Despite Mute Week, Ether Could Still Hit $10K Soon

ETH is up about 40% for the to date pitched against a 5% decrease for bitcoin (BTC) month. “We’re keeping our Ethereum that is overweight vs recommendation from April 2020,” wrote FundStrat in a study note published on Thursday.

“Ethereum’s market cap has risen up to ~30percent of bitcoin’s over recent days. Through the market that is last, ethereum broke this level and [had] as high as 80% of bitcoin’s value.”

“The crypto narrative is shifting from bitcoin to Ethereum as well as other sections like DeFi (decentralized finance) and internet 3.0 apps.”
FundStrat is bullish on ETH as new economic applications are being developed in the Ethereum network, which has grown dramatically in scale throughout the year that is final.

“These applications are generating fees which are ~3x the Ethereum system vs. Bitcoin, which trades at ~3x the market limit.”
“In crypto accounting terms, here is the same as a company revenue that is making use of less running costs and making profit that is used to buy back once again stock. This implies the network would be profitable like a ongoing business when ETH supply decrease from burned charges outpaces inflation,” composed FundStrat.

FundStrat also expects bitcoin to attain $100,000 this year and also the cryptocurrency that is total cap to attain $5 trillion.