Leading Bloomberg Commodities Expert Explains Why Ethereum Price Expected To Hit $ 5,000
Chief commodity strategist of Bloomberg, Mike McGlone, has taken to Twitter to name the major advantages of Ethereum that are likely to give it further momentum for growth to eventually hit $5,000.
Ethereum On Track To Hit $ 5,000, McGlone Says
Bloomberg’s commodities expert believes that the second largest blockchain is at the very center of the digitalization of finance and money and this is the basis on which a further rise in ETH prices will occur , according to him. McGlone believes Ether is on track to hit $ 5,000.
As for Bitcoin, he referred to it as a commodity whose supply is in decline, but the demand is increasing greatly.
As for ETH, it is “rested and corrected” and is riding the wave of digitization. Almost a week ago, Ethereum reached a new all-time high of $4,366, but it has been correcting since then, trading at $4,020 at press time.
Total ETH value in ETH 2.0 reaches $ 34.3 billion
According to data shared by analytics provider Glassnode, the total amount of blocked ETH in the Ethereum 2.0 deposit contract hit a new lifetime high of $ 34,337,442,751.90. This equates to 8,539,419.84 ETH coins.
Outflows of Ether from centralized crypto exchanges (seven-day MA) has surged to a one-month high, totaling $43,969,077 at the moment.
