called his calls as Cramer’s curse.
In the long-term, the Ethereum is expected to move north making a pattern of higher highs and higher lows.
ETH-2 Deposit Has 10% Of ETH Circulating Supply
The Beacon chain’s deposit contract for Ethereum staking has now hit a balance of 12 million ETH today. On the other hand, the ETH2 contract’s total value is around $34.5 billion.
November 2020 was the time when the deposit contract was launched which currently has 10% of the total circulating supply of Ethereum
In the process of Ethereum’s transformation from proof-of-work to proof-of-stake consensus model, Beacon Chain is the first major step.
To get into this, a trader is required to invest a minimum of 32 ETH to become a validator. Hence, the Beacon Chain contract which is valued at $34.5 billion points towards the huge demand & trust in ETH2’s future.