Ethereum Supply Crunch To Trigger Surge Above $10k

There are all kinds of Ethreum-related predictions these days, and most of them are bullish. Check out the latest one below.

Crypto analyst and trader Lark Davis said that he expects Ethereum to surge by at least 400%.

It’s been revealed that in a new video, the crypto influencer outlined some of the bullish catalysts that could catapult Ethereum to higher highs.

Davis first notes that the number of long-term Ethereum holders is rising as whales appear to eat up Ethereum supplies.

“This week we had the second-biggest Ethereum outflow from centralized exchanges with 235,000 Ethereum withdrawn in a single hour. When the price went down, buyers stepped up big time…” he said.

It’s been revealed that on-exchange balances for Ethereum just reached a new low. Ethereum is in accumulation mode – whales are still buying heavily, according to what he said.

He also explained that “Ethereum is going to be a five-digit asset not just like $10,001, likely much higher than that.”

Davis said that another catalyst that will likely send Ethereum’s market cap higher is the surging interest in non-fungible tokens (NFTs).

“The undisputed home of NFTs is Ethereum. Every major NFT market is an Ethereum market. Sure, other chains are going to do NFTs, I welcome that, I’m excited about that as well. But as so often happens, all the liquidity and all the most valuable stuff, it’s on Ethereum.”

Vitalik Buterin addresses ETH scalability

Ethereum’s scalability issues have been highlighted for a while now, and the latest post coming from Vitalik Buterin sheds more light on the future plans.

Check out the tweet that Buterin shared:

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