Mike Novogratz of Galaxy Digital has joined a number of industry experts to make his prediction regarding the likely trend of the second-largest cryptocurrency by market cap, Ethereum (ETH).
As it’s widely known that Ethereum recently printed a significant price uptrend to record a new price all-time high of over $1,450.
At the time of publication, Ethereum (ETH) is trading at $1,414.81, with a relatively 8% price uptrend in the last 24 hours.
Mike Novogratz Says $2,600 Is Next For Ethereum (ETH)
A few hours ago, Industry expert, Mike Novogratz tweeted about a lunch meet up with a co-expert in the crypto industry, Joseph Lubin, the co-founder of Ethereum (ETH). There, he predicted that the next target for the cryptocurrency is $2,600.
Mike Novogratz tweeted, “I had lunch with Joseph Lubin today. Always makes me want to buy more eth. Nice start to the week. Chart targets 2600.”
— Mike Novogratz (@novogratz) January 25, 2021
As expected, the prediction sparked off the old tirade of crypto tribalism from maximalists, especially, the stern Bitcoin maxis.
The fact that the current momentum in the market is favoring Ethereum (ETH) is an indication that the digital asset is poised to print a favorable performance this year. How high it would rise remains to be seen.
Over $4 Billion Ethereum (ETH) Staked
At current prices, there is now over $4 billion worth of ETH locked in the Ethereum 2.0 deposit contract. This whopping amount of ETH is expected to remain locked up for at least another year.
According to the report by ETH 2.0 Launchpad, the sum in ETH is around 2.82 million, which is almost 2.5% of Ethereum’s total supply.
Currently, earnings are roughly 9.3% APY, which is an impressive return for those that have staked their assets, coupled with the fact that ETH has surged by about 140% since the launch of Ethereum 2.0’s Beacon Chain about two months ago.