NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum at $243 Is “Hilarious,” Says Analyst as ETH2 and Staking Near

Nick Chong
Nick Chong
4 years ago
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Since the start of the year, Ethereum has done rather well. Per data from TradingView, the leading altcoin is trading approximately 80% higher than the price it started 2020 at.

Analysts expect ETH to rally further in the months and years ahead as the underlying network’s fundamentals lend to increased demand for the asset. One fund manager and analyst in the space, in fact, went as far as to say that at $243, Ethereum’s price is “hilarious.”

Related Reading: Crypto Tidbits: Twitter’s “BTC Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH

Ethereum’s Current Price Is “Hilarious”

According to the founder of Mythos Capital, Ryan Sean Adams, the fact that Ethereum is currently trading at $243 “is hilarious.”

The investor, who co-hosts the Bankless podcast with David Hoffman, attributed this to his sentiment that “staking and DeFi is going to put far more demand on ETH than ICOs ever did.”

Staking plus DeFi is going to put far more demand on ETH than ICOs ever did

ETH at $243 is hilarious

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) July 22, 2020

Adams is referencing how staking will incentivize investors to accumulate ETH and how DeFi incentivizes users to purchase and lock their coins in contracts. In theory, these two factors should drive demand for Ethereum while reducing market supply, pushing prices higher.

Barriers to Overcome

Although it is a common sentiment amongst investors that staking and DeFi will send Ethereum higher, there are barriers to overcome.

First and foremost, the launch of ETH2 is still up in the air, with developers having conflicting opinions on when the upgrade should be rolled out. Justin Drake, a prominent researcher for the Ethereum Foundation, commented on Reddit earlier this month that he isn’t convinced the upgrade should go live in 2020:

“All the above cannot happen in Q3 2020. With Thanksgiving on November 26 and the December holidays I’d say the latest practical opportunity for genesis in 2020 is mid-November, 4 months from now. As such, I’m now inclined to say that the earliest practical date for genesis is something like January 3, 2021 (Bitcoin’s 12th anniversary).”

Drake was referencing his belief that for the upgrade to launch smoothly, Ethereum developers will need to roll out a public testnet, bug bounty, and “attack net.”

Drake’s sentiment has notably been countered by Vitalik Buterin, the founder of the cryptocurrency. Buterin thinks that ETH2 can and should launch in 2020.

The second barrier in regards to the potency of staking and DeFi as bullish catalysts is high transaction fees.

As reported by NewsBTC previously, Ethereum transaction fees have been extremely high due to the recent uptick in adoption. Analysts, including those that are ETH bulls, fear that these fees will deter adoption and potentially act as a catalyst for the adoption of other blockchains.

Relate Reading: BTC Will See a “Monster Breakout” in the Next Three Days: Analyst
Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Ethereum at $243 Is "Hilarious," Says Analyst as ETH2 and Staking Near
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum, ETH, Crypto

Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch

Ethereum (ETH) has surged 7.5% in the daily timeframe to break above a key resistance level for the first time...

Rubmar Garcia 15 hours ago
Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Ethereum continues to exhibit limited upward price movement despite earlier gains last week. Over the past seven days, the asset...

Samuel Edyme 19 hours ago
Ethereum Price Pops Above $2,550

Ethereum Price Pops Above $2,550 — Can It Avoid a Quick Reversal?

Ethereum price started a fresh increase from the $2,375 zone. ETH is now back above $2,550 and struggling to clear...

Aayush Jindal 19 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Sebastian Villafuerte 1 hour ago

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

clararosati 10 hours ago
Ethereum

Echoes Of 2020: Ethereum Signals Possible Bullish Rally After Reclaiming $2,600

Ronaldo Marquez 13 hours ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    19 minutes ago
  • The smartest way to make money in 2025: Invest in cloud...

    7 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    7 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    7 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.