- Top crypto Youtuber Lark Davis predicts that ETH will reach $10K soon
- He cited 7 reasons including the PoS transition and Ethereum 2.0 update for the rise.
- The video will restore investors’ interest in crypto and the blockchain as well.
Top crypto YouTuber Lark Davis has just come out with a video predicting ETH going to $10,000. The video talks about major price catalysts lined up for the blockchain.
The crypto content creator predicts the bull run is set for the not-so-distant future. With over 390K subscribers, Lark Davis constantly updates crypto enthusiasts on predictions and news about cryptocurrencies.
Moreover, in the video, he gives 7 reasons for why ETH will go to $10,000:
- Transition to Proof of Stake network
The hype surrounding this one has been going on for a long time now. As per Davis, this shift will put an end to the climate change and environmental impact discussion once and for all. With PoS, Ethereum’s energy consumption will fall monumentally. Most importantly, Davis noted, the economics of the blockchain will shift from mine-and-dump to stake-and-HODL. This is an exciting change as ETH will give users incentive to stake ETH in return for earning more ETH by validating transactions.
2. The EIP1559 Fee Burning Update
Ethereum is expecting to upgrade its ecosystem with EIP1559 in about a month, which will introduce a fee-burning feature. Davis explained this will mainly mean that for some transactions, instead of the fee going to miners, it will be sent to an address for burning. In fact, per a day of Ethereum transactions, a lot of ETH will be burned, continually decreasing supply. He referred to the Ethereum-related meme that’s been going around, calling it “Ultra Sound Money”, and stating this update will pump up its value further.
3. Ethereum 2.0 is Coming, And Coming FAST!
The Ethereum 2.0 transition is the biggest update coming to the blockchain. The transition promises massive scalability through network sharding, increased network efficiency as a result of that, and more robust app creation with Web Assembly. Davis cited this and added that the news hype will be huge. This launch will definitely ensure a high value for ETH.
4. Home of DeFi is ETH
Lark mentions that even though there are a lot of competitors around, the best apps remain to be found on Ethereum. The most efficient applications with the deepest liquidity are sticking to the top blockchain and sustaining ETH demand.
5. Ethereum 2.0 Will Bring a Triple Halving
In addition, Davis reminded viewers that part of the Ethereum 2.0 transition includes a triple halving event. This will reduce ETH inflation from 4.5% to around 0.5%. This will add to the dramatic economic shift set off by the fee-burning upgrade, leading to less and less ETH available on market.
6. Big Money is Choosing ETH
Investors are impressed with ETH and its innovative upgrades. Hence, big companies and institutions’ interest in it is rising. Also, keeping tabs on its latest upgrades such as staking awards and fee burnings is encouraging them to even sell Bitcoin and buy ETH.
7. Ethereum Blockchain is Becoming the Premiere Internet Index
The YouTuber added that holding ETH gives you exposure to everything happening on the platform, ranging from DeFi, gaming, NFTs, etc. Being the market leader, Ethereum enables you much more information and access than other blockchains.
So far 58,412 people have watched the video. There is no doubt that this will restore investors’ interest in the crypto market and in Ethereum as an asset.