$ETH Ethereum is approaching a new all-time high. Currently, the price of the leading altcoin hovers around $4730, which is only 3% below the all-time high of $4891 set on November 16, 2021.
Over the past year, the second-largest cryptocurrency by market capitalization has grown by more than 80% due to investor trust and the increasing number of use cases in the blockchain space.
Perhaps that's why BitMine's chairman Tom Lee recently raised his price target for Ethereum from $10,000 to $16,000, and Etherealize's CEO Vivek Raman went even further. He believes that ETH could become a key part of the global financial and non-financial infrastructure, 'digital oil' facilitating global transactions. In his opinion, the asset's market capitalization could reach $10 trillion, meaning it could rise to $80,000.
According to Raman, the market often underestimates the potential of Ethereum due to past failures, including the collapse of the FTX exchange (what's the connection?). However, he asserts that the role of the altcoin in new digital economies will only grow.
Interestingly, some companies engaged in Bitcoin mining are already pivoting to Ethereum. This indicates their confidence that in the future, the altcoin will dominate alongside Bitcoin or even surpass it.#Ethereum #BinanceSquare #cryptotalk 
