Ethereum may rise to $5,000
After switching to the PoS of the Ethereum network, the token’s value, in the long run, can grow to $5,000. This forecast was voiced by Roman Nekrasov, one of the founders of the ENCRY Foundation.
In his opinion, ETH’s price can fluctuate quite seriously in the coming month. The expert advised the owners of the crypto asset in the next three months to host the ether.
“In the future, 3–6 months, I expect the growth of Ethereum. Under favorable circumstances, the price of ETH can reach $5,000,” the expert added.
Against the backdrop of the recent merger in the US Senate, hearings were held at which the head of the SEC, Gary Gensler, said that digital currencies that imply the possibility of staking might be subject to securities laws. Such assets must pass the Howey Test.
“That’s another criterion for the Howie test — the public expects profits based on the efforts of others. If an intermediary offers staking services to customers, this is very similar to lending,” the official said.
Senator Pat Toomey responded to Gensler’s criticism of this. The politician was dissatisfied with the opinion of the head of the SEC about the fact that almost all cryptocurrencies, most likely, can be defined as unregistered securities.
In addition, the senator pointed to the lack of transparency of the regulator’s actions regarding formulating criteria for digital assets.
“The problem is that the Commission does not share with us the assessment system it uses,” the legislator explained.
But the Environmental Working Group, which is focused on protecting the environment, is planning to launch an advertising campaign for $1 million. The key goal is to “push” bitcoin to move from Proof-of-Work to Proof-of-Stake.
“Ethereum has shown that switching to an energy-efficient protocol with much less climate, air, and water pollution is possible. Bitcoin has become an exception, defiantly refusing to take responsibility for the climate,” said Michael Brune, head of Change the Code, Not the Climate.
According to the Non-Governmental Environmental Working Group members, BTC needs to move in this direction or “risk becoming the cryptocurrency of the past.” What do you think about it?
