The CEO of Real Vision, Raoul Pal, has recently stated that his end of the year target for Ethereum (ETH, the second-largest digital currency by market capitalization, remains $20,000 as the cryptocurrency of the largest smart contract platform hit $1,700 all-time high.
Ethereum (ETH) Keeps Surging For New All-Time Highs
In early Thursday trading on the Asian session, Ethereum (ETH) prices hit a new milestone of $1,700, marking a gain of 8% on the day. ETH is now 17% higher than the previous all-time high it recorded three years ago and could continue to advance if the momentum remains the same.
The momentum has positioned the digital asset firmly above its previous and 2018 high of $1,450 as it surges closer to the $2,000 level.
It’s worthy of note that the price of the leading cryptocurrency ETH has surged 130% year-to-date compared to Bitcoin (BTC), the largest cryptocurrency by market cap, that printed just a 30% increase over the same period.
At the time of publishing, ETH is trading at $1,669.93, with about an 8% price uptrend in the last 24 hours, according to CoinMarketCap.
Raoul Pal Says Ethereum (ETH) Is Poised To Hit $20,000 by the End Of 2021
As the price of Ethereum (ETH) embarks on new all-time highs, the popular economist and Global Macro Investor, Raoul Pal, has set his price target for the digital token.
In a new tweet, Real Vision CEO pointed out that he still expects the leading digital currency to hit $20,000 before the end of the year.
Raoul Pal tweeted, “ETH is up 126% YTD. Its Feb 3rd, FFS! I still expect it to hit $20k by around the turn of the year. The entire DA space is going to consume the performance of everything else, with BTC as the flag carrier as The Big Asset. It is up 30% YTD hugely beating every other major asset.”
ETH is up 126% YTD. Its Feb 3rd, FFS! I still expect it to hit $20k by around the turn of the year.
The entire DA space is going to consume the performance of everything else, with BTC as the flag carrier as The Big Asset. It is up 30% YTD hugely beating every other major asset
— Raoul Pal (@RaoulGMI) February 4, 2021
Grayscale Buys ETH worth $38 Million
Grayscale Investments, the world’s largest crypto-asset manager, has revealed that it had added $38 million worth of ETH.
Following the new development, Grayscale’s total ETH AUM climbed to $4.5 billion, according to data from crypto-exchange data aggregator bybt.