@$62409: Why Ethereum (ETH) Is Still a Buy?

Ethereum may not be the most talked-about cryptocurrency in the world, but the digital asset quietly touched an all-time high of $4,400 on Friday. In the crypto world of Bitcoin and Shiba Inu, ETH has gained its share of popularity, slowly and steadily. In 2021, Ethereum’s price jumped from $700 on 1 January to as high as $4,400 on 29 October. With a market cap of nearly $520 billion, ETH is the world’s second most dominant crypto asset.

Once completed, Ethereum’s network upgrade (ETH 2.0) will shift ETH from the current proof-of-work network to a more efficient proof-of-stake network. Ethereum community has already staked more than 8 million ETH worth over $35 billion under the deposit contract of Ethereum 2.0. On the other hand, ETH’s crypto market dominance is on the rise. But are these two factors enough to justify ETH’s latest bullish move? Finance Magnates asked leading analysts in the crypto ecosystem about their views on the recent developments across the Ethereum network.

Ethereum as an Investment

Maria Stankevich, Chief Business Development Officer at EXMO UK, believes that despite the latest bullish rally in Ethereum, the crypto asset is still not overpriced.

“If we speak about ETH as an investment, I would definitely recommend it, as I don’t think that the coin is overpriced, there is still room for growth. Usually, the price is pumped up by the “extra” money supply, when people start spending some funds that are not enough for a car or a house, on cryptocurrency. I think that current cash flows that push the price up brought by institutional investors that are diversifying their portfolios,” she said.