Bitcoin and ethereum have both surged in recent weeks, with the ethereum price this week hitting a fresh all-time high amid a battle for memecoin dominance.
The bitcoin price has struggled this week, falling back after soaring to never-before-seen highs of around $67,000 per bitcoin earlier this month.
Now, a panel of 50 bitcoin, ethereum and cryptocurrency experts has predicted the ethereum price could top $5,000 per ether before the end of 2021—and rocket to over $50,000 by 2030.
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The ethereum price has outpaced bitcoin over the last year as its crypto-based projects flock to its … [+]
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“Ethereum does a better job of supporting development on its blockchain and will have a more lightweight proof-of-stake mining model than bitcoin [which] means that it can potentially be the backbone of web 3.0,” said Daniel Polotsky, the founder of crypto ATM operator CoinFlip and panel member, who predicts ethereum’s growth may even surpass bitcoin’s over the next decade.
Web 3.0, the idea that a decentralized version of the internet will eventually replace the Silicon Valley-centric web 2.0, has been popularized in recent years, helped by the growth of the crypto and blockchain economy that some think could form its basis.
Late last year, ethereum began its long-awaited shift from bitcoin’s proof-of-work security and validation model to proof-of-stake—something many developers hope will make ethereum more efficient and less energy demanding. However, it’s not yet known how…
