Abra CEO Predicts Ethereum Could Reach $40,000 – But Some Fintech Analysts Don’t Agree

Bill Barhydt, the CEO and inventor of the well-known cryptocurrency wallet service Abra, outlined why he believes Ethereum is a much better investment than Bitcoin. He has also set a price prediction of $40k for ETH, indicating his confidence in its future development. He also noted that Ethereum is utilized for a variety of reasons, such as DeFi, stablecoins, NFTs, and even games. Furthermore, it has the “network effect,” which means that the value of cryptocurrencies is likely to rise as the number of customers grows, making it an even greater utility. Ethereum Positive Use Cases Its central argument is that the use of Ethereum is what makes it so valuable. Bitcoin’s network effects, according to Bill, are changing it into a reserve asset that is trustless, immutable, and cannot be manipulated; it is hard money. In terms of flexibility, dependability, and value rise, Ethereum network effects are much more practical in terms of short-term exponential development. Furthermore, while Bitcoin’s quantity is fixed, because of the burning of Ethereum, Bitcoin has become deflationary, meaning its supply is actually diminishing over time. ETH total market cap at $309.68 billion on the daily chart | Source: TradingView.com Related Article | Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform Ethereum Seen To Unseat Bitcoin As Top Crypto With that in mind, Ethereum is extremely likely to dethrone Bit...