Broker FreshForex draws attention to the prospects of the second-most-capitalized cryptocurrency, Ethereum (ETH).
"Ethereum continues its impressive rise for the sixth day in a row. This is generating a lot of interest in the crypto community and attracting investors from all over the world," FreshForex said in a statement.
According to the information published on the FreshForex website, the broker expects further growth of the ETH/USD pair and justifies it by four factors:
• 1. Financial success: Ethereum has become a successful project with an annual profit of $2.7 billion. Ryan Adams, co-founder of the Bankless portal, stresses that these results set Ethereum apart from its competitors and bring it closer to giants such as Amazon and Zoom in terms of price-earnings ratio.
• 2. Financial reserve: Ether consolidates its status as a financial instrument for savings. The attractiveness of investing in ETH motivates an influx of new buyers, contributing to the appreciation of the exchange rate.
• 3. Deflationary strategy: Ethereum developers move to a deflationary strategy (reducing the supply of ETH), which helps maintain the growth of ETH/USD value.
• 4. Passive income: ETH investors have access to passive income through stakes. Currently, over 28 million coins are locked in stakes, yielding an annualized return of 3.8%. The growing interest in ETH staking reduces the likelihood of sell-offs, making the coin attractive as a passive income vehicle.
The broker believes that the combination of all these factors makes it possible to fulfill the most improbable forecasts for the growth of this crypto asset in the near future.
"The value of ETH, which is $2,200, is simply ridiculous. In this cycle, everyone is trading on assumptions, while Ethereum has a strong base. The real bull rally in the Ethereum market hasn't started yet," Adams said.
It is worth noting that FreshForex offers 24/7 trading of more than 70 crypto pairs with 1:100 leverage, which provides great opportunities for traders.
FreshForex was founded in 2004 and has won many international awards. The broker caters to traders of all levels of experience and offers its clients access to more than 130 trading instruments, as well as a wide range of educational materials.
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