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$1900 Ethereum Price Next Year?

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Ethereum price

Fundstrat Global Advisors CEO and Crypto Bull, Thomas Lee has made a bold prediction for the Ethereum price by the end of next year. In a report by Bloomberg, Mr. Lee is quoted as saying the following:

Ethereum is about to stage a trend reversal and rally strongly. Sentiment is currently overly negative.

Lee further added that when Ether has underperformed other digital assets by two-standard deviations, ETH always reversed those losses. He went on to add that he sees Ethereum price reaching $1,900 by the end of next year.

Other Factors that Could Lead Ethereum price reaching $1,900

Blockchain, the European cryptocurrency wallet provider, launched an Over The Counter (OTC) desk to execute large trades off public exchanges such as Coinbase and Kraken. This move pivots Blockchain in a position to attract more institutional investors into the crypto space. Blockchain joins other OTC providers such as DRW and DV Trading in Chicago.

With Ethereum being the second most popular digital asset in the cryptocurrency markets, the institutional investors are bound to want to purchase it and HODL through the new OTC desk by Blockchain.

Secondly, the firm known as Bakkt is slated for launch this November. The firm has the backing of the New York Stock Exchange, BCG, Microsoft, Starbucks, an affiliate of Fortress Investment Group, Eagle Seven, Galaxy Digital, Horizons Ventures, Alan Howard, Pantera Capital, Protocol Ventures, and Susquehanna International Group, LLP.

Bakkt aims at building solutions for the buying, selling, storing and spending of digital assets, based on already existing time-tested futures markets. The firm made an announcement of their first futures contracts via a tweet that said:

Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.

This then states the stage for an exciting period in the crypto-markets as the year comes to an end. A Bitcoin rally will translate to Ethereum also making some impressive gains.

Thirdly, the cryptocurrency derivative platform of LedgerX is reported to be preparing to expand its cryptocurrency portfolio to include Ethereum (ETH).  The firm prides itself as being the first federally regulated exchange and clearinghouse to list and clear physically settled Bitcoin swaps and options for the institutional investors that are found on Wall Street.

According to The Block,

The company, however, is waiting for regulators from the Commodities Futures and Trading Commission to get comfortable with the product before making it available to its clients. The source told The Block that approval could come after a regulatory meeting October 5.

Summing it up, Thomas Lee has made a bold price prediction in stating that Ethereum will make it to $1,900 by the end of next year. With the digital asset struggling to rise above $220, the above three factors could be the boost that ETH needs in the markets to reach this price prediction and extinguish any fears of ETH crashing in the markets.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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