Recent surging demand for Ethereum (ETH) spark optimism among experts who predict its possible rise to $10,000. This article explores key factors contributing to this growth.
Demand for Ethereum Among Companies Rises
According to Standard Chartered, one of the reasons for Ethereum's price rise is growing demand from companies. Currently, 1% of Ethereum's circulating supply is controlled by 11 large firms. The bank predicts that firms could eventually own 10% of all issued Ether tokens. Experts believe that corporate adoption of Ethereum could lead to a significant price increase. Geoffrey Kendrick, the head of digital assets at Standard Chartered remarked: > "They may eventually end up owning 10% of all ETH, a 10x increase from current holdings." Such purchases of Ether are likely to propel its price significantly.
BTCS and Ethereum Treasuries Explained
BTCS has made a strategic pivot from Bitcoin mining to purchasing Ether for their treasury. Currently, they hold assets worth around $270 million in Ethereum. CEO Charles Allen emphasized the importance of Ether: > "Ethereum opens up new business models without banks or intermediaries and is the backbone of the internet." BTCS plans to increase its Ethereum holdings and develop ETH infrastructure, which should positively impact Ethereum's future.
Experts' Optimism on Ethereum
Crypto experts, including Bitget's CEO Gracy Chen and Bondex's CEO Ignacio Palomera, express optimism about Ethereum. Chen noted that > "Ethereum has a competitive advantage in capturing a large share of this market... Wall Street is just beginning to warm up to the idea of Ethereum as a treasury reserve asset." Palomera believes that Ethereum has become foundational for creating fully interoperable and decentralized ecosystems, and its future promises to be just as transformative, if not more.
The rising demand for Ethereum from companies and institutional investors strengthens optimistic forecasts of its potential growth to $10,000. Support from infrastructure firms, like BTCS, also plays a crucial role in this dynamic.
