Lark Davis explains why he believes Ethereum will reach the $10,000 price mark
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Crypto investor and content creator Lark Davis has tweeted that he is positive that after Ethereum 2.0. upgrade is launched, the second biggest digital currency ETH is going to skyrocket to $10,000 per coin.
“Sorry, haters,” he added.
Earlier this week, billionaire Mark Cuban shared a similar view, however, unlike Davis, the owner of Dallas Mavericks said he was “very bullish” on Ethereum after the implementation of the “Merge” – another name for Ethereum 2.0.
The upgrade is expected this summer, even though, it has not been confirmed yet. It will ensure Ethereum chain will switch from Proof-of-Work to the Proof-of-Stake consensus protocol, which will make it more green compared to Bitcoin and other PoW coins.
The consumption of energy by ETH miners will drop by 99 percent and a lot fewer ETH coins will be minted, therefore the circulating Ethereum supply is expected to shrink.