Gemini’s Tyler Winklevoss Sets Next Price Target for Ethereum (ETH)
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On 12th January 2021, with Ethereum (ETH) trading above $1,000, Tyler Winklevoss, the co-founder and CEO of the top cryptocurrency exchange Gemini, described the Ethereum network as Decentralized Amazon Cloud Computing and Bitcoin (BTC) as Gold 2.0.

Ethereum as “Decentralized Amazon Cloud Computing”

Gemini’s CEO Tyler Winklevoss, who has been positive about Ethereum lately, has in a tweet described the use cases for various popular crypto projects, including Etheruem (ETH).

Read Also: Vitalik Buterin Reveals Underrated Bull Case for Bitcoin and Crypto amid Massive Uptrend

According to Tyler, Bitcoin (BTC) is gold 2.0, while Ethereum (ETH) is decentralized Amazon cloud storage:

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“Bitcoin is gold 2.0. Ether ETH is decentralized Amazon cloud computing. Filecoin FIL is decentralized Amazon cloud storage. Zcash ZEC is decentralized, private money. DAI is a decentralized stablecoin. All of the pieces of the decentralization movement are coming together.”

A few hours later, he told the American billionaire entrepreneur and investor Mark Cuban about the necessity of decentralized finance (DeFi):

“You’re overlooking the biggest risk of all. Most of the world is underbanked or not banked at all. Unlike you and me, they can’t borrow, can’t get a loan, and never even have a chance to create a better life for themselves and their family. DeFi can fix this.”

According to the data provided by TradingView, around 06:48 UTC on Tuesday 12th January, the price of Ethereum (ETH) grew as high as $1,149 and dipped as low as $1,007 at 14:37 UTC.

Although the price of Ethereum (ETH) nosedived from around $1350 to around $912 during the major correction that was initiated by Bitcoin’s price retraction, which lasted for about two days.

Read Also: This Metric Shows That Ethereum (ETH) Is Still Undervalued At Current Price

After the huge correction bottomed, ETH started printing a top-notch performance to maintain its stability at the $1,000 area. However, the digital currency is still relatively $400 from the price all-time high recorded in January 2018.

At the time of writing, according to CoinMarketCap, ETH is trading at 1,051.75, with a 2.46% price decrease in the last 24 hours, but up 39% since the beginning of 2022.

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Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.