Joseph Lubin: Ethereum (ETH) Will be a Global Settlement Layer and Prices Rise 1000X

Dalmas Ngetich

6 years ago

2 mins read

sleepwalking, technical analysis ethereum

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Ethereum prices in an uptrend, add 9.3 percent
Break above $190 and $200 ought to be with high transactional volumes

ConsenSys are building and developing infrastructure, apps, and tools useful in the Ethereum ecosystem. That will support prices forming the base for Ethereum (ETH) rockets aiming at $250 or higher.

Ethereum Price Analysis

Fundamentals

Joseph Lubin is the co-founder of Ethereum and the founder of ConsenSys, and he is optimistic of Ethereum’s future. Being a billionaire, Joseph is an influencer and is actively driving Ethereum to the masses. Through ConsenSys–which serves as an Ethereum studio, Joseph owns a majority of ETH.

Now that markets are recovering after last year’s crypto winter saw his studio restructure, subsequently laying off staff, Joseph projects ETH value to increase by 1000X in the next two years. He said this while delivering his keynote at the South by SouthWest (SXSW) in Austin mid last month. If that is the case, then Ethereum (ETH) is grossly undervalued more so if we factor in the prospects of Ethereum 2.0 and how it will shape the platform’s speed, efficiency, and security.

At ConsenSys, Lubin said his team is getting started and at stage-0 in a four-phase journey that will take 18 months to execute. It is these developments that will not only fuel demand for Ethereum as a smart contracting platform, but as more businesses launch their project beneath a secure and trusted platform, then the network will gradually evolve into a global settlement layer.

“The Ethereum ecosystem has the diversity, expertise, and momentum to get this done well and quickly. It takes an enormous amount of work and network effect to build an ecosystem, so by that time, Ethereum’s ecosystem will be orders of magnitude larger than the other two and will already have strong scalability at layer two.”

Candlestick Arrangements

Up 9.3 percent from last week’s close, Ethereum (ETH) is on a roll and trading within a bullish breakout pattern. Although we expect prices to expand in days ahead mostly because of fundamental factors and supportive candlestick arrangement, traders are watching $190, our recent highs and whether bulls will clear the resistance line.

Note that prices are technically accumulating and with a long upper wick visible in today’s bar, sellers are pressing on, looking for a reversal. Even so, every low would be a buying opportunity as long as prices trend above $170, our immediate support line previous resistance.

In a spring, that will feed the next wave of higher highs that will eventually drive prices above $200 towards $250 and even $300 as laid out in our last ETH/USD trade plan. On the reverse side, any drop below $160 would force liquidation more so if the slide is with high transactional volumes above 880k or 575k of Apr 2.

Technical Indicators

Bulls are in control, but we need confirmation for trend continuation. That is why even if prices are edging higher, we need a rally towards $200. Fueling this surge should be high volumes exceeding 820k of Apr 3 cementing buy pressure of Apr 2 and setting in motion the next leg that will eventually drive prices to $250 or higher.

Chart courtesy of Trading View

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.