There are all kinds of predicitons about Ethereum these days and most of them are bullish despite the massive market volatility. Check out the latest price forecast below.
At the moment of writing this article, ETH is trading in the red and the coin is priced at $3,215.
Ethereum is undervalued
It’s been revealed that the commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential.
In the latest Crypto Outlook report, Bloomberg strategist Mike McGlone explained the fact that based on a discounted cash flow model, which is estimating the value of an investment based on projections of future cash flows, Ethereum is undervalued a lot.
“Traditional investors may discover the rules of the game have changed with Ethereum, which is developing into a crossover asset with a unique blend of equity, commodity and monetary characteristics. One of our discounted cash flow models currently arrives at an Ether value of $6,128, giving it 110% upside from current levels.”
They also addressed Ethereum’s massive flow of revenue via its transaction fees.
They said that these fees have gone up by over 200% each year since the blockchain’s inception.
The commodity strategists also say that trend signals are bullish for Ethereum competitors Solana (SOL), Terra (LUNA), and Avalanche (AVAX).
Ethereum whales accumulate 5 coins
Not too long ago we revealed that ETH whales are currently accumulating 5 altcoins. Find out which they are below.
According to the crypto-tracking platform WhaleStats, the top 100 richest ETH addresses’ top target over the last week, excluding ETH and stablecoins, was FTX Token (FTT).
It’s been revealed that over a seven-day timeframe, ETH whales gobbled up an average purchase amount of more than $5.1 million worth of FTT, the exchange token of FTX, a crypto derivatives trading platform for futures, leveraged tokens, and over-the-counter trading.