Zap Protocol co-founder Predicts Ethereum’s Growth to $10k by Year End
Zap Protocol co-founder Predicts Ethereum’s Growth to $10k by Year End
In brief
- Zap Protocol’s co-founder, Nick Spanos, recently gave a comment on Ethereum for Reuters.
- In his statement, he noted that Ethereum is growing due to a revamp network and smart contracts.
- As a result of this, he expects ETH price to skyrocket even further, possibly to $10k by year end.
Nick Spanos recently gave a statement for the Reuters article in which he predicted that Ethereum could skyrocket to $10,000 per coin this year.
Ethereum has been skyrocketing strongly over the past few months. It reached and exceeded its 2018 ATH a long time ago, and then it proceeded to surge to $1500, $2,000, $3,000, and even go beyond $4k per coin recently. Even though the cryptocurrency sector is currently facing a strong correction, and ETH dropped from its new ATH of $4,362 to $3,508, many believe that it still has more than enough strength in it to fuel further growth.
One example is Nick Spanos, the co-founder of Zap Protocol — a decentralized tokenized bonding curve curation market that provides access to data and a variety of additional services.
Spanos recently gave his opinion on Ethereum for the Reuters article that commented on the altcoin’s rapid surge in value, noting that “Ethereum is growing in part by the prospects of a revamped network with the right upgrades highly anticipated to accommodate DApps (decentralized applications) and smart contracts that are built on it.”
This is, of course, not surprising. Ethereum has been working on the development of Ethereum 2.0 for a very long time, aiming to introduce staking, eliminate mining which it inherited from Bitcoin, and it has a high scalability problem. This is a combination of issues that is extremely bad for a project like ETH, whose entire ecosystem is dedicated to the development, and every move requires a transaction.
Ethereum will keep growing
With it being the birthplace of smart contracts, dApps, DeFi, NFTs, and other blockchain products, Ethereum’s network became so busy that gas fees skyrocketed over the last year to the point where using it stopped making sense from the financial standpoint.
A lot of people started transitioning to younger, faster blockchains, which were more scalable and therefore, significantly cheaper. However, that doesn’t mean that Ethereum truly lost its popularity and usage, which was proved by the growing price. Spanos, however, believes that Ethereum is nowhere near its full potential. Even if it doesn’t reach it for years to come, he still believes that ETH price could go significantly higher in months to come.
He ended his statement by claiming that “The coin is bound to grow more in the near future, with an ambitious target of $10,000 by year end.”
Given how deep Spanos is in DeFi, and crypto in general, his prediction should definitely not be overlooked. His own protocol, Zap, allows users to create and subscribe to decentralized oracle data feeds, which are then used for fueling smart contracts with real world data. With that in mind, he understands how Ethereum works, what it needs, and how far it may go.
Whether or not his prediction will come to pass still remains to be seen. However, given his familiarity with Ethereum, this prediction definitely indicates that there is a lot more room for ETH to grow and that there may be new opportunities for traders and investors to exploit in the coming months.
The author
