Investors Name Reason Why Ethereum Will Hit $10,000
Lark Davis Explains Why He Believes Ethereum Will Hit $10,000 Price
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Crypto Investor and Content Creator Lark Davis tweeted that he is sure that after Ethereum 2.0. upgrade is launched, the second largest digital currency ETH will skyrocket to $10,000 per coin.
“Sorry, haters,” he added.
Earlier this week, billionaire Mark Cuban shared a similar view, but unlike Davis, the owner of Dallas Mavericks said he was “very optimistic” about Ethereum following the implementation of the “Merge” – another name for Ethereum 2.0.
The upgrade is expected this summer, although it hasn’t been confirmed yet. It causes the Ethereum chain to switch from Proof-of-Work to the Proof-of-Stake consensus protocol, making it greener compared to Bitcoin and other PoW coins.
The energy consumption of ETH miners will drop by 99 percent and far fewer ETH coins will be minted, which is expected to shrink the circulating Ethereum supply.